A comparison the United States law of contracts with the law of contracts of the People's Republic of China.
A comparison the United States law of contracts with the law of contracts of the People's Republic of China.
Whether you are a small business owner or a corporate executive, understanding the various types of business law is essential for protecting your company's interests. From contracts to intellectual property rights, every entrepreneur should be familiar with four main business law categories.
It is vital that a corporate entity follows all local laws, state laws, and federal laws. Business law covers a wide range of topics such as contracts, property rights, corporate governance, taxes, business formation and dissolution, consumer protection, environmental regulations, and many more.
The Definition. First off, it's important to know what business law refers to. Primarily, business law is centered around five areas. These areas are Contract Law, Labor Law, Accounting Law, Environmental Law, and Tax Law.
Existing law, the Small Business Procurement and Contract Act, requires state agencies to take certain actions in order to facilitate the participation of small businesses and microbusinesses in the provision of goods, information technology, and services to the state, and in the construction of state facilities.
Contracts can be divided into Validity, Formation, Performance, Obligation, Content, Specialized Business Contracts, and Duration.
Contracts are promises that the law will enforce. Contract law is generally governed by state common law, and while general overall contract law is common throughout the country, some specific court interpretations of a particular element of the contract may vary between the states.
Tells the court that you had legal papers in a civil case - other than a summons - delivered to (served on) the other party. Lists the papers that were served and tells who they were served on, where, when, and how they were served, and who served them.
Conclusion: Going to small claims court may be worth it for $500, but it will determine how you weigh your costs versus benefits. At a minimum, it is worth it to send a demand letter.
As an individual you can use Small Claims Court if your claim is for $12,500 or less. If you are an individual who owns a business (i.e. sole proprietor) and do business under a fictitious business name, you are considered to be an "individual" in Small Claims Court.
A losing party pays attorney fees only if the winner is specifically given the right to recover legal fees in a contract between the parties or through a state or federal law. Learn about preparing a defense in Disputing a Small Claims Court Case: Fight Back.