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Frequently Asked Questions about Contracts
Q: What is an offer and when can an offer be withdrawn?
A: An offer is the first step in forming a contract. An offer can be any action that creates a reasonable expectation in the offeree that the offeror is willing to be bound by the terms proposed. As long as nothing has been paid or given up to hold an offer open, the offeror can withdraw or retract the offer at any time before its acceptance by the offeree.
Q: Once there is an offer how is a contract finalized?
A: In simple terms, the second and final major step in forming a binding contract is acceptance of the offer. The parties must have a meeting of the minds about all the material terms of the contract. An acceptance may be express or, in some circumstances, by reasonable implication. If the accepting party does not agree to all the terms offered, he or she may make a counteroffer.
Tampa, Florida, Contracts Lawyer
Business law attorneys at Thorn Lawrence, P.L. in Tampa, Florida draft and review contracts concerning all aspects of business law. Our contract lawyers work to help our clients achieve their goals and protect their interests. Breach of contract and contract disputes can arise in a variety of circumstances. Our firm has extensive experience successfully handling contract law disputes. If you are involved in a business and regularly entering into contracts, seek dedicated representation at the law firm of Thorn Lawrence.
Contracts - An Overview
Contracts are an integral component of all business ventures. Whether you are a small, family-owned enterprise or a large-scale operation, the foundation of your organization rests upon its contracts. It is extremely important that you seek the advice of a knowledgeable and experienced contract attorney to help you with your business contract needs. A lawyer from Thorn | Lawrence, P.L. in Tampa, Florida, can assist you with all of your contract needs.
When drafting contracts for a new or existing enterprise, it is necessary to predict future situations your business may encounter. Quality business contracts take into consideration a multitude of factors that may not be obvious to you as a business owner. Whether you are opening a sole proprietorship or entering into a partnership, or embarking on a new endeavor in the course of an established business, you should seek the advice of a trained contract attorney to help you protect your rights and your business.
Contract Defined
A contract is an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law.
Contract Basics
Regardless of the type of business you own, you will be required to draft and negotiate contracts for and with your employees, vendors and customers. These contracts form a cornerstone of your business by determining how it will be run. Therefore, it is important that you seek the advice of an attorney with business-contract experience. Whether you are a first-time business owner or an established entrepreneur, consult an experienced lawyer regarding your business needs today.
Contract Negotiation and Formation
As a business owner you will often seek advice regarding contracts from an attorney. It is also beneficial, however, for you to have a basic understanding of how high-quality contracts are negotiated and formed. An attorney who is skilled in creating business contracts can assist you with your contract formation and negotiation questions.
Common Business Contracts
As a business owner it is important to have a basic understanding of common business contracts. In this article you will find information regarding contracts commonly used when forming or expanding a business. A knowledgeable attorney can assist you with your business-contract questions today.
Breach of Contract
Although carefully crafted business contracts reduce the likelihood of litigation, they cannot guarantee that everyone with whom you have contracted will hold up his or her end of the bargain. In such circumstances it is important to have an understanding of the basic principles of breach of contract. A breach can occur under many different circumstances and with varying degrees of impact on your business. A business-contract attorney can help answer your breach of contract questions today.
Contracts Resource Links
US Department of Commerce (DOC)
Federal agency responsible for promoting domestic business and international trade.
US Small Business Administration (SBA)
The federal agency that advises and assists small businesses.
The Uniform Commercial Code (UCC)
The main law that regulates the rights and obligations of buyers and sellers engaging in commercial transactions. The UCC has been adopted by all states in whole or in part.
Drafting Legal Documents: A Resource Guide by Kelly Kunsch, Seattle University Law Library
A guide to recommended resources on legal drafting.
Legal Information Institute - Contract law overview
Contract law overview, providing links to other sources.
