Texas Contract Law Attorney
Protect Your Business with a Team That Handles High-Stake Situations
Contracts are an integral part of any business; a well-written contract can have a significant impact on the success of your company and help you avoid potential problems. If you are starting up a new business, a contract will help establish and define your business needs and guidelines. If you are in the process of acquiring a new company or need help revising or drafting additional contracts, our Houston business attorneys can help.
Our legal staff has experience in the development of numerous contracts and agreements, including:
- Business sales
- Purchase and sale of goods and services
- Brokerage agreements
- Agency agreements
If you are a small business owner, you may be tempted to copy another company's contracts. However, most companies are better served with legal documents drafted to suit them. In fact, a contract can help you avoid potential lawsuits, employee problems, and other conflicts. To learn more about protecting your interests with a competent contract lawyer, contact our team at Arnold & Itkin for a free, confidential consultation.
Contract Law FAQ
What are the key elements of a valid contract?
For a contract to be legally binding, it must have certain elements. Because contracts play such an important role in business transactions and operations, you must be certain that your company’s contracts are sound—and protect your interests.
There are five key elements to a valid contract:
- Mutual assent, achieved by a shared understanding of the contract.
- Offer and acceptance, in which both parties communicate their intent to enter a contract.
- Consideration, wherein both parties mutually exchange something of value to make the contract legally binding. Some contracts can be one-sided, however, with one party offering a promise and the other consideration.
- Capacity, which means both parties are of sound mind and are legally able to enter a contract.
- Legal purpose, meaning the contract should be created for a legal reason, not an illegal one. A contract to commit a crime, for example, would not be recognized in a court of law.
As Houston contract law attorneys, we know precisely how to draft, review, and litigate contracts in such a way as to protect our clients’ best interests.
What should I do if I’ve been accused of a breach of contract?
The first thing you should do is contact an attorney. Allegations of a breach of contract are extremely serious and may put you at risk of facing a lawsuit that would demand restitution for the supposed breach. Attempting to defend or explain yourself may only backfire, giving the opposition more ammunition to use against you. Even if you are in the right, you need a legal professional who can develop and present your case in a clear and convincing manner. That’s what our team at Arnold & Itkin does for our clients—and we may be able to do the same for you.
What are some remedies for a breach of contract?
If you were the victim of a breach of contract, various remedies might be available to you. These may come in the form of monetary damages and equitable relief, depending on the type of breach and the losses you’ve experienced. Compensatory damages, punitive damages, and restitution may cover financial losses that you’ve experienced. If monetary damages will not properly remedy the situation, the court may order the at-fault party to do or to refrain from doing something. These equitable remedies may include specific performance, contract performance, or contract rescission (cancellation).
Protection During Disputes & Breaches of Contract
If you want your business to remain strong and insulated from disputes (which almost always come up if you do business for long enough), creating a strong contractual framework is key. Most entrepreneurs and veteran business owners alike see their venture in the long-term; few owners want to build a short-term business.
But the reality is this: most businesses will end due to outside circumstances, and contract litigation is one of the most fatal events a business can suffer. Start-ups and first-time business owners sometimes talk themselves out of getting a contract lawyer during the early days of a major deal to "cut costs." We'll be the first to tell you: there's nothing more costly than having to hire a lawyer because a contract was unenforceable, weak, or non-existent.
Changing Your Business Contract
If you have existing contracts but feel they may need to change to suit the evolving needs of your business, our business attorneys can review the documents in question and provide a thorough evaluation and clear set of recommendations. Our business law attorneys can identify potential problems that are not adequately covered in any contractual documents and help you minimize risks before they create complications down the road. We are experienced and ready to handle all of your business and commercial needs. If you need representation or have questions, we can help provide you with the right recommendations to protect your company.
Contact a Houston business lawyer for a free case evaluation.