Riverside Business Lawyer
The Mellor Law Firm
Contracts - Drafting - Review - Litigation
The business lawyers of the Mellor Law Firm in Riverside, California, are more than skilled, experienced commercial and business litigation attorneys. They are also skilled, experienced California business transaction lawyers with years of experience drafting and reviewing many types of business contracts, business agreements, and business leases including:
- contract terms negotiation
- commercial leases
- construction management contracts
- hardware and software development, licensing, and distribution agreements and contracts
- equipment lease agreements
- stock option, phantom stock, bonus, and profit sharing agreements and contracts
- employment contracts (nondisclosure / confidentiality agreements, invention assignment contracts, non-competition / non-compete agreements)
and reviewing are also skilled, experienced draft and review contracts on behalf of business owners and managers throughout Riverside County, San Bernardino County, and Orange County. The Mellor Law Firm's business law attorneys draft contracts, review business agreements, and provide business, commercial, and breach of contract litigation representation, to clients in Riverside, California, and throughout "The IE" including Orange County, San Bernardino County, and Riverside County.
The following information is general in nature, and is not intended to address your business contracts concerns. Contact the California business transaction and commercial litigation attorneys at the Mellor Law Firm to schedule a consultation.
The Mellor Law Firm, Riverside, CA family law firm, represents clients in Riverside County, San Bernardino County, Orange County, and the Inland Empire including the California communities of Riverside, Moreno Valley, Temecula, Norco, Murrieta, Hemet, Fontana, Victorville, Barstow, Indio, San Bernardino, Corona, Rancho Cucamonga, Irvine, Newport Beach, Santa Ana, and Orange.
Contracts - An Overview
Most people enter into and create contracts every day. Gaining a broad understanding of the basics of contract law can give you an important advantage in your business dealings. In addition, a broad understanding will help you to recognize the point at which you will require skilled and experienced legal counsel to assist in your contract matters.
An attorney can assist you in all of your contract concerns.
Contract Defined
A contract is a promise, or set of promises, that the law will enforce. The law gives remedies for the breach of an enforceable contract.
Creation of a Contract
The essential elements in the creation of a contract are:
- Offer,
- Acceptance, and
- Consideration (bargained for exchange)
Types of Contracts
A contract may be in many forms.
- Barring some exceptions, a contract can be written or oral.
- A contract may be classified as a bilateral contract, which is an exchange of promises.
- A contract could also be classified as a unilateral contract, which can be accepted simply through an offeree's performance rather than a returned promise.
- A contract can even be implied by conduct that clearly shows a manifestation of agreement to be bound by the offeror's terms.
The Law that Governs Contracts
It is important to recognize that a contract may be governed by one of two distinct sets of law. The determination depends largely on the subject matter of the contract. Most contracts are governed by the common law, which is generally judge made law. However, contracts that are primarily for the sale of goods are governed by Article Two of the Uniform Commercial Code.
Performance and Breach of a Contract
Once a valid contract exists, a party is under the duty to perform the agreed upon contractual duty. A breach of contract occurs when a party fails to perform. A breach is material if the breaching party fails to provide the non-breaching party a substantial benefit of the bargained for exchange. A breach is immaterial if there were small deficiencies in performance but the non-breaching party still received the substantial benefit of the bargained for exchange.
Remedies for a Breach of Contract
The main remedies that the non-breaching party may pursue depend largely on the injury suffered. Some remedies include:
- Damages which are aimed at putting the non-breaching party in the position that they would have been but for the breach
- Specific performance
- Cancellation and restitution, and
- Quasi-contractual remedies
Defenses to a Breach of Contract Claim
There are situations in which a contract may be voidable or unenforceable. These are grouped under the heading of contract defenses.
First, a contract may be voidable if there is a problem at the formation stage. This may include
- mutual or unilateral mistakes,
- fraudulent misrepresentation,
- lack of consideration, or
- an illegal subject matter.
In addition, a contract may be unenforceable if one of the parties to the contract lacked the capacity to contract. Capacity may involve:
- age,
- mental infirmities, or
- intoxication
Finally, there are certain contracts that must be in writing under the Statute of Frauds. Contracts that must be in writing include
- promises related to interests in land,
- promises in consideration of marriage,
- administrator's promises to personally pay estate debts,
- promises to pay the debt of another,
- a promise that cannot be performed within a year, and
- a promise for the sale of goods of $500 or more.
Conclusion
Understanding the basics of contract law is a good start in effective contract formation and negotiation.
Contact an attorney with your contract questions or concerns.
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