Wellington Commercial Agreements Attorney

Well-prepared, enforceable commercial agreements are the lifeblood of any successful business. An experienced corporate and business law attorney who understands your business can help ensure your contracts, regardless of scale or complexity, accurately memorialize the agreements and obligations between the parties to meet your goals. At Gueronniere, P.A., our attorneys have the legal knowledge and skills to help create the commercial agreements you need to move your business forward.  

Commercial Agreements: An Overview 

A commercial agreement is a written contract between two businesses that establishes and regulates their relationship. Business owners must protect themselves in commercial transactions through valid, enforceable contracts. An attorney with a vast understanding of commercial contract law can help support your business by ensuring that your agreements are appropriately memorialized in a contract. 

Certain elements must be present to establish a commercial agreement: 

  • The agreement – A contract can only be formed if one party makes an offer and the other party accepts it. The agreement, sometimes called the “meeting of the minds,” is the basis of a valid contract.
  • Consideration – A contract requires consideration or “something of value” such that the parties to the contract understand they are negotiating an exchange of value. Consideration can be a transfer of money or tangible goods or a promise by one party to refrain from taking action they are legally able to do.
  • Contractual capacity – The parties to the contract must understand and have the mental ability to understand that a contract is being formed. Further, they must understand the terms of the agreement. This typically is not an issue in commercial contracts because of the sophisticated business entities involved.
  • It must be voluntary – The parties must voluntarily enter into the agreement. In other words, one party may not induce the other party to enter into the agreement through coercion, duress, undue influence, or fraud. 
  • Legal subject matter – A court will not enforce an agreement to commit an illegal act.

As a best practice, commercial agreements should be reduced to writing. Under the Uniform Commercial Code (UCC), a contract for the sale of goods over $500 must be in writing. However, the UCC does not apply to contracts for commercial services. The “Statute of Frauds” requires certain types of contracts to be in writing to be enforceable, such as contracts involving the sale of an interest in land.

A written contract also allows you to negotiate certain terms and conditions in the contract that you may not initially think of when you reach an agreement with the other party. For example, the following provisions are typically used in commercial agreements:

  • Confidentiality – A confidentiality clause prohibits the parties from disclosing information they may learn through the performance of the contract without express permission (if at all).  
  • Non-competition clauses – These provisions may limit products you can make or prohibit you from working with other parties while under contract or for a specific period after the contract terms are completed.
  • Termination – You may identify specific events that will cause the contract to terminate automatically.
  • Force majeure – This provision identifies the rights and obligations of the parties to the contract in the event of a natural disaster or act of God (typically a weather event) as defined in the agreement. 
  • Jurisdictional clause – This clause can set forth what law governs if the contracting parties are not both located in Florida. 
  • Dispute resolution – The parties may identify the process by which they must handle any disputes that arise during the contract term, including arbitration, mediation, or litigation.

Common Types of Commercial Agreements

Commercial agreements can address nearly any business transaction or relationship. Some of the most common types of commercial contracts include: 

  • Vendor and customer agreements – These contracts establish the rights and responsibilities of the buyers and sellers of commercial products or services.
  • Employment agreements – You may need employment agreements to set forth the relationship between the employee and employer, including identifying the employees’ rights and duties related to the scope of employment and compensation. 
  • Nondisclosure and confidentiality agreements – These commercial agreements protect proprietary information and processes. The terms of these agreements may vary, but the goal is to prohibit the disclosure of any confidential information by employees, vendors, and business partners. 
  • Partnership and shareholder agreements These contracts identify ownership interests in a commercial business and establish the rights and duties of the owners. 
  • Real estate agreements – These agreements relate to the sale or lease of commercial real estate.

The Importance of Contract Law 

A contract is the legal document you need to hold each party accountable for the terms they set and agreed to at the outset of the relationship. Especially with commercial agreements, contracts are a record of commitments for all parties involved. For you and your business colleagues, your commercial agreement is a tangible representation of your business relationship and your commitment to it.

A well-drafted contract is required for any successful business transaction. It provides the necessary clarity and certainty to the parties’ basic agreement, which minimizes the risk of misunderstandings, disputes, or potential breaches of contract. Your commercial contract lawyer will help ensure that your contracts are carefully drafted and address the key terms and conditions to protect your rights and interests.

How Our Commercial Agreements Lawyers Help 

Our attorneys have extensive experience working with various types of contracts. We pride ourselves on servicing the lifecycle of a contract, from the initial strategic counsel to actively negotiating the contract terms to carefully assessing specific provisions and clauses. Our contract lawyers play a critical role in the drafting process. With our vast understanding of commercial contract law, we bring a holistic approach to contractual matters by ensuring your contracts adhere to all legal requirements. We strive to be your partners in helping you achieve your business goals. 

Contact Gueronniere, P.A. Today  

Businesses need a law firm that understands them, swiftly responds to their inquiries, and meets their deadlines. At Gueronniere, P.A., you can expect quick and effective legal counsel for your contracting needs. Whether you need advice on formulating a contract or assistance expanding your business, we are here to help. Call today to get started.