Virtual General Counsel LLC
Helping Startups And Complex Business Clients Services Throughout Denver And The Surrounding Areas
Phone: 303-395-0259 Toll Free: 800-229-1646

Contracts Archives

What are some essential elements of a real estate contract?

Buying a house is an exciting event for many people in Denver, whether they plan to "flip" it or to live there for many years to come. However, one should not rush through the home buying process. One important part of the home buying process that requires careful thought and scrutiny is the drafting of the real estate purchase contract.

Contract formation is the backbone of many Denver businesses

Contracts often form the backbone of a successful business, and many people in Denver rely on contracts every day to keep their business viable. The exchange of money, goods and services sometimes requires some intense negotiations, but the end goal is to form a legally binding agreement.

"Consideration" is essential to a legally binding contract

Businesses enter into contracts every day. Some contracts involve goods, while others involve services. Contracts are not limited to the manufacturing industry, sales industry or any other industry for that matter. Any business in Denver will likely find itself one day needing to draft a contract. Therefore, it is important to have a basic understanding of how a contract is formed.

The basics of contract formation

People in Denver's business world enter into contracts every day. Some of these may be standard contracts, such as sale contracts or employment contracts. However, even a standard contract can involve a lot of negotiating before the parties come to an agreement. It is important, then, to have a basic understanding of how contracts are formed.

Is it wise to handle contract law matters alone?

These days, business agreements in Colorado are often cemented not just by a smile and a handshake, but in a written contract. This contract will (hopefully) address all the parties agree to. This will include who will do what, for whom and by when. A well-drafted contract will also address any contingencies that may arise. With so much at stake, it is important that a person is represented by an attorney during contract negotiations.

Are non-compete agreements legal in Colorado?

A non-compete agreement is a contract where an employee agrees that, if the employee leaves their job, they will not work in the same occupation for a different employer (usually a competitor) for a certain period of time. These agreements help employers protect their interests from competitors. However, are such agreements allowed under Colorado law?

Contracts: a look at breaches and remedies

Recently, a cooler company in Boulder partnered with a logistics firm in Louisville to facilitate and oversee their product manufacturing in China. However, the partner failed to provide the manufacturing services they promised. The cooler company then sued and allegedly received some $32,000 in compensation.

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