Author: Adrian Santiago

Wills, trusts, and all other essential documents for estate planning

What Are the Benefits of Establishing a Power of Attorney in Estate Planning?   

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If you’re meeting with a South Carolina estate planning attorney, power of attorney will be at the forefront of the conversation. Though power of attorney is sometimes referenced in legal dramas on TV, it is rarely explained. This is your in-depth guide to the importance of power of attorney in estate planning.

The Purpose and Benefits of Power of Attorney

Consider a scenario in which your mother or father becomes incapacitated. Your parent is incapable of speaking and moving beyond slight hand gestures. A healthcare power of attorney is invaluable in such a situation. This legal tool empowers you to make health-related decisions on behalf of your incapacitated parent.

Power of attorney is also applicable to asset management. Such a financial power of attorney empowers a trusted family member or other individual to make financial decisions on behalf of yourself in the event that you become incapable of doing so. Illness, injury, or another unforeseen event, such as dementia, has the potential to prevent you from thinking and acting clearly. 

A South Carolina estate planning attorney will establish power of attorney on your behalf so you can live the rest of your life in full confidence, knowing a trusted family member or friend will make sound decisions on your behalf.

The Role of the Agent

The signature on a durable power of attorney authorizes an individual other than yourself to serve as agent. Also referred to as attorneys-in-fact, such agents act on one’s behalf to complete specific acts. Such an agent manages your affairs in the event of incompetence, ultimately preventing the need for a potentially expensive and complicated trust or guardianship. 

In short, assigning an agent to handle your affairs through a power of attorney makes it easier for trusted people to make life easier and more comfortable in your final years. In some instances, spouses provide one another with power of attorney. Others choose their children, grandchildren, or trusted neighbors to act as agents. 

When selecting a power of attorney agent, do not automatically choose your oldest son or daughter. Rather, it is better to select an individual with the intellect, time, and maturity necessary to handle your affairs exactly as you desire.

The Limits to Power of Attorney

A person with power of attorney over another’s bank account does not have full financial control over that person’s money. Rather, such a power of attorney provides authorization to write checks and pay bills yet not sell real property such as a house. However, if you trust your power of attorney agent to handle your real property on your behalf, our estate planning attorney can assign him or her the power to sell real estate.

Learn More During a Consultation With Our South Carolina Estate Planning Attorneys

If you don’t have an estate plan or haven’t updated yours in years, be proactive. Our legal team will do all the work on your behalf. Contact our South Carolina estate planning attorneys today to schedule an estate planning consultation.

Commercial vehicle accident on the road

What to Do After an Accident With a Commercial Vehicle

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An accident with a truck or other commercial vehicle has the potential to change your life forever. If you are in such a predicament, it is important that you take specific actions immediately after the collision. Above all, consult with a South Carolina personal injury attorney for guidance in maneuvering through the legal maze. 

Be Civil and Safe

Though there is the potential for tempers to flare during the drama of a commercial vehicle crash, it is best to remain cool, calm, and collected. Your demeanor in the aftermath of a crash with a truck driver shapes his or her willingness to cooperate, share information, and remain civil. Pull over to the side of the road, flag down the driver, and speak politely.

Exchange Information With the Other Driver

The first thing to do in the aftermath of the truck accident is to obtain information. Use your smartphone or pen and paper to write down the following information:

  • Opposing driver’s name
  • Employer name
  • Truck number
  • Auto insurance information

Provide your name and the name of your auto insurer. Refrain from offering additional information. 

Record the entirety of the conversation with your smartphone in the event that the driver of the commercial vehicle admits fault. Such evidence can be used to prove negligence in a court of law.

Seek Medical Attention

Now that you’ve collected the bare minimum of information, reach out to an emergency medical services provider for assistance. Start collecting evidence while waiting for the ambulance to arrive. The ambulance driver will take you to the closest hospital for medical evaluation. The treating doctor’s hospital report will detail the accident’s causal relationship to your pain. 

