Contracts

Signing a contract

Contract Lawyers in San Antonio

Contracts are the foundation of any deal that a business makes. Contracts help businesses purchase supplies, sell products, employ workers, and purchase or rent the space in which they operate. Because of the importance and complexities of contracts it is important to have an experienced contract attorney help your business negotiate, draft, and review its contracts. A properly drafted contract helps define what risks, benefits, and liabilities each party is responsible for. If something goes wrong between the parties the contract is where they will look to determine who is responsible and what their rights are.

Estorga Johnson Law Firm PLLC is here to help small business owners throughout Texas, the Texas Hill Country, San Antonio/Bexar County, Seguin/Guadalupe County, Kerrville/Kerr County, Bandera/Bandera County, New Braunfels/Comal County, and Boerne/Kendall County protect their interests and get a fair deal by carefully negotiating, reviewing, and drafting  their contracts.

What is a Contract?

A contract is an agreement between parties in which one or more of the parties promises to do something in return for something of value. There are three main elements that have to exist for a contract to be binding:

  • An offer: one party promises to do or not do something;
  • An acceptance: the other party accepts the terms of the offer without changing those terms;
  • Consideration: the parties must exchange something of value (the most common example is money)

In addition to these three elements, there must be mutual assent, often called a “meeting of the minds.” Mutual assent means that all the parties understand and agree to the material terms of an agreement.

Does a Contract Have To Be in Writing?

No. Usually. Verbal contracts are usually enforceable if the elements above exist and the parties meant for the agreement to be binding. However, there are some contracts that must be in writing. These contracts are listed in a law called the “Statute of Frauds.” Some of the contracts that must be in writing are:

  • Guaranties of the debt of another person;
  • Agreements on marriage;
  • A contract for the sale of real estate;
  • A lease of real estate for a term longer than 1 year;
  • A contract that is cannot be performed within one year;
  • Loans for more than $50,000; and
  • Some contracts for medical care.

Types of Business Contracts

There are many types of contracts a business may need to use. Which types of contracts your business needs depends on what your business is. However, there are some contracts such as employment or vendor agreements that most businesses need. As technology continues to develop and expand across different industries more and more businesses have a need for software and licensing agreements. Some other agreements your busines may need, include:

  • Purchase and Sale Agreements;
  • Distributor Contracts;
  • Manufacturing Contracts;
  • Property Agreements;
  • Service Contracts;
  • Master Services Agreements;
  • Service Level Agreements;
  • Releases and Waivers;
  • Insurance Contracts;
  • Vendor and Independent Contractor Agreements;
  • Employment Agreements;
  • Non-compete Agreements;
  • Confidentiality and Nondisclosure Agreements;
  • Partnership Agreements;
  • Company Operating Agreements;
  • Shareholder Agreements;
  • Buy-Sell Agreements;
  • Dissolution Agreements;
  • Financing Agreements;
  • Management Agreements; and
  • Transfer Agreements (medical care facilities).

As you can see there are many types of contracts. While there are some qualities that most contracts share, each contract has its own unique purpose and considerations. An experienced contract attorney can help ensure that your business’ contracts are enforceable and protect your business’ interests.

If your business needs a new contract or needs a contract reviewed, contact us today.