What is a Contract? Legal Binding Contract Terms and Definition

What is a contract? It is an agreement between two or more persons or entities which creates a legal obligation to do, or not do, a particular thing. In addition to having legally binding contract terms, a legally enforceable contract must have (i) a subject / offer, (ii) consideration, and (iii) two or more… Read more »

Federal Government Construction Contracts

Indulging in Federal construction contracts can be very lucrative in the federal procurement world. However, the risk of non-performance is definitely present and any federal construction contracting company must approach projects with caution.  As a contractor, you should be aware that you are dealing with an extremely large client with a… Read more »

Breach of Contract Remedies

 Importance of Breach of Contract Remedies in a Lawsuit As a party to a contracts lawsuit, you can seek several remedies for breach of contract and damages. Sometimes the decision to file a case, or not, could depend on potentially available solutions. Also, when filing a lawsuit your complaint has… Read more »

Breach of Contract Termination Letter

Drafting a contract termination letter starts with the basis for the termination and making sure that the underlying reason for the letter does not breach the contract. This section deals primarily with when you receive a contract termination letter from the federal government. This can be for a termination for… Read more »

Joint Ventures Agreement and Contents 13 CFR 124.510

Contents of a joint venture agreement are statutorily set for small businesses and 8(a)certified companies. If you are a small business in the SBA 8a certification program and thinking about entering a joint venture agreement with another company, there are a few things that you want to consider. Not only are the… Read more »

What is Commercial Law?

Commercial litigation law entails the various aspects of business law that deals with the relationships between corporations, merchants and manufacturers, interstate trade and so on. What is Commercial Law? By definition commercial law includes carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of… Read more »

Termination For Convenience Clause