Even if you don’t feel immediate pain or don’t have a visible injury, it is still in your interest to visit with a doctor for a formal medical report. There is the potential for whiplash and other injuries to manifest in the days ahead yet you might not feel those pains right away.

Preserve Evidence

Commercial vehicle accidents are inherently complex. Even a small piece of evidence has the potential to tip the scales of justice in your favor. Take pictures and video of the crash site including the intersection with your smartphone. If you don’t have your smartphone on your person or if your phone was damaged during the accident, draw a picture of the accident scene for future reference. 

Contact the police for a formal accident report. The responding police officer’s accident report will attempt to piece together the accident to assign blame. 

Take a close look at your surroundings for video surveillance cameras. If anyone witnessed the accident, retrieve their name and contact information for future reference. Ideally, you’ll record their witness statements from the accident site using your smartphone’s video recording feature.

Learn More During a Consultation With Our South Carolina Personal Injury Attorneys

A personal injury has the potential to significantly change your life. This is a time to ask for help. Our South Carolina personal injury attorneys are here to provide guidance. Contact us for a consult today.

Construction helmet sitting on site

Common Causes of Struck-By Incidents on Construction Sites

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Workers are often injured in a variety of ways on construction sites, despite the best efforts of OSHA (the Occupational Safety and Health Administration) to push for sites to be completely safe for workers. Serious injuries and even death may result. Some of those deaths can be attributed to tools or materials falling and striking construction workers. If you’ve been injured on a construction site, let South Carolina construction site accident attorneys help you understand your legal options.

Understanding Struck-By Incidents

OSHA categorizes “accidents” as situations where something entirely unforeseen caused injury or death. However, they feel most injuries are the result of poor training or safety rules violations, and so should be categorized as “incidents” instead of “accidents.”

A variety of objects may be found rolling, swinging, falling, or flying on a construction site. Cranes often must lift heavy materials high into the air. Materials may roll off of scaffolding. Tools or building materials can fall from a very pitched roof. Even when safety precautions are taken, many factors can cause struck-by accidents. Winds, rain, mud, darkness – all can contribute to the problem. 

Workers are often struck, resulting in many types of injuries. For example:

  • A closed head injury or scalp laceration
  • Spinal cord or neck injury
  • Eye injury
  • Broken bones
  • Burns

In rare cases, struck-by accidents can cause death. According to OSHA, there were 5,486 worker fatalities in 2022.

Inadequate Training and Safety Standards: A Major Contributor to Struck-By Incidents

Inadequate worker safety training commonly causes issues with falling or flying objects but that’s not the only cause. Failure to wear protective headgear like hard hats can also cause struck-by injuries. Human factors can cause or contribute, and they can be especially tricky to pinpoint. For instance, worker fatigue may be the root cause due to many factors, for instance:

  • Inadequate sleep
  • Working too fast due to deadline pressures
  • Fatigue due to illness
  • Operator error due to substance abuse

Whatever the cause, construction sites are inarguably hazardous, and when property owners, contractors, or subcontractors don’t follow safety standards, everyone on the site is at risk.

The Role of Heavy Equipment and Machinery in Struck-By Accidents

Cranes and other heavy equipment are commonly found at construction sites. Cranes that lift heavy materials often cause struck-by injuries. As materials rise into the air, they often tilt or spin around, making it hard to control where they come down. Unbalanced loads are difficult to control. Workers often don’t see the hazard before they are struck.

Other times, the cranes have been improperly assembled, or they fail to safely signal someone on the ground before lifting a material.  

Whatever the cause, whether operator error or safety violations, struck-by incidents are preventable.

Protecting Your Rights: Seeking Assistance From a SC Construction Site Accident Attorney

If you’ve been hurt by a falling or flying object on a construction site, you have rights. Drawing in medical bills? Unable to work due to your injuries? An experienced South Carolina construction attorney can assess the value of your case and help you to get the compensation you deserve. Contact us today for a no-cost consultation.

 

Man walking over a small puddle while at work

What Are the Legal Steps After a Slip and Fall Accident?

