Is a Verbal Agreement Legally Binding in Texas?
“We shook on it.” A simple handshake or verbal promise might seem like a legitimate contract—but is it? Many Texans enter into verbal agreements every day, from promising to pay back a loan to agreeing to perform services. But what happens when one party fails to uphold their end of the deal?...
Vendor Disputes: Should I Mitigate or Dissolve the Relationship?
Vendor relationships are essential for business success, ensuring smooth operations, timely deliveries, and consistent service. However, when disputes arise over pricing, quality, contract terms, or delays, business owners must decide whether to repair the relationship or part ways.
At Sul Lee Law Firm, we help Texas businesses navigate...
Common Disputes During Construction Projects
Construction projects are complex, involving multiple parties, tight deadlines, and significant financial investments. Disputes can arise at any stage, from contract disagreements to delays and defective work, leading to costly litigation and project setbacks.
At Sul Lee Law Firm, we help Texas contractors, developers, property owners, and suppliers...
How Much Can You Sue for Breach of Contract?
You can sue for the financial losses caused by the breach, including direct, consequential, and any contract-approved liquidated damages, as well as attorney’s fees in qualifying cases. The total recovery depends on the actual harm suffered, whether the breach involved bad faith or fraud, and whether...
Common Pitfalls and Considerations In Stock Purchase Agreements
Stock purchase agreements govern the transfer of ownership, control, and responsibility of a company, so it’s crucial that they be meticulously drafted to avoid legal disputes and financial losses. In this article, our Texas corporate attorneys walk you through some common pitfalls and key considerations to keep in mind while negotiating...
Can’t Compete with the Noncompete Rule: FTC’s New Rule, Banning Noncompete Clauses
If you ever come across an employment contract, you may typically find a provision that limits an employee “from working for a competing employer” or “starting a competing business” and restrains such competing acts within a “geographic area and period of time” following...
Mistakes to Avoid When Drafting Your Operating Agreement
When setting up a limited liability company (LLC), one of the most important steps is to draft your operating agreement, a foundational document that dictates how decisions are made, how ownership is structured, and so much more. It is, essentially, a contract that binds the owners to a set of rules.
Buy and Sell a Business: Purchase and Sales Agreement
When deciding to buy or sell a business, drafting a purchase and sale agreement (PSA Agreement) is essential. Here are some key points to include:
Purchase Price/Object: Will it be purchasing company assets or acquiring shares? Earnest Money...