Grand Rapids Contract Lawyer
Whether you’re starting a new business or maintaining your existing business, it’s likely you’ll run into contract creation or contract review needs. Ensure that you understand every important legal document that passes across your desk with the knowledge and skill of Toburen Law PLC.
Attorney Mike Toburen works closely with you to evaluate or create contracts for a wide range of business needs. This list includes:
- Business ownership changes: These contracts detail the terms and conditions under which ownership stakes in a business are transferred or altered among current or new owners.
- New business formation agreements: You will need legal documents that outline the structure, responsibilities and operations of a newly established business.
- Partner or investor agreements: The terms, conditions and expectations between business partners or investors are specified in these contracts, which include equity distribution and decision-making authorities.
- Property lease agreements: These legal agreements define the terms under which one party agrees to rent property from another party, often used for business locations.
- Business sale agreements: Such contracts govern the terms of a business’s sale from one owner to another, detailing aspects like price, assets included, and liabilities.
- Business merger agreements: When combining two or more businesses into one entity, you will need documents that outline the process and terms, including details on financial arrangements and organizational structure.
- General contract formations: This broad category includes any type of contractual agreement which outlines specific terms, conditions, and obligations between parties.
Understanding and properly managing these contracts with Mike is crucial for safeguarding your business interests and ensuring smooth operational transitions.
What Do Valid Contracts Need?
Valid contracts need several key elements to be legally enforceable. First, there must be an offer made by one party and an acceptance by another. Second, both parties need to exchange something of value, known as consideration. Third, all parties must have the legal capacity to enter into a contract, meaning they are of legal age and sound mind. Additionally, the contract must have a lawful purpose, and all terms should be clear and agreed upon by all parties. Lastly, the contract must be in the proper form required by law, which may include being in writing for certain types of agreements.
Do Contracts Need To Be In Writing To Be Valid?
Contracts do not always need to be in writing to be valid. Many oral agreements are legally binding, provided they meet the essential elements above such as offer, acceptance and consideration. However, certain types of contracts must be in writing to be enforceable. This includes contracts for the sale of real estate, agreements that cannot be performed within one year, and contracts for goods priced at $500 or more, among others. Ensuring a contract is in writing can also help clarify the terms for all parties and provide a tangible record in case of disputes.
What Is A Breach Of Contract?
A breach of contract occurs when one party fails to fulfill their obligations under the terms of the agreement. This failure can take various forms, such as not performing a task, not delivering goods or services as promised, or not meeting the contract’s deadlines. The breach can be categorized as minor or material, with material breaches having a significant impact on the contract’s value and possibly leading to its termination. When a breach happens, the non-breaching party has the right to seek legal remedies, which might include enforcement of the contract, compensation for damages, or cancellation of the agreement.
Have Questions? Reach Out To Mike Toburen Today.
Ready to secure your legal rights and ensure your agreements are solid and enforceable? Take action today by reaching out to Toburen Law PLC. Whether it’s drafting a new agreement, reviewing an existing contract, or resolving a breach, Mike is here to help guide you through every step. Call him at 616-818-1842 or fill out the online contact form to schedule your consultation. Take the first step toward peace of mind and professional handling of all your contract needs.