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A slip-and-fall accident can cause severe injuries and damages. Property owners can be liable for damages if someone is injured on their property. However, you must prove a legal claim before you can recover compensation for damages. Our South Carolina slip and fall attorneys discuss the steps you should take after a slip and fall accident to protect your rights.

Understanding Slip and Fall Accidents

Common locations for slip and fall accidents include, but are not limited to:

  • Restaurants and bars
  • Shopping centers and grocery stores
  • Parking lots and garages
  • Entertainment and sports venues
  • Playgrounds and parks
  • Swimming pools
  • Workplaces
  • Hotels and resorts
  • Nursing homes
  • Apartment buildings
  • Government offices
  • Schools and daycares

A trip-and-fall accident occurs when you trip over something, causing your body to pitch forward. A slip-and-fall accident occurs when your foot loses traction with the floor, causing you to fall backward. Common causes of slip and fall accidents include:

  • Broken steps and staircases
  • Slippery or wet floors
  • Loose or damaged carpeting, floorboards, and other flooring surfaces
  • Missing handrails
  • Debris or items on the floor
  • Broken or damaged sidewalks and walkways
  • Wires and extension cords
  • Inadequate lighting
  • Potholes, cracks, and holes in surfaces
  • Uneven surfaces, including elevators and escalators
  • Lack of warning signs

If you are injured in a slip-and-fall accident, the steps you take after the accident could significantly impact the outcome of your personal injury claim.

Initial Steps to Take After a Slip and Fall Accident

If you are injured in a slip, trip, and fall accident, the steps you should take include:

  • Document the accident scene and gather evidence by taking photographs and videos, especially of the hazard that caused your fall.
  • Ask eyewitnesses for their contact information and names.
  • Seek immediate medical treatment for your injuries. Delays in medical care could make proving the fall caused your injuries more difficult.
  • Report the accident to the property owner. If a written report is generated, ask for a copy.
  • Follow your doctor’s treatment plan and keep detailed records of all expenses related to the fall and your recovery.
  • Document your damages by keeping medical records and copies of all documents related to expenses and financial losses.

Seek legal advice from an experienced slip-and-fall accident lawyer as soon as possible. In a slip-and-fall case, proving the property owner’s negligence can be difficult.

The Role of Negligence in Slip and Fall Cases

Slip and fall claims are considered premises liability in South Carolina. As the injured victim, you must prove that a property owner or other responsible party was negligent. The elements of negligence for a slip and fall claim are:

  • A dangerous condition existed on the premises.
  • The property owner knew or should have known about the hazard.
  • The owner did not take reasonable actions to correct the problem or warn people of the hazard.
  • You were injured as a result of the dangerous condition and incurred damages because of the fall.

Once you prove negligence, you can seek compensation for your financial losses (economic damages) and your pain and suffering (non-economic damages).

Many slip-and-fall accidents are settled with insurance providers through settlement negotiations. However, you may need to file a lawsuit against the property owner.

Get Help Filing a Claim for a Slip and Fall Accident From a South Carolina Personal Injury Lawyer

Slip and fall cases may involve non-owners who may have had control of the property. Sorting out liability is one reason you need an experienced lawyer to handle your case. Call Willcox, Buyck & Williams, P.A. to schedule a consultation with a South Carolina slip and fall attorney to discuss your case.

business partners looking at a contract

How Does the Choice of Business Structure Impact Liability?

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When you begin a business, you must choose the business structure for your company. Your business structure affects how the business and the owners are legally and financially liable for company debts and obligations. Therefore, it is crucial for every business owner to work with a South Carolina business attorney to be aware that the decisions they make regarding the business structure affect potential personal liability.

Overview of Business Structures and Their Liability Aspects

The level of personal liability for business owners differs depending on the business structure they choose for their company. The most common types of business structures in South Carolina include:

Sole Proprietorship

A sole proprietorship is the most straightforward business structure to form. Because it is not a legal entity, the owner is personally responsible for all business debts and liabilities. If someone sues the business, they are suing the owner. A sole proprietor pays personal income taxes on the business income on their personal tax return.  

