A well-written business contract that covers all necessary bases helps reduce the risk for your Michigan business and lowers the chance of conflicts arising. However, sometimes, the contents of a contract may prove open to interpretation, leading to a potentially...
If you own a business in Michigan, then you have to be prepared for the countless relationships you will form with other people or businesses. You'll need to draft contracts for everything from leases and vendor agreements to employment contracts and NDAs. If you're...
A contract is a legally binding agreement between two or more parties. It can be oral or written, but it is generally enforceable in a Michigan court. You can use contracts in a variety of situations, such as when you are buying a car, renting an apartment or starting...
You can work on a sale for days or even weeks; however, you may not get what you want if your negotiation strategies are not great. Anxiety, hesitation and lack of confidence make many business owners and sales reps in Michigan lose out on a good deal. If you want to...
As a business owner in Michigan, you often enter contracts with other businesses for supplies or services. Although you don't expect it to happen, a breach in the contract is always a possibility. Here is what you need to know about the different types of breaches....
Purchasing a home or a condo represents a significant monetary investment. It also requires investing a considerable amount of time and energy to secure the ideal dwelling. While real estate agents can speak the “language” and provide necessary insight, a little...
Breaching a contract in Michigan is a serious matter that could cause thousands of dollars in damages. A letter of intent is generally non-binding, but the terms can be written to be binding, so the plaintiff can use this document to sue the defendant for damages....
Michigan law requires that you negotiate contracts in good faith. This means that you must not seek an unconscionable advantage, attempt to defraud or have malice when you negotiate a contract. The goal is to find an agreement that satisfies both sides. Ask what's...
Negotiations begin as soon as someone else shows interest in your idea or invention. Every major deal in Michigan must be written down in a formal agreement. Negotiations are made and continue for as long as necessary to help you get the fairest deal. Make sure it's...
A contract protects parties to the contract when something goes wrong or can, in some circumstances, prevent something from going wrong. For that reason, when negotiating a contract, parties to the contract should know what to consider when drafting a contract....
