South Elgin Business Contract Lawyers

Attorneys for Business Contract Drafting, Negotiation, and Review in Kane County

Contracts are fundamental to businesses, serving as legal agreements between parties for virtually all relationships. Although verbal contracts are possible, they are discouraged, since they can be difficult to enforce. Being able to stand on the strength of a written contract is essential, especially when contract disputes, misunderstandings, and conflicts over the interpretation of a contract's terms may arise.

Ariano Hardy Ritt Richmond Lytle & Goettel P.C. is a reputable law firm that focuses on serving the needs of our clients, which range from small business owners to large corporate entities. The size of your business will never dictate the level of service we provide. We cater to the needs of entrepreneurship at every level, in every form. As you address issues related to business contracts, we can make sure your rights and interests will be protected

Contract Purpose and Characteristics

Essentially, contracts define the way business is conducted, holding each party responsible for certain actions by the terms of the agreement. For the best possible outcome, it is best to have the assistance of an attorney throughout the drafting, negotiation, and review process.

In general, there are several elements that make up a legal contract. These elements include, but are not limited to:

• Defining the Parties: This refers to every individual or entity that will be a part of the agreement.
• Purpose: The reason for the contract must be legal. Illegal actions are not protected or recognized.
• Offer and Acceptance: This portion of the contract defines what actions, services, or responsibilities are required by each party.
• Consideration or Benefit: What does each party gain by entering into the contractual agreement? In a contract, considerations define the value and advantages of establishing the relationship.
• Terms and Conditions: This is a detailed account of each action a party will commit to performing.
• Intent: This explains that all parties are aware of said agreement and are willing to be bound by its terms.

Once a contract is signed by all parties, it is considered binding. Signing indicates acceptance. Prior to signing, our contract lawyers strongly recommend a legal review of the document. We can perform these reviews, identifying potential concerns and helping clients make sure their rights will be protected.

Business Contract Types

At Ariano Hardy Ritt Richmond Lytle & Goettel P.C., we help our clients address concerns related to several types of contracts. Whether you are the initiator of a contract or responding to an offer, we can help. We assist with agreements including, but not limited to:

• Distributor agreements
• Financing agreements
• Residential real estate purchase contracts
• Commercial real estate transaction contracts
• Business sale agreements
• Employment agreements
• Partnership agreements
• Condominium and homeowner association agreements

Whenever you wish to establish or be part of a business agreement, it is crucial to make sure you fully understand the implications of entering a contract. We can offer support to help you make sound choices.

Breach of Contract

When a party does not comply with obligations stated in the terms of a contract, this is referred to as a breach. These breaches are some of the primary causes of commercial litigation. Examples of breaches of contract include failure to perform work according to the outlined standards, missed deadlines for project milestones, and payment delinquencies. A plaintiff must show the clear existence of a contract and how the contract terms were breached, which often may be subject to interpretation. We can provide litigation support, working to ensure that disputes related to contracts can be resolved successfully.

Contact Our South Elgin, IL Contract Drafting & Review Attorneys

Contact the Kane County business contract lawyers at Ariano Hardy Ritt Richmond Lytle & Goettel P.C. today to get legal help with issues related to contractual agreements. We have vast experience in issues related to contracts across a diverse spectrum of markets and industries. We will work to gain a firm understanding of your overall goals and help you protect your interests. Call 847-695-2400 now to set up a free consultation and discover why we are a leading legal resource in the business community in Kane County. We serve Elgin, South Elgin, Huntley, and villages throughout the western suburbs.