Partnership disputes can change the direction of a business -- and not usually in a good way. There are several things that you can do to reduce the chance that the dispute with the person you went into business with will lead to the dissolution of the company or your relationship.
Are business contracts complicated? Yes, almost all the time. This is why many successful business owners have attorneys dedicated to the task of writing and reading them. But it never hurts people who are subject to business contracts to understand the basic terms they include.
Writing contracts are a big part of business, and lawyers are often best involved on both sides of a deal so the text of an agreement is clear and stands up in court. One of the most important parts of the business environment involves the feeling of trust and faith in a shared system -- but that means every party to a business agreement has to uphold their end of a bargain.
Some of the earliest business contracts in United States history were government contracts. North Carolina was making deals with private entities and business in the 17th century. Now, government contracts are a big part of commerce for the Tar Heel State and many of the businesses based there.
It's time to write a contract. Maybe a business needs to rent a space for a retail opportunity. Maybe a commercial opportunity needs to be codified between all of the people and entities working on it. A contract can accomplish or protect a lot, as well as save time sorting out disputes in the future.
Business disputes could lead to crime or even war in earlier phases of human history. Now, things are far more civilized and results are more predictable. Entire courts and court systems address the needs of business owners and managers with disputes to resolve. Although contracts can do a lot to prevent future disagreements, they may not always be honored.
There's an old saying that oral contracts are not worth the paper they are printed on. This is why anyone engaged in a commercial transaction in North Carolina will probably want terms in writing. But sometimes a contract is not worth the paper it is printed on either.
If you're in North Carolina, there's a higher chance than most states that you have some experience with the military. A large proportion of Tar Heels end up serving in the Army, Navy or Air Force. Camp Lejeune and other military installations in the state also bring a lot of civilians jobs that serve and interact with military personnel.
If a small business is setting up a vendor relationship or signing a client, it may be cause for celebration but not much pomp and bureaucracy. It may be relatively easy to set a goal for the interaction and communicate them with all parties. But details should always be secured in business by some sort of contract.
The realities of the business world make contract disputes inevitable in North Carolina and around the country. When parties renege on their contractual commitments or do not interpret an agreement's provisions in the same way, an experienced attorney taking a proactive approach can mean the difference between a swift and amicable resolution and a long and costly legal action.