Partnership

There are two types of partnerships – a general partnership and a limited partnership.

A general partnership is a business entity of two or more individuals who agree to operate a business. The partners are personally liable for all business debts and obligations. Unless the partnership agreement states otherwise, all partners can make decisions for the business that are binding on all partners.

A limited partnership has at least one general partner and one or more limited partners. Limited partners do not participate in the management of the company. Therefore, a limited partner’s personal liability is restricted to the amount they invested in the company.

Partnerships are pass-through entities for tax purposes. The partnership does not pay taxes on income. The partners pay personal taxes on the income they receive from the partnership.

Corporation

Corporations are legal entities. Individuals own shares of the corporation. They are not responsible for the debts and liabilities of the corporation. Corporations provide the highest level of protection from personal liability.

A C-Corporation files tax returns and pays taxes on the income the company earns. Shareholders pay personal income taxes on the amount they receive in dividends. However, if the shareholders elect to be classed as an S-Corporation, income passes through the company like a partnership and is taxed on the shareholder’s personal income tax return.

Limited Liability Company (LLC)

An LLC is a legal entity created under state law. It offers members (i.e., the owners) limited liability from personal responsibility for company debts and obligations. It does not provide the same level of protection from personal liability as a corporation.

Unless the LLC elects to be taxed as a corporation, income passes through the company to the owners. The owners report the income on their personal tax returns.

Consult With a South Carolina Business Lawyer About the Elements to Consider When Choosing a Business Structure

Personal liability and tax liability are two critical elements to consider when choosing a business structure for your company. However, understanding all of the legal and financial implications of each business structure is also essential.

Before setting up your business, it is wise to meet with an experienced South Carolina business lawyer. A business attorney will review the various business structures, explain the implications for personal liability, and discuss how the business structure impacts the company’s operations. Call Willcox, Buyck & Williams, P.A. to schedule a consultation to explore business structures with an attorney. 

Man crying after a car accident

What To Do Immediately After a Car Accident

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Suffering injuries during an automobile accident is a traumatic experience. Accident victims often do not know which steps to take immediately after an accident. Sometimes people may not be able to think clearly during the first moments after an automobile accident. However, if victims focus on remaining calm and doing everything in their power to remain safe, then it is likely that accident victims can take productive action after an automobile accident. 

Our South Carolina car accident attorneys explore what to do after a car accident.

Check Yourself and All Passengers For Injuries

A collision may occur unexpectedly, and it can take a few minutes to determine if you suffered any injuries. Concussions may not produce symptoms immediately after an accident. However, you should focus on checking your body for lacerations and determining if any passengers in your vehicle are injured. 

It may be difficult for you to move during the immediate aftermath of an automobile accident. If you believe it is impossible for you to move without injuring yourself, then you should remain calm and wait for emergency personnel to arrive. The presence of elevated levels of adrenaline and cortisol in the body can make it difficult for accident victims to recognize their injuries in the first moments after an accident. 

Seek Medical Treatment As Soon As Possible

You must seek medical treatment after you are involved in an automobile accident. Sometimes, drivers and passengers may believe they have not suffered any injuries, but some injuries do not produce immediately discernible symptoms. Sometimes physical pain and other issues may have a delayed onset. 

Insurance companies will also want to see that you have sought medical treatment for your injuries. Waiting for a long period of time to go to the hospital or doctor may harm any future civil lawsuit associated with the accident. Therefore, you should seek medical care even if you think you suffered only minor injuries. 

Collect Any Evidence Related To The Automobile Accident

Video recordings and photographs can help you support your legal claims if you initiate a civil lawsuit. Environmental conditions at the accident scene may be helpful to your potential case. It is important for you to try and collect any relevant evidence regarding the accident in which you suffered injuries. You can photograph the other driver’s vehicle and any property damage which may indicate which party caused the accident. 

It is also important to keep a journal of your injuries and their progression. You can write down your physical symptoms and how you are feeling on a daily basis. An injury journal can help you substantiate your claim for non-economic damages in your automobile accident case. 

