Business Law Lawyer
If you are the owner of a business, then you probably know that this is a big accomplishment. So many hours and hard work go into building a business, and to see it in operation and thriving is incredibly exciting. Unfortunately, there are numerous ways that a business can get stunted, potentially risking business success.
When a business owner gets caught up in a set-back, in the form of a breach of contract, reaching out to a business lawyer right away will be paramount:
Breach of Contract
As a business owner, chances are you have had to write up a few contracts. Because there are extensive details in any legal document, having a lawyer with knowledge in business law can help safeguard your business from an agreement breach. For instance, your lawyer will know how to create a business contract that has your best interests in mind. A lawyer can see loopholes or mistakes in a contract and suggest corrections before the business is put at-risk.
Even the most clear and strongest contract may eventually have a breach, as you don’t have full control over the other party. Your business lawyer can advise how to handle a liability issue, and protect it from happening in the future. Common reasons why a breach of contract may happen include:
- Lack of consideration
- Statute of frauds
- Lack of capacity
- Discharge by frustration
- Impossibility of performance
- Mutual mistake
A breach of contract is caused by either numerous acts, one specific act, or continuous neglectful acts from a single party or more in the contract. A lawsuit may be filed so that the affected party is placed back into the same position they were in prior to the agreement. Any business that is dealing with a breach of contract should notify their local business lawyer immediately.
If you are dealing with a business issue or want help protecting your business, contact a business law lawyer in Palatine, IL, such as an attorney from Bott & Associates, LTD.