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Time Business News
27-05-2025
- Business
- Time Business News
Why Every Business Owner Should Understand Contract Law
Every business owner makes deals. Whether you're signing a lease, hiring a service provider, or working with a new partner, contracts are part of your daily operations. But a simple mistake in a contract can cost you time, money, or your reputation. That's why understanding contract law isn't just helpful it's essential. Contract law helps create fair agreements that both parties can rely on. It provides the structure behind every deal, whether verbal or written, and offers protection when one side doesn't hold up their end of the bargain. Even if you've never hired a lawyer before, learning the basics of how contracts work can keep your business safe from legal trouble. A contract is a legal agreement between two or more people or companies. Each party agrees to do something of value, like deliver a service, make a payment, or provide goods. To be legally valid, a contract must include an offer, acceptance of that offer, consideration (meaning something of value exchanged), and a mutual understanding of the terms. If these elements are missing, the agreement might not hold up in court. While verbal agreements can be legal, written contracts offer more security. A written document is easier to enforce and reduces the chance of disputes. According to the Legal Information Institute at Cornell, written contracts provide clarity and a solid record of the promises made by both sides. Contracts protect your business. They make sure everyone involved knows their rights and responsibilities. A strong contract lays out exactly what each party must do, when they must do it, and what happens if something goes wrong. Without a contract, you leave your business vulnerable to disputes, unpaid invoices, or unfinished work. For example, if a supplier fails to deliver products and there's no contract in place, it becomes difficult to claim damages. With a written agreement, you have proof to defend your position. If you're unsure what should go in a business contract or how to draft one, you can browse detailed advice in LawRuleBook's legal guides section, which breaks down various contract scenarios in plain English. Too many business owners rely on outdated templates or contracts pulled from random websites. Others skip the contract entirely and trust informal arrangements. Both approaches can cause serious problems. Some of the most common mistakes include vague deadlines, unclear responsibilities, missing payment terms, and failing to include a dispute resolution process. A poorly written contract can be hard to enforce and might not protect your interests. According to NOLO's legal resources, one unclear sentence could shift the outcome of a lawsuit. Instead, take the time to draft contracts that reflect your specific deal. Include all terms, even the ones that seem obvious. Spell everything out clearly ambiguity is your enemy in court. No two deals are exactly alike, so every contract should be customized. Whether you're hiring an employee, licensing a product, or outsourcing your marketing, tailor the language to fit the specific agreement. A good contract should answer key questions. What does each party agree to do? When will it be done? What will it cost? What happens if someone doesn't deliver? These details are essential. If you leave anything out, you risk confusion or legal trouble. If you're not sure how to create a strong contract, it's smart to talk to a lawyer. You can connect with a professional who focuses on contract law through Law Rule Book's contract law attorney directory. Getting help upfront is much cheaper than dealing with a lawsuit later. When one party doesn't follow through, it's called a breach of contract. If you're on the receiving end, you may be entitled to cancel the agreement, recover damages, or take legal action. The legal outcome depends on the type of breach and the terms of your contract. Courts often look at whether the contract was clear, reasonable, and fair. That's why it's so important to write contracts with enforceable language. According to the American Bar Association, a breach can lead to compensation, contract termination, or court enforcement. But to win your case, you need strong documentation and clear terms from the beginning. Before you sign any contract, take the time to review every line. Make sure all names and roles are listed correctly. Check that dates, payments, and obligations are specific and measurable. Look for clauses about what happens in a dispute. If anything is confusing or seems risky, ask questions or get professional advice. Never assume something is standard, what's 'standard' for one business may not be safe for yours. A quick consultation with a lawyer now can save you from months of legal stress. To find experienced help near you, use this contract law attorney resource from Law RuleBook. Contracts are not just paperwork they are the backbone of your business deals. Understanding contract law helps you work smarter and avoid preventable mistakes. Whether you're forming a new partnership, hiring services, or closing a sale, use clear, fair contracts that protect your interests. Avoid shortcuts, read the fine print, and when needed, get professional support. Strong contracts build trust, prevent conflict, and give your business a solid foundation. If you're looking for more business-friendly legal information written in plain English, visit where we break down the law for real-world use. TIME BUSINESS NEWS
Yahoo
21-04-2025
- Politics
- Yahoo
Texas anti-squatter bills could mean faster evictions. Here's what renters should know
Texas lawmakers want to prevent squatters from violating tenant rights and landlords' properties. The Texas Senate passed Senate Bill 38, and it's now in the House. Meanwhile, the House introduced its own version of an anti-squatter bill, House Bill 32, that, if passed, would go into effect Jan. 1, 2026. What do these bills say about tenant rights, and are they actually helpful for Texas renters and homeowners? A squatter is a person who occupies an abandoned or unoccupied property without the legal right to do so. Squatters may move into a property for a variety of reasons, such as to find shelter, to avoid paying rent, or to claim ownership of the property. In Texas, squatters can claim what is known as adverse possession, which allows the trespasser to legally claim ownership of a property after a certain amount of time has passed. According to NOLO, adverse possession is a legal principle that enables a trespasser — often a neighbor but occasionally a stranger — to obtain rightful ownership of another person's