Contact a South Carolina Personal Injury Attorney

You need to seek out a personal injury attorney in South Carolina if you want to seek monetary compensation for your injuries. A skilled personal injury lawyer will be able to help you determine if you have any viable legal claims. Also, if you retain an attorney, you will be able to benefit from the attorney-client privilege. Insurance companies will be able to negotiate with your attorney while you focus on recovering from your injuries. Contact us today to learn more.

From law offices in Florence and Myrtle Beach, South Carolina, Willcox, Buyck & Williams, P.A. serves Myrtle Beach, Surfside Beach, Garden City, the Grand Strand, and other communities throughout Florence County, Marion County, Horry County, Darlington County, and Georgetown County.

Contract attorney analyzing the paper

What Are the Key Elements of a Strong Business Contract?

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An effective business contract can help you protect your business and achieve your economic goals. Consulting with a knowledgeable South Carolina contracts attorney can help you understand the risks you expose yourself in the course of building a business. Numerous elements can improve business contracts and make them more reliable for both parties. 

Identifying All Contracting Parties

A contract should identify the parties to a contract and their legal relationships with one another. Business contracts should include explicit and detailed language regarding the liabilities of the parties and their corresponding legal duties. No parties should be excluded from the business contract. 

The Business Contract Should Be In Writing

Specific types of contracts must be in writing to satisfy the statute of frauds. However, all business contracts need to be explicitly set forth in writing. Some contracts which must be in writing to be legally valid include contracts for the sale of goods of $500 or more, contracts for an interest in land, and contracts that cannot be performed within one year. Speaking with a knowledgeable business lawyer is the best way to obtain a clear, effective contract that will protect your economic interests and your legal rights. 

The Purpose of the Contract is Explicit 

The purpose of the contract should be explicit. All parties to the contract need to understand their duties and what they need to do to fulfill their contract obligations. Ambiguities regarding the purpose of the contract can cause problems at a later stage when a party does not want to perform according to the contract terms. The specific terms of the contract need to be expressed in clear language, and having their terms set forth explicitly can help you avoid contract disputes at a later point in time. 

Non-Disclosure and Terms of Confidentiality 

Non-disclosure and confidentiality are important terms in some business contracts. If a company does not want to expose trade secrets to competitors, then it may be necessary to have contracting parties sign a non-disclosure agreement. A skilled business attorney can help you draft clauses and separate agreements that can protect you and your business organization from liability and other forms of risk. Non-disclosure agreements are common in contracts concerning patents, copyrights, and other forms of intellectual property. It may be necessary to include specific terms with the non-disclosure agreement to help the other parties understand why a non-disclosure agreement is necessary. 

Identifying Remedies Within the Four Corners of the Contract

An effective business contract should include a section devoted to remedies. Legal remedies are the tools used to make one of the parties whole if a party breaches the contract or does not perform according to the terms specified in the contract itself. 

A party may want to include a liquidated damages clause that specifies the exact amount of damages that will be owed if one of the parties breaches the contract. It is vital that you speak with a skilled business attorney so you can understand the different remedies that may be included in a contract. Contact us today to learn more.

From law offices in Florence and Myrtle Beach, South Carolina, Willcox, Buyck & Williams, P.A. serves Myrtle Beach, Surfside Beach, Garden City, the Grand Strand, and other communities throughout Florence County, Marion County, Horry County, Darlington County, and Georgetown County.

Picture of the outside of a federal bank

Compliance & Risk Management in Banking: Legal Considerations

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Banking is highly regulated for a reason. Financial institutions hold and manage other people’s money. There must be regulations in place to protect customers and investors. However, compliance can leave you in a maze of regulations and rules where one mistake could result in significant legal and financial problems. Our South Carolina business attorneys discuss compliance and risk management in banking, including strategies for reducing the risk of non-compliance. 

What Is Compliance Risk Management in Banking?

Compliance risks are a concern for any organization, especially for highly regulated businesses like banking. Banks must comply with a host of regulations set by the OCC (Office of the Comptroller of the Currency), the FDIC (Federal Deposit Insurance Corp.), and other regulatory agencies. 

