While most people think a contract is a signed legal document that dictates specific terms for two or more parties, the legal definition of a contract allows for a broader set of terms.
While most people think a contract is a signed legal document that dictates specific terms for two or more parties, the legal definition of a contract allows for a broader set of terms. It is important to understand what is legally considered a contract to best avoid breach of contract disputes.
Contracts must contain two elements, (1) all of the parties involved must be in agreement, and (2) something of value must be exchanged. This does not specify whether the contract has to be written, nor does it require that cash be exchanged, just something of value.
While what can be considered a legally binding oral contract varies from state to state, but in Texas some contracts must be written to be considered valid. Some of these include:
To best avoid contractual disputes, it’s crucial for individuals and business owners to know when they are committing themselves or their businesses to contracts. When another party makes an offer, whether it’s oral, in a written document, or electronically (via email), your response will dictate whether or not you’ve entered into a contract. If you agree to the offer, whether verbally or in writing, you are bound to uphold your end of the contract. If you refuse the offer, or choose not to respond at all, you have not agreed to enter into a contract.
One of the most common sources of business disputes is breach of contract. Once a legally enforceable contract is in place, parties involved have a legal responsibility to uphold their duties stated in the contract. When they fail to do so, they can be held responsible for breach of contract.
Oftentimes after a breach of contract, parties unintentionally waive their rights, or fail to take proper steps to preserve claims for damages. The experienced attorneys at Burford Perry can help make sure you protect yourself and your assets, and ensure the other side honors its promises. Contact us today if you feel like a contract you agreed to is not being upheld.
Entering into business partnership can be a very exciting prospect. However, partners might experience a dispute that cannot be easily resolved. When faced with a partnership dispute, it’s important to understand what is and is not expected of you.
Entering into business partnership can be a very exciting prospect. However, for a variety of reasons, partners might experience a dispute that cannot be easily resolved. When faced with a partnership dispute, it is important to understand what is and is not expected of you so you know what not to do or say or produce in your case.
The experienced partnership dispute attorneys at Burford Perry understand the intricacies of the duties imposed on officers, directors, and partners. We have extensive experience working with both plaintiffs and defendants in complex business disputes. If you are involved in a partnership dispute, the Houston business attorneys at Burford Perry can help you make the best decisions for yourself and your business. Contact us today to discuss your case.
A fiduciary duty is a legal duty to act in the best interest of another party. With such a broad definition, you must understand your specific responsibility, how it can be applied, and what is expected of you to fulfill your duty.
A fiduciary duty is a legal duty to act in the best interest of another party. With such a broad definition, it can be applied in a multitude of situations. To ensure you are fulfilling your duty, you must understand the duty, how it can be applied, and what is expected of you.
Fiduciaries, or the parties owing this duty, have a special relationship with the principals or the parties to whom they owe the duties, wherein they act on the principal’s or parties’ behalf. Fiduciaries may not benefit from the relationship with their principals unless they have the principals’ consent. Additionally, fiduciaries have a duty to avoid any conflicts of interest between themselves and their principals or between the principals and any of the fiduciary’s own clients.
Fiduciary relationships can include those between a lawyer and client, a guardian and ward, or more commonly between a director or board of directors and shareholders. Regardless, a fiduciary must always act in the utmost good faith, perfect candor, openness, honesty, and total absence of any concealment or deception.
A breach of fiduciary duty occurs when a fiduciary, such as an officer, director, agent, executor, administrator or trustee, obtains profit through self-dealing or causes losses through a breach of his or her duty. Whether or not a fiduciary duty has been breached is not always cut and dry, because many such relationships involve complex financial and business matters. A careful examination of the details of fiduciary accounts and transactions is required to establish if a breach of duty has occurred.
Because the fiduciary duty is the strictest duty of care recognized by the legal system, you need the experienced fiduciary litigation attorneys at Burford Perry to evaluate your situation. With extensive experience and success in business litigation, our attorneys can properly assess the damages or suggest an equitable solution. Review our selected cases to read more about our victories involving fiduciary liability claims, and contact us today if you are concerned with breach of fiduciary duty.
Over a year after Cameron Redus was shot and killed by a University of the Incarnate Word police officer in an off-campus traffic stop, the UIW attorney argued that the private university should also be considered a “governmental unit” and therefore not liable under the Texas Tort Claims Act.
More than 20 months after Cameron Redus was shot and killed by a University of the Incarnate Word police officer in an off-campus traffic stop, the UIW honor student’s parents sat in court Wednesday morning, listening to a UIW attorney argue that the private university should also be considered a “governmental unit” when it comes to law enforcement and therefore not liable under the Texas Tort Claims Act.
In March, a Bexar County grand jury cleared the now former UIW police officer Christopher Carter in the December 2013 fatal shooting but the Redus family’s civil suit against Carter and UIW, filed in May 2014, has yet to officially begin due to several pre-trail motions and appeals filed by UIW.
If successful, UIW could receive immunity from the Redus’ suit and any future litigation brought against it pertaining to its campus police force. Wednesday’s arguments were heard by Fourth Court of Appeals Justices Patricia O. Alvarez, Karen Angelini, and Jason Pulliam. It’s unknown how long they’ll take to issue a ruling, which could take as little as a couple weeks to several months.
“The only thing this appeal (has achieved) is delaying discovery and the lawsuit,” Redus family attorney Brent Perry told reporters after the hearing. Perry said UIW’s various filings of motions and appeals is a stalling tactic.
UIW Chancellor Denise Doyle firmly rejected that notion.
“We are using the law to defend ourselves,” Doyle said. “That is our responsibility.” read more