Posts in category Business Law 101

BUSINESS LAW 101 Employee/Independent Contractor BY ALBERT L. KELLEY Now that we have touched on principal and agent, let’s look at employment. An employee is …

BUSINESS LAW 101 More on Agency BY ALBERT L. KELLEY When a person has made another his agent, the agency ends upon the death of …

Business Law 101 Creating An Agency Relationship BY ALBERT L. KELLEY The easiest way of creating an agency is by a written agreement. A simple …

What Is An Agent?   By Albert L. Kelley   When you have authorized someone to act on your behalf, you create an “agency” situation. …

What Can You Do If Contract Is Breached?   By Albert L. Kelley   We already have covered monetary damages, but there are other remedies …

Types Of Damages When There Has Been A Breach     By Albert L. Kelley   When a party breaches a contract, and the breach …

BUSINESS LAW 101 BREACH OF CONTRACT BY ALBERT L. KELLEY   Breach of contract is defined as failing to act as required in the contract. …

BUSINESS LAW 101 TERMINATION OF A CONTRACT, Part 2   BY ALBERT L. KELLEY   A contract may be terminated if the parties decide to …

Termination Of A Contract, Part 1   By Albert L. Kelley   How do you end a contract? It depends on why it is ending. …

Third Party Beneficiaries   By Albert L. Kelley   Third party beneficiaries are people who are not parties to a contract, but receive the benefit …

Contract Interpretation Part 2   By Albert L. Kelley   When the court is trying to interpret a contract, it begins by looking at the …

Contract Interpretation Part 1   By Albert L. Kelley   There are two decision makers in a court of law. The judge sits as the …

BUSINESS LAW 101 Contract Legality   BY ALBERT L. KELLEY   Occasionally a court will find portions of a contract illegal or invalid. If only …

Consideration   By Albert F. Kelley   Often in contracts you will see the word “consideration.” This does not mean you have to be nice …

Ability To Contract   By Albert Kelley   One of the most important issues to consider before entering into a contract is the ability of …

Acceptance By Albert Kelley   An acceptance agrees to all of the terms of an offer. It is not conditional — that would be a counteroffer. …

Offers   By Albert Kelley There are two parts to an agreement: an offer and acceptance. It starts with an offer. There must be an …

Types Of Contacts   By Albert Kelley   Contracts come in many different styles and are divided by many different names. Formal Contracts: These are …

Contract Basics   By Albert Kelley   Now we are going to start discussing contracts. What is a contract? A contract is a legally enforceable …

Ending A Non-Profit Corporation   By Albert L. Kelley   Last week we started talking about non-profit corporations. Today we discuss closing them. Non-profit Corporations …