As a business owner, you will likely encounter clients who delay paying for goods or services or fail to pay altogether. This can affect you considerably, as you need their payments to qualify as a profitable business. Here are four steps to follow when a customer...
Business Law
What to do when a supplier fails to deliver
Your supplier plays an integral part in your business as they ensure you have needed goods or services to operate. Therefore, if they fail to deliver within the agreed time, you may be inconvenienced. Here is what to do if this happens: Contact them In most cases,...
3 signs you need to reconsider your business partnership
Many business owners look to make their jobs easier while also looking for opportunities to grow. One way this can be done is to start a business partnership. A business partner can help strengthen a business by providing new perspectives, taking on work and building...
Responding to a breach of contract scenario
There are few businesses that are able to operate effectively without any contracts in place. Contracts facilitate company operations as varied as purchasing supplies, hiring staff and protecting intellectual property. Contracts set expectations, outline the...
My partner is stealing from the business. What do I do?
Two heads are better than one. Nowhere is this adage true than in a business partnership. When you get it right, the right partnership can take your business to greater heights, make profits and bring your dream to fruition. Learning that the partner you trusted with...
4 common remedies for breach of contract
A contract breach can cause unimaginable losses, and it is only fair that you are compensated for your losses. Fortunately, remedies that can help cure the breach and protect your financial interests are available. The appropriate remedy varies depending on the terms...
Contracts can be breached in various ways
As a business owner, you rely on contract law for most of your activities. You have contracts with staff, customers, vendors and service providers. For the most part, these contracts strengthen the legal rights of all parties and as long as nothing goes wrong, you may...
What are your rights when a construction client won’t pay?
Construction is a dangerous but potentially profitable industry. You have safety risks for any workers that you employ, ranging from the possibility of them falling off of a roof to the ever-present risk of electrocution. As a business owner, the most pressing issues...
2 options when a business’s non-performance hurts your company
Contracts are a standard part of business, used for everything from renting commercial spaces and hiring new employees to locking in delivery schedules with suppliers. When you sign a contract, you expect the other party to follow through with their promises to you. ...
Can you legally enforce a verbal contract in Texas?
Texas is unique in many ways -- including the fact that many people who dwell here still feel that their word is their bond. However, are verbal contracts really binding? They may be. Keep in mind that some agreements must be in writing (such as the sale of real...