Well-Written Contracts Are Foundational For A Successful Business
A well-written contract can steer parties clear of trouble and increase productivity under the agreement. A thorough contract can speed up the execution of the parties’ goals by providing guidelines for all parties to reference. Rather than consuming time by contacting the other party, a party questioning his duties under the circumstances may simply review guidelines laid out in the written agreement. This allows the parties to accomplish their goals under the contract more efficiently.
Contracts can obviate the need for litigation in the event of a dispute by several methods. Contracts can prevent disputes before they form by anticipating contingencies and requiring a particular course of performance. Parties are less likely to begin a dispute if they signed an agreement requiring particular behavior in their precise circumstances.
Contracts often call for mandatory arbitration or other alternative dispute resolution measures in the event of a dispute. Alternative dispute resolution does not mean the breaching party cannot recover damages or secure performance of the breaching party. It means only that the parties will resolve their dispute through means other than a time-intensive, costly lawsuit. If alternative dispute resolution somehow is not an option or does not succeed, a contract can still grant the non-breaching party a wealth of remedies at law. Working with an experienced business law attorney can help you protect the best interests of your business transactions.
Diab Law Firm, PLLC, provides knowledgeable counsel for businesses throughout Texas. Attorney Samy Diab can answer your questions and will provide a road map for your business’s success. Contact the firm in Houston for a consultation.
Texas Law Requires A Written Contract For Some Agreements
A contract allows you to enforce your agreement in court, and the law may even require a contract. Under the Texas Statute of Frauds, some agreements must be in writing, such as:
- Real estate sales
- Any agreement that cannot be completed in one year or less
- Agreements for payment of oil and gas commissions
- Some agreements regarding the outcome of medical treatment
Agreements that are not formally in writing cannot be enforced. A party may breach an out-of-compliance agreement without fear of enforcement in court. Conversely, a written contract, whether required by the Statute of Frauds or otherwise, allows a non-breaching party to enforce an agreement. A written contract opens a wealth of remedies to the non-breaching party.
Contact An Experienced Business Law Attorney For A Consultation
Whether you want to incorporate a fledgling business, secure a transaction with a written contract or solidify your present or future business with general business counsel, no task is too big or too small for Diab Law Firm, PLLC. Call or complete the online form to schedule a consultation.