If you're a business owner in Raleigh, you know that contracts play a huge role in achieving success. In the same token, contractual issues can lead to lengthy legal disputes, which will cost your enterprise time as well as money. There are steps you can take prevent contract disputes from occurring however, as explained by Inc.com.
Before buying that gorgeous North Carolina home, potential buyers should carefully check out the homeowners association should one exist. HOAs exert a lot of power in our state, and some have a tendency to run amok when dealing with the homeowners whom they are theoretically there to serve.
If you're involved in the construction industry in North Carolina, you're likely aware that construction contracts are an essential element of the process. Because these documents are so important, it's important for contractors to know the different types of contracts and what protections they can offer. TheBalance.com offers insight in a few common construction contracts, and why they're beneficial.
A company has breached the contract between it and your North Carolina company, and it cost you. In fact, your bottom line has taken such a hit, you may be wondering whether your business will even recover. According to FindLaw, you may be able to recover your financial losses through a breach of contract lawsuit.
Securing a contract with a government partner is a big get for any company. Such organizations tend to be reliable, and your company's association with them will no doubt boost its reputation. Yet as many of the clients that we here at the Triangle Law Group have worked with in the past can attest to, there are certain risks that come with working with government agencies. One of these is the potential that they could walk away from your agreement for almost any reason (including those that you may feel are not justified).
If you are preparing for a big project and need to begin putting contracts into place with construction agencies you have negotiated with, chances are you have already started to discuss what preventative measures can be put into place to avoid costly disputes. At Triangle Law Group, we have helped many North Carolina construction companies to work through difficult contract challenges.
North Carolina contractors who accept or are awarded projects no doubt are eager to get started on the work. However, before anything is done, they should take the time to create a clear contract with their customers. This may well benefit both parties and hopefully prevent problems later on. If a problem does arise, however, the construction contract may help to direct a resolution.
Typically, when you enter into a contract with another party in Raleigh, the obligations of both sides are clearly spelled out. However, even in instances of ambiguity, if you fulfill your terms of the contract as you perceive them to be (and your partner raises no objections), then you may justly believe that you are holding up your end of the bargain. So what if your partner later comes to you and claims that (at least according to its interpretation) you never fulfilled your side of the agreement? Can they then go after you for breach of contract?
Your earnest money represents your financial commitment to closing on the property that you intend to buy in Raleigh. Like most, you likely assume that if the sale falls through, you are entitled to have that money returned to you. Yet what if the seller attempts to keep it? Are there situations where he or she is legally entitled to do so?
As has been detailed previously on this blog, construction contracts cannot be terminated unilaterally unless they contain some sort of termination for convenience clause. Many of the clients that we here at the Triangle Law Group have worked with in the past often feel handcuffed by such clauses. To avoid the same predicament, you may think that all you need to do is ensure your contracts do not contain them. However, a majority of public agencies in Raleigh insist upon them, and the law often provides the government with latitude when choosing to exercise them.