Compliance risk management is the process of identifying and assessing risks related to compliance with industry standards and regulations. It includes the policies and procedures in place to monitor risks and compliance to ensure that a financial institution remains compliant. There should also be a procedure to assess the liability and losses a bank might face for non-compliance. 

The steps involved in compliance risk management for banks include:

Assessing Current Framework

Analyze the systems and processes you use to ensure compliance with regulations and standards. A robust framework for compliance risk management is essential. It should provide a structure to adequately control and monitor compliance risks. Assessing the strength of your current framework identifies areas that need to be improved to reduce risks.

Perform a Risk Assessment

Determine the types of compliance risk to the bank. Formulating a risk matrix is one of the best ways to understand the types of risks the bank faces and the likelihood and impact of each risk. An area that many banks overlook is cyber security compliance. Policies must be in place for effective measures that deal with cyber threats and risks. 

Pinpoint Gaps in Compliance

Identify areas where gaps exist in compliance. Immediately place practices and procedures to fill these gaps to ensure compliance with industry requirements and regulations or modify existing policies to address the compliance gaps. 

Foster a Culture of Compliance

Hold security training programs to ensure employees are aware of the policies and procedures for compliance. Ensure employees are comfortable taking an active role in compliance risk management, including reporting potential compliance risks. As part of the compliance management framework, implement clear responsibilities within the bank and install procedures for accountability.

Remain Current on Changes to Banking Regulations

Changes in regulations and compliance can create legal issues if you are not aware of the changes. Work with legal counsel to ensure you have a procedure in place to receive information about changes and implement new standards and policies to ensure compliance with the changes. 

Learn More About Compliance and Risk Management From Our South Carolina Business Attorneys

All businesses face issues with compliance and risk management. At Willcox, Buyck & Williams, P.A., our lawyers assist companies and business owners in implementing strategies and policies to ensure compliance and lower risks. We also help you navigate legal issues related to these matters. Call today to schedule a consultation with one of our South Carolina business attorneys.

Bicycle on the floor after an accident with a car

Steps to Take if You’ve Been Injured in a Bicycle Accident

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In South Carolina, the scenic roads and vibrant cycling community make biking a popular pastime and mode of transportation. However, cyclists find themselves particularly vulnerable when navigating traffic alongside larger, faster vehicles. Recognizing this, bicycle advocacy groups in the state have been instrumental in pushing for enhanced safety measures and laws that protect cyclists, ensuring they can share the roads safely with motor vehicles.

Despite these efforts, accidents happen. Being hit by a car while cycling can be a frightening and potentially life-changing event. Knowing the correct steps to take immediately after such an incident can significantly affect the outcome of any legal or insurance proceedings that follow.

Our South Carolina bike accident attorneys put together this guide on what to do if you’re involved in a bicycle accident with a car:

13 Things To Do If You’re in a Bike Accident in South Carolina

  1. Remain Calm and Assess Your Situation: Keeping calm allows you to think clearly and make better decisions following an accident.
  2. Move to Safety: Prioritize your immediate safety by moving out of the roadway to prevent further accidents.
  3. Call 911: It’s essential to report the accident to law enforcement and secure a police report, which plays a critical role in any legal and insurance claims.
  4. Exchange Information with the Driver: Collect contact and insurance information from the driver without discussing the accident details or admitting fault.
  5. Gather Witness Information: Witnesses can offer unbiased accounts of the incident, so collect their contact information for future reference.
  6. Document the Accident: Take detailed notes and photos of the accident scene, your injuries, and any damages to your bicycle and the vehicle involved.
  7. Seek Medical Attention: Even if you don’t feel injured, getting a medical evaluation is crucial since some injuries may not be immediately apparent.
  8. Do Not Repair Your Bicycle: Keep your bicycle in its damaged state until it has been documented and assessed by an attorney, as it serves as important evidence.
  9. Avoid Social Media: Refrain from posting details about the accident or your injuries online, as these posts can be used against you in insurance or legal matters.
  10. Consult a Personal Injury Attorney: An attorney can provide valuable advice on your rights and the best course of action for your situation.
  11. Report the Accident to Your Insurance: Inform your insurance company about the accident but consult with your attorney before providing detailed information.
  12. Follow-up with Medical Care: Continue to seek medical care for any injuries, following up as needed to address any delayed symptoms.
  13. Maintain Detailed Records: Document all medical treatments, communications with insurance companies, and any other expenses related to the accident.

