It's always a good idea to get a business agreement down on paper, but sometimes, for one reason or another, it doesn't happen. Most businesspeople in Colorado are familiar with the so-called handshake deal, and other types of contracts that are not necessarily in writing. Many of these agreements meet the basic requirements of a contract (offer, acceptance, consideration, competency, intent) and so will be legally enforceable. However, a law known as the Statute of Frauds requires that certain types of contracts must be in writing, or else they are not legally enforceable.
Since the beginning of e-commerce as a force in the marketplace, business leaders and lawmakers have argued over how to handle the issue of sales taxes. If a website for a Denver company sells a widget to a customer in another part of Colorado, should the customer pay the sales tax rate for Denver, or for the customer's location?
While the move away from burning fossil fuels remains a contentious issue in the federal government, Colorado is moving ahead with a cleaner-energy future. Earlier this year, Gov. Jared Polis signed an executive order intended to promote the use of electric vehicles.
When deciding on a contract dispute, a court first determines whether the parties had a valid contract. The court must find that one party made an offer, the other accepted it, and they must have exchanged something of value in exchange for a promise.
When it comes to doing business, most businesses couldn't perform without the use of, or partnership with, other businesses. In theory, being is business is just as much about your customers as it is about the vendors you are engaged in business with. This is why it's so important to set up business relationships for success from the beginning. One way in which to do that is to set up a contract between businesses.
If you are a small business owner, you are probably surrounded by more contracts than you realize. Between clients, customers, vendors, contractors, loans and purchase agreements, you have likely signed on the dotted line more than a few times. Unfortunately, you have also likely had to deal with other party not holding up their end of the bargain. So when does it reach a point where you can actually do something about it?
Businesses in Colorado negotiate contracts every day. It is hoped that through these negotiations the parties can reach an agreement that they are both satisfied with. However, negotiating the details of a contract can be a complex endeavor, as both parties want to secure some sort of benefit from the agreement and neither party wants to see their rights or interests violated.
Contracts between subcontractors and suppliers in Denver are often entered into with general contractors, who then contract with the property owner to complete a construction project. All these parties have a stake in the work being done per the terms of the contract. Therefore, if a subcontractor or supplier is not paid per the terms of the contract, they may pursue a mechanic's lien.
When a person in Colorado starts a new job, it can be an exciting time. However, after being hired or during the course of employment, a worker may be faced with signing a non-compete agreement, stating that the worker will not work for a competing business if they leave the employment of their current employer. This can be very limiting on a worker, and for this reason, Colorado law has addressed the issue of non-compete agreements.
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.