What You Need To Know About Contracts
As you start, grow and operate your Idaho business, you will inevitably enter into contracts along the way.
- You and a partner (or partners) will select an entity structure – such as a partnership or LLC – and create binding legal documents as your business gets off the ground. Down the road, you may sign contracts agreeing to a merger, acquisition or other expansion of your business.
- You will agree to terms that will define your business in Boise or elsewhere and will determine its ending someday – how it may be sold, dissolve or pass on through succession after you are no longer directly involved.
- Your business is likely to be a party to contracts such as a commercial real estate lease, employment contracts, and purchase and sale agreements with suppliers, service providers and customers.
Protecting Your Personal And Business Interests Through Successful Contract Transactions
Whatever contracts your business creates, negotiates or agrees to, certain principles should always apply. You should clearly understand what you are agreeing to. You should ensure that there are no clauses or terms in a contract that would harm your business’s goals and principles. If the terms are unacceptable, you should negotiate directly with the other party in pursuit of a favorable resolution or let your lawyer negotiate on your behalf. You should ensure that the contract is properly signed.
These guidelines for contract drafting and revision apply to both private individuals and businesses entering into contracts.
Get Legal Counsel For Your Protection Before And During Contract Negotiations
Leon Rothstein, Attorney at Law, offers business clients and private individuals a full array of contract-related services, including contract drafting and direct interactions with the other party to each contract. Once the contract has been drafted, you are ready to enter into negotiations. Mr. Leon Rothstein is prepared to represent you in your industrial sales or other type of contract. The law firm can also monitor and guide a contract execution.
In The Event Of A Contractual Dispute
Contract lawyer Leon Rothstein can serve as your strong advocate in case of breach of contract allegations or accusations of the same by the other party. Buyers and sellers, debtors and creditors, and other parties to contracts in Idaho can depend on Mr. Rothstein’s diligence and advocacy, no matter what the nature of the dispute.
Many contracts have a built-in arbitration clause. This means that your contract dispute may be subject to a written agreement to resolve conflict through arbitration, rather than litigation. Even if your contract does not have such a clause, you could request dispute resolution via arbitration. In arbitration, disputing parties present their argument and evidence outside of court before a neutral arbitrator or panel of arbiters. The arbitrator, or panel if there is one, makes a written decision to settle the dispute.
Arbitration could be a faster and less costly way to settle disputes. You may have an attorney represent you at an arbitration proceeding or hearing.