Every first year law student in the U.S. takes a course on the Law of Contracts. It’s a rite of passage where lawyers-to-be learn all about things like consideration and legally-enforceable promises.

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

Legal precedent comes from court decisions where judges are asked to interpret the law, and once a court rules on an issue, legal precedent becomes the law. This means that legal precedent and ...

The "Pareto Principle," which holds true for many business cases, suggests that 80% of issues can be corrected by learning 20% of the solutions. We believe contract drafting is the same: identifying ...

Identify the purpose of the transaction, which dictates its structure. Determine whether the transaction: involves the provision of goods (for more information, see Sale of Goods Agreement (Pro-Buyer) ...

Assume you are under the influence of a truth serum; does you company have a contract management system? Some will say yes; I suspect most will say no. My question is why not? Lawyers love contracts.

As a business owner, you may need to wear many hats and have knowledge in a wide range of subject matters. To help your business to continue to grow, it's helpful to be aware of basic legal issues.