Contracts are essential to running a business. In fact, they often provide the foundation for nearly all commercial relationships. While they come in a variety of shapes and sizes, contracts are nothing more than voluntary agreements between two parties (or more) that are legally binding. While they can be either spoken or written, they must contain certain elements: an offer, a consideration of that offer, and acceptance of that offer.
Because of their prevalence, disputes are bound to arise. Sometimes it is as simple as a conflict over wording, which leads to misinterpretations. These can typically be resolved quickly. Other times, unanticipated circumstances arise that lead directly to conflict. If your business is in the middle of a contract dispute, do not try to fix things on your own. Protect yourself – and your business – by consulting an Arizona business lawyer at Burg Simpson at 602-777-7000 or complete a FREE Case Evaluation form before it’s too late.
TYPES OF BUSINESS CONTRACTS
Business contracts typically fall into one of a handful of categories: general business contracts, employment contracts, sales contracts, and leases. The most commonly drafted contracts include:
- Partnership agreement: This contract simply details the rights and responsibilities of two or more business partners.
- Indemnity agreement: This contract transfers risk from one party to another.
- Nondisclosure agreement: These contracts, typically drafted before a business transaction, prevent the disclosure of the terms of the transaction to third parties. These agreements can also be used to prevent employees from revealing sensitive corporate information.
- Bill of sale: This document transfers title of a property and serves as proof of legal transaction.
- Purchase order: A purchase order is a contract that obligates a business owner to buy something for a specific price, and includes delivery date and payment terms.
- General employment contract: These contracts detail the relationship between an employer and employee.
- Noncompete agreement: These contracts spell out how long an employee is forbidden from working for a competitor after their departure.
It is a mistake for any business owner to attempt to draft their own contracts. Get legal help from a civil law attorney in Phoenix. Reach out to Burg Simpson Arizona at 602-777-7000 so we can discuss your contract needs with you.
WHAT IS A BREACH OF CONTRACT?
Most commercial lawsuits emerge from claims over a breach of contract. A breach of contract takes place when either party fails to uphold their part of the agreement, without a valid legal justification.
To prove a breach of contract in Arizona, the plaintiff must prove:
- A valid contract existed.
- There was a breach of contract.
- The contract breach harmed the operation of the plaintiff’s business.
- The breach lacked a legitimate defense.
In Arizona, the statute of limitations on most written breach of contract claims is six years. But times vary depending on the type of contract at issue, so don’t wait to get in touch with an experienced civil litigation attorney. Call Burg Simpson as soon as possible at 602-777-7000 so we can evaluate your situation with you.
LET A BURG SIMPSON TRIAL LAWYER HELP YOUR BUSINESS
A breach of contact can cost your company time and money. If a broken contract has hurt your business or prevented you from operating normally, get legal assistance immediately. Contact a commercial litigation attorney at Burg Simpson Arizona by calling 602-777-7000 or fill out our FREE CASE EVALUATION form today.