What Are Commercial Contracts?

Commercial contracts are agreements between two or more parties to do or not do something. The agreement can be for goods, services, money, or property. It can be written, oral, or implied by law or conduct. Typically, each party agrees to give something of value to the other party in exchange for what they are getting.

Each party also agrees that the contract is legally binding and will exchange what they have decided to. In some cases, a third party may be involved in enforcing the agreement if one of the parties does not fulfill their obligations. Whether you are a business owner or an employee, it is important to understand the basics of commercial contracts so that you can confidently enter into agreements.

Knowledgeable Litigators Handle Breach of Contract Cases

To run a business smoothly and successfully, owners often have to place their trust in the hands of employees, third-party contractors, or other companies.  When that trust is broken, it can affect business operations, profits, consumer confidence, and more.  When a party to a contract doesn’t perform, there are remedies our attorneys can seek for monetary damages or equitable relief.  These may include:

• Compensatory damages — Reimbursement for immediate monetary loss
• Consequential and incidental damages — Compensation for additional foreseeable losses caused by the breach
• Attorney fees and costs — Amounts available only if the contract expressly states they are recoverable
• Liquidated damages — Amounts specified in the contract that are payable for particular breaches, such as late or substandard performance
• Specific performance — Court order requiring the breaching party to fulfill the terms of the contract
• Punitive damages — Penalty for a party’s objectionable behavior, meant to punish the breaching party and discourage other parties from acting in a similar manner
• Rescission — Cancellation of the contract, with both sides excused from further performance and payments made under the contract returned
• Reformation — Change in terms of the agreement when the court believes there was an honest misunderstanding by the parties about what was to be performed

Skilled attorneys negotiate from a position of strength.

Resolving a business dispute outside of court saves companies both time and money.  The professionals at Nonaj Law will seek to have frivolous claims dropped or dismissed and work strategically to negotiate favorable settlements at the bargaining table.  We understand the advantages of alternative dispute resolution (ADR), including mediation and arbitration. Our skilled negotiators help our clients get their businesses back on track while avoiding the expense of litigation.

Experienced litigators press for your rights in court

If litigation becomes necessary, we build strong cases and argue them before a judge.  In addition to breach of contract, the possible legal actions that may be brought against a business are wide-ranging and can include complaints from employees, customers, other companies, or the government related to:

• Insurance
• Business torts
• Products liability
• Professional liability
• Partnership and shareholder disputes
• Banking and creditor issues, including lender liability
• Intellectual property, including copyright and trademark infringement
• Antitrust, unfair practices, and trade regulation violations
• Securities
• Breach of warranty
• Construction law
• Environmental law
• Real estate
• Toxic tort

Our attorneys will provide trustworthy legal guidance and representation for issues that protect your business’s bottom line.

Contracts

• Contract drafting — We draft contracts with an eye toward protecting your best interests in light of contingencies. Your attorney will take the time to listen to your goals and advise you on the various considerations and precautions that apply to your specific circumstances.
• Contract review — You should not sign a contract written by another person without first having an informed legal professional look over the terms and point out changes that better protect your interests. Our firm provides meticulous contract review services.
• Contract modification — If you and the other party agree to change an existing contract, we can draw up amendments to reflect the new terms. In some cases, it may be advisable to create a new contract instead.

PREVENT FUTURE LITIGATION THROUGH CAREFUL CONTRACT DRAFTING

• The key to preventing future lawsuits and commercial disputes is carefully drafting all contracts. Whether it is a non-compete agreement with an employee or a contract with a vendor, your arrangements should solve potential conflicts and address all of your business needs.

Business Transactions

Our Attorneys are dedicated to helping you achieve the results you desire by ensuring the terms of the agreement to protect your interests. We can assist you in completing the following results:

• Corporate entity creation
• Corporate restructuring
• Corporate governance and best practices
• Mergers and acquisitions
• Partnership and shareholder disputes
• Contract drafting and review
• Corporate securities and tax liability
• Asset protection
• Collections
• Labor and employment issues
• Intellectual property matters
• Commercial banking issues

Commercial Law

• Contract development and negotiation — We draft, review and negotiate contracts to ensure your business agreements represent your interests and are legally sound.
• Breach of contract claims — We handle breach of contract matters to enforce terms and defend against breaches.
• Franchise agreement review and execution — Our firm assists with the agreements involved in franchise operations.
• Insurance issues — Our attorneys handle insurance matters to protect insureds and insurers.
• Creation and enforcement of non-compete agreements — We assist with arrangements keeping employees from competing with your business during or after employment.
• Business purchases and sales — We help businesses with legal issues related to the buying and selling commercial goods and services.
• Real estate transactions and disputes — Our firm assists with property transactions and handles disputes to protect your real estate investment.
• Regulatory compliance — Our attorneys ensure your business complies with federal, state, and local regulations governing its commerce and operations.
• Litigation of tort claims — We represent and defend companies in civil litigation where damages are sought.
• Unfair competition allegations — The firm handles unfair competition claims in your business practices.

What are Examples of Commercial Contracts?

Commercial contracts may be written or verbal, formal or informal. They may relate to various types of business-related activity, such as employment, processes, and safety. Written commercial contracts are typically preferred as it is difficult to enforce a verbal one when involved in a dispute. Commercial agreements are generally used to establish terms involving business activities. Typical components of commercial contracts include an offer, consideration, or form of payment and acceptance. Our New York City Commercial contract lawyer can help you through these contracts.

Common examples of commercial contracts include, but is not limited to, what is listed below:

• General business contracts:
  • Joint Venture Agreement
  • Settlement Agreement
  • Use of Intellectual Property
• Sales-related contracts:
  • Sales of goods and services or parts
  • Purchase Order
  • Warranty
• Employment-related contracts:
  • Employment Agreement
  • Confidentiality Agreement
  • Termination Agreement
• Lease contracts:
  • Real Property Lease
  • Purchase of Real Property
  • Lease of Equipment

Need to draft a contract for your business?

Do not go at it alone — protect yourself, your business, your partners, and your employees by working with a commercial contract attorney in NYC from Rozhik Law Firm, PLLC. Our team is backed by years of experience and is prepared to guide you in creating the best commercial contract. Do not hesitate to contact our New York City commercial contract attorney.