land. Originating in early British legal traditions, this concept now primarily serves to ensure fairness. It applies when a property owner has neglected or overlooked a piece of land while someone else has continuously occupied, maintained, or utilized it for an extended period. Forcing the long-term occupant to leave under such circumstances could result in undue hardship or injustice. According to the squatter must do the following to claim adverse possession: either occupy the property for three years with a color-of-title lease; live on the property with a deed in their name, pay property taxes and cultivate the land for five consecutive years; or occupy and improve the land for at least ten years. Other requirements also include: There is no valid lease agreement. They must live on the property. The squatter must be physically present on the property as an owner to file a claim for adverse possession. To file an adverse possession claim, the squatter must not share the property with anyone else. They must show that they're openly living on the property and can't share it. The squatter has to live continuously on the property for three to ten years. If the squatter abandoned the property for months or years, they are no longer considered in possession of it and, therefore, cannot file a claim for adverse possession. On April 10, SB 38 passed the Texas Senate with a 21-8 vote. The bill was written by Senator Paul Bettencourt. In a statement, Sen. Bettencourt said the current tenant laws allow squatters to occupy properties through legal loopholes. "The current process is so broken that it punishes the rightful property owners while rewarding trespassers who know how to game the system, Bettencourt said. "In the interim hearing, a homeowner testified a squatter broke into her mesquite home, sold her belongings for pennies on the dollar, and then a JP in Garland, Texas ruled to keep the squatter in her home over the holidays denying her the right to come home for Christmas! You can't make these up, as squatter horror story after horror story was told." Here's what's proposed under SB 38: Establishes a fairer, faster process to remove squatters, requiring courts to act within 10 to 21 days of a property owner's filing, clarifying the delivery method for the Notice of Vacate. Takes out appeals that stall evictions, reinforcing judicial discretion. Confirms that Justice of the Peace courts may set a hearing to motion for summary disposition. HB 32 in Texas introduces significant changes to eviction procedures, particularly affecting tenants. Here are some key points from the bill: The bill streamlines eviction suits, making it easier for landlords to remove unauthorized occupants. It restricts counterclaims in eviction cases, meaning tenants may have fewer legal avenues to challenge evictions. Only the Texas Legislature can modify eviction procedures, preventing local governments from enacting tenant-friendly policies. Landlords must provide at least three days' written notice before filing an eviction suit for nonpayment of rent, unless a different period is specified in a lease. According to a Texas Tribune article in March, legal advocates say HB 32 and SB 38 aim to simplify and expedite the eviction process, potentially enabling landlords to remove tenants with fewer procedural safeguards than currently required. This change may reduce the time tenants have to respond to eviction notices or present their case in court, making it more challenging for them to protect their rights. Mark Melton, an attorney who leads the Dallas Eviction Advocacy Center, said HB 32 is harmful to Texans' rights. "There is nothing lawful or fair about this bill at all," he said. "In fact, it is extremely and obviously unconstitutional.' Adam Swartz, a Dallas County justice of the peace judge said the bills are an exaggeration of what the actual problem is. "This bill seems like trying to kill a mosquito with a shotgun,' he said. Removing a squatter requires a law enforcement officer with a valid court order. According to the Texas State Law Library, if a squatter or tenant on your property fails to make the required rent payments or is intruding on the property, you can initiate the eviction process by serving them with a three-day vacate notice. If the three-day period elapses without any resolution, you can escalate the matter by filing an eviction lawsuit with your county's court. Typically, an eviction lawsuit takes approximately 2-3 weeks to reach a conclusion and may take longer if a notice of appeal is filed. You can read more about the process of evictions at In March 2024, Texas Gov. Greg Abbott tweeted that Texans have a right to defend themselves from squatters through the Texas castle doctrine. In Texas, the castle doctrine, a legal principle, grants residents the authority to employ force, even lethal force, in self-defense, the defense of their families, and the protection of their property against intruders or assailants. However, legal experts in Texas have said you can not just shoot a squatter. Geoffrey Corn, a professor at Texas Tech University's School of Law, explained in a Newsweek article that the Texas castle doctrine does not justify violence. 'Now, if I came home unaware someone had invaded my home, confronted that individual and demanded they leave, and was then attacked with deadly force, I would then be justified in defending myself with deadly force,' he said. 'But if I knew a squatter was in my home, and then attacked that individual with deadly force, my response would be excessive and the castle doctrine would not change that." This article originally appeared on Austin American-Statesman: What the proposed Texas anti-squatter bills mean for landlords
Yahoo
14-02-2025
- Business
- Yahoo
Yum Yum Sauce from Minneapolis restaurant is heading to grocery stores
A sauce that turned heads at NOLO's Kitchen & Bar in the North Loop is making its way to the epicenter of daily egg price debates. (That'd be grocery stores.) Chef Peter Hoff is bottling NOLO's Yum Yum Sauce, which will be released under the brand name Seven Bridges. The sauce kicked off as part of NOLO's breakfast fried rice bowl. When diners began asking for extra sauce or a little to go, the restaurant says it knew it was onto something. Hoff says the sauce is traditionally paired with hibachi dishes, but he also recommends trying it with burgers, tacos, rice bowls, Mexican cuisine, or as a marinade for seafood and other meats. 12-ounce bottles of Seven Bridges' Yum Yum Sauce are now rolling out to stores that include Kowalski's, Jerry's, Hy-Vee, Von Hansen's, and Brookie's Fish Market stores. Hoff, who named Seven Bridges after his hometown of Duluth, plans to expand the sauce line beyond the flagship in the future.
