North Myrtle Beach Contract Lawyer

As one of the 14 communities in the Myrtle Beach area referred to as the "Grand Strand," North Myrtle Beach has seen rapid growth since its inception in 1968. The city's busy tourism industry and influx of new year-round residents has made it a hot spot for new and established businesses.

For most businesses in North Myrtle Beach, much of the needless litigation can be eliminated if contracts are carefully drafted and reviewed. Every business transaction should be formalized with a valid and legally binding agreement detailing the pertinent terms and conditions, thus eliminating any form of ambiguity. Contracts should be carefully reviewed to ensure that the stipulations therein sufficiently embody the true intention of the contracting parties.

If you need help writing contracts, reviewing contracts, or any other form of business law, contact us today. We would be happy to provide a complimentary consultation.

What is a Contract in North Myrtle Beach?

The definition and interpretation of contracts are provided under the Uniform Commercial Code, supplemented by Title 36---Commercial Code of South Carolina. The essential elements of a valid contract must be present in drafting. Under the law, these elements are offer, acceptance, consideration, and mutual assent.

The contract negotiation phase starts with an offer from one of the contracting parties. The offer to enter into a contract must be definite, specifying the contract's object, cause, and consideration. The other party can revoke, amend, or accept the offer. Should the other party choose to amend the offer, a counteroffer is directed to the other party, who has the option to revoke, amend, or accept the counteroffer.

The element of awareness signifies a "meeting of the minds" between the contracting parties regarding the contract's subject, purpose, and terms. On the other hand, consideration refers to something of value exchanged within a contract. For example, in a contract to sell a piece of land, the seller's consideration is the piece of land, while the buyer's consideration is the agreed-upon purchase price.

Contractual capacity refers to the legal capacity of the contracting parties to enter a contract. Minors and persons not of sound mind are disqualified from entering contracts.

Finally, the element of legality pertains to the validity of the contract's cause, object, and consideration. As a rule, the parties to a contract are free to stipulate the terms and conditions of a contract. However, the free stipulation of a contract is bound by the requirement that the cause, consideration, and object of the contract comply with the law. Thus, for instance, if the parties agree to the sale of illegal drugs, the contract is deemed void and unenforceable.

Attorney For Contract Disputes in North Myrtle Beach

Contract disputes often happen when one or both contracting parties fail to comply with their obligations in the contract. In such a case, the injured party may rescind or demand the performance of the obligation of the contract against the party at fault. However, if both parties are at fault, the parties have the right to rescind the contract and demand the return or payment of the partially fulfilled obligation. There is also a breach of contract when there is partial fulfillment of the contract's obligations.

Another common reason for contract disputes is the ambiguity of the terms and conditions of a contract. Contract terms should be drafted in a manner such that they are as free from ambiguity as possible. Thus, in contract negotiation and execution, the parties should ensure that the terms of the contract embody their true intention and can only realistically be interpreted in the manner in which they intend.

Additional reasons for contract disputes involve the parties' free choice in entering the agreement. Ideally, each party should freely enter and agree to the contract terms. However, this freedom can be compromised by fraud, undue influence, or coercion. The contract is considered voidable when this occurs, allowing the injured party to annul the agreement.

Contract disputes are bound to arise when you've been in business long enough. When they occur, it's crucial to have skilled legal representation on your side to ensure your interests are protected.

Alternative Dispute Resolution

In contract dispute cases, the parties may file for annulment, rescission, or breach of contract before the courts. The proceedings are tedious and costly. Sometimes, there are no real winners in full-blown trials, considering the time and effort in pursuing a particular claim.

In some contracts, a stipulation for compulsory ADR is agreed upon and explicitly stated therein. An ADR clause means that the parties are compelled to undergo mandatory arbitration before the case is brought before the courts. It allows parties to obtain all possible remedies before going to court.

Contact a Dedicated North Myrtle Beach Contract Lawyer

Contracts are the backbone of every business. Business transactions require valid and enforceable contracts to safeguard the business's interests.

Bespoke Estate Law handles all aspects of contract negotiation, drafting, and review to ensure that contracts are valid and safeguard the business's interests. A well-crafted and valid contract protects the business from unnecessary lawsuits, allowing the business to concentrate on maximizing revenue. Don't sweat contract legalities on your own, contact the skilled team at Bespoke Estate Law today to discuss how we can assist you. We can also help with employment issues, business formation, and any other issues requiring a business lawyer in Myrtle Beach and the surrounding areas.