A commercial contract is a type of agreement between parties whereby very specific criteria as to what each party can and cannot do is spelled out. Whether verbal, written, or implied formally or informally, a commercial contract is legally binding. As a commercial law attorney, Dan L. Claiborne explains rules to people who are involved in commerce. To conduct business, these rules must be followed.
Commercial contract laws are what govern negotiable instruments, the sale of goods and services, principal and agent relationships, security interests, contracts of carriage, and leases, among other things. When looking at commercial law from a broad perspective, it also encompasses other related issues, including tax planning and corporate bankruptcy.
Modern Day Commercial Contract Law
Commercial contract law as it is known today is the ability to form contracts. Unless a contract is executed, there is no viable way for a buyer and seller to enter into a guaranteed transaction. Without a legal contract, there is no assurance that the other party will honor the agreed-upon terms. The foundation of modern contracts is a system of rules that help form agreements. As long as the rules are followed, all involved parties have confidence that the terms will be legally enforced, if necessary.
As an expert in commercial contract law, Dan ensures that all contracts are clear, concise, and unambiguous. Dan reviews contracts to make sure they are suitable for the purpose intended, watertight for optimal protection, and compliant with current laws. Regardless if the contract is a single page for a small agreement or it contains multiple pages specific to a multimillion-dollar deal, Dan offers the required experience and expertise.
In addition to writing contracts, Dan works to minimize risk and resolve commercial contract disputes. Although he can provide you with legal assistance at any point, involvement early on is best. With that, Dan can help with the strategic planning stage and provide guidance pertaining to any relevant regulations and rules.