Drafting and reviewing contracts is one of the most important aspects of running a successful South Carolina business. Any business, investment, or new employee hire should come with a binding contract that lays out the terms of the agreement; a written contract protects business owners if the other party breaches the agreement. When a business partner breaches a contract, the economic impact can cause significant harm. When both parties to an agreement have signed a contract, a business owner can bring a lawsuit for breach of contract to recover damages. A well-written contract can save a business owner time and money.
Drafting and Reviewing Contracts in South Carolina
At Willcox, Buyck & Williams, PA, our attorneys regularly draft and review contracts for clients throughout South Carolina. We are prepared to handle all your business’ contract law needs. If you are a business owner and you are unsure how to write a contract for the sale of goods or services, an employment contract, or any other contract, we can help. Contact our Myrtle Beach, South Carolina business law firm today to learn how we can help your company by drafting and reviewing contracts.
Standard Contracts Used By South Carolina Businesses
Our attorneys have years of experience successfully drafting, reviewing, and negotiating contracts, including:
- Sales agreements
- Employment agreements
- Non-compete agreements
- Commercial property agreements
- Franchise agreements
- Non-disclosure agreements
- Service agreements
- Confidentiality agreements
- Lease agreements
Should the need arise, we are also ready to litigate contract disputes at trial. Our Myrtle Beach business lawyers understand the necessary elements of every type of contract. We include essential information that will help you avoid a contract dispute. Our attorneys tailor each contract to our clients’ unique business needs and goals. We frequently draft and review all of the following types of contracts:
Why Are Contracts So Important?
Contracts are the backbone of the business world. Business owners feel free to engage in business with other companies knowing that their agreements are legally binding and enforceable in a court of law. A contract is essentially an agreement made between two people or businesses. Our attorneys tailor contracts to meet the needs of each client. Some contracts are simple, while others need to be extremely complicated.
A contract occurs when two or more people exchange products, goods, or services with each other in a bargained-for exchange. Without a written contract, parties to the contract can easily dispute the terms of the agreement. When the terms of the agreement are in writing, the terms of the agreement are more difficult to challenge. Should one party breach the terms of the agreement, the other party has a legal right to bring a breach of contract lawsuit to enforce the agreement in court.
The Elements of a Valid South Carolina Contract
Every South Carolina contract must contain key elements to be valid in a court of law. The first element is called consideration. Both parties must have “sufficient consideration.” The element of consideration requires that both parties must give and receive a promise, money, or goods in a bargained-for exchange.
Next, the contract must demonstrate a clear offer and acceptance. For example, a written contract cannot simply state an offer to buy someone’s car for $6,000. The contract must include the offer to buy the vehicle and the acceptance of the terms by the buyer.
For the contract to be valid, all of the parties to the contract must be adults of sound mind. If one of the parties signed the contract while under the influence of alcohol or drugs, a court may later invalidate the contract. Parties must willingly enter into contracts. When one party signs the contract under duress, a court may deem the contract invalid. Duress could involve emotional or financial coercion.
The Importance of Contract Review
At Willcox, Buyck & Williams, PA, our attorneys know how to draft contracts in a way that protects our clients’ best interests. In addition to contract drafting, we also review existing contracts to help clients identify any potential red flags. Our attorneys will look over the contract, answer any questions our clients have about the agreement, and note any areas of the contract that might pose issues for our clients. When we review contracts, we examine the following issues:
- Will our client own the rights to the product?
- Will our client’s intellectual property rights suffer under the terms of this contract?
- Is there a non-compete agreement? If so, how will it negatively affect our client?
- Will our client be able to work with other customers if they sign the contract?
- Is there a non-solicitation clause that could negatively affect our client?
Should our attorneys spot potential issues that might harm our clients’ businesses, we offer contract editing services. Our contract lawyers will review the contract, take notes about problematic provisions, and edit the contract in a way that corrects the problem areas. In some circumstances, clients need us to negotiate contract changes with the other party involved.
Hiring a skilled contract attorney to negotiate changes to the contract can help business owners tremendously. Emotions can become heated in some contract negotiations, and allowing a third party to take over can be helpful. Our contract lawyers bring years of experience to the contract review and negotiation process.
Our South Carolina Contract Lawyers Can Help
It is easy for busy business owners to overlook the importance of a well-drafted contract. However, one of the best ways to protect the assets of your business is to take proactive action to protect your business by using well-written contracts. Written contracts help both parties understand their legal obligations and duties. Additionally, a well-drafted contract will contain possible consequences should one or both parties breach the contract agreement.
Even when a contract may seem unnecessary, using one could prevent unnecessary disputes or litigation. If you are interested in learning how the lawyers at Willcox, Buyck & Williams, PA can help you with contract drafting and review, contact our office today to schedule your initial consultation.