Reasons Why You May or May Not Want to Enter a Partnership The concept of a business partnership has been around for thousands of years. In fact, the Code of Hammurabi, one of the earliest known sets of laws, provided guidelines for the ...

The Advantages and Disadvantages of Each Business Form When you're starting a new business enterprise, one of the most important decisions you'll need to make involves the legal form of your company. For many small businesses in particular, that's ...

What Is a Trust? How Does It Protect You From Creditors? When you've worked hard to build a significant net worth, you want to be careful to take the right steps to protect your assets. One of the most effective ways to do that is through the ...

Contracts are not necessarily as dramatic as movies make them out to be. A very big misconception is that contracts only happen when you sign "agree" on a document. However, you can actually enter a binding contract without ever signing a ...

What Are the Situations Where an Oral Agreement May Not Be Enforceable? Over the past few months, we have taken a closer look at the five requirements of a valid and enforceable contract: An agreement based on an offer and an acceptance of that ...

When Is the Subject Matter of a Contract Illegal? In earlier blogs, we have looked at four other requirements of a valid and enforceable contract: There must be an agreement. Both parties must have given consideration. The parties must ...

What Is Contractual Capacity? When Might a Person Lack Capacity? In this series of blogs, we have looked in greater detail at the specific requirements of a valid and enforceable contract. The first three blogs in the series looked at agreement, ...

What Is Volition? Common Situations Where a Party Does Not Voluntarily Enter a Contract In this series, we are looking at the necessary components of a valid and enforceable contract. In earlier blogs, we looked at the necessity of an “agreement” ...

What Is Consideration? What Qualifies as "Sufficient" Consideration When determining the validity of a contract, a court first looks to see that the parties had some type of agreement— that there was, as discussed in Part 1, a valid offer and an ...

What Is an Agreement? What Does It Require? When Will a Lack of Agreement Void a Contract? Contracts are an essential component for virtually every business. In fact, it’s not uncommon for your business to enter into multiple contracts on a daily ...