Talk to Our South Carolina Personal Injury Attorneys

Navigating the aftermath of a bicycle accident can be overwhelming. By following these steps, you can protect your health, safety, and legal rights, ensuring that you’re well-prepared to handle the challenges that come with seeking compensation and recovery. Always consider consulting with a personal injury attorney who can guide you through the legal complexities specific to South Carolina, helping to secure the support and compensation you deserve.Contact our office today to speak with an attorney about your accident.

Lawyers looking over a business contract draft

Drafting Enforceable Contracts: Tips to Avoid Breach

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In the business world, contracts are necessary to protect yourself and your business. In addition to being the backbone for nearly every transaction, contracts ensure the parties fulfill their obligations. Parties to a contract can suffer financial harm from contract breaches when the contract hasn’t been drafted properly and isn’t legally enforceable. Here are our top five contract drafting tips to help business owners avoid contract breaches in South Carolina.

1. Clearly Define the Parties and Terms of the Contract

Ambiguity is one of the most common causes of contract breach. Although the parties to a contract may assume that they agree on the terms’ meaning, disputes can arise when the terms are overly ambiguous. The contract should clearly identify all parties to the contract, including any subsidiaries or affiliates, to avoid confusion and potential breach of contract claims. 

It’s also essential to clearly outline the scope of the contract. The contract should clearly state the rights and obligations of each party, including any exclusions or limitations. The terms should be specific about the duties and responsibilities of each party and not leave any room for misinterpretation.

2. Include Precise Payment Terms

Many breach-of-contract claims involve misunderstandings about payment terms. When drafting a contract, it’s important to include detailed terms related to payment. The contract should specify the amount, acceptable payment methods, and due date for each payment. To ensure accountability, it should also specify any interest charges or penalties that will be incurred for late payment.

3. Address Remedies for Breach of Contract

Breach of contract can happen even when the contract has been well drafted and is legally enforceable. The contract should address the remedies available for a party whom a breach of contract has injured. Addressing the available legal remedies upfront can prevent you from undergoing a lengthy court battle. 

Consider including provisions that outline the penalties for a breach of contract. Examples of penalties for breach of contract include termination rights and liquidated damages. The contract should also include any available dispute resolution methods the parties must use.

4. Conduct Thorough Due Diligence

Before entering into a contract, both parties should conduct thorough due diligence. Learning about the other party’s financial stability, reputation, and previous business practices may help you avoid a breach of contract. 

An in-depth understanding of the other party’s licensing requirements and compliance with industry regulations can help you make informed decisions and minimize risk. You may decide not to enter into a contractual agreement with the other party. If you do, you will benefit from working with an attorney to include provisions that protect yourself.

5. Hire an Experienced Attorney to Draft and Negotiate Contracts

Drafting legally enforceable contracts requires an in-depth understanding of contract law. Many individuals and businesses have begun using online contract services to save money. Unfortunately, these services don’t provide the same legal evaluation and experience as working with an attorney.

For over 125 years, the attorneys at Willcox, Buyck & Williams, P.A. have helped South Carolina businesses draft and negotiate effective, legally enforceable contracts. When you work with our attorneys, we will ensure your contracts comply with all applicable South Carolina and federal laws and regulations.

Contact an Experienced Contract Attorney in South Carolina

At Willcox, Buyck & Williams, P.A., our attorneys help South Carolina businesses navigate the complexities of contract law. We will answer your questions and work with you to draft an effective contract agreement that protects you and your rights. Don’t hesitate to contact Willcox, Buyck & Williams, P.A. to schedule a complimentary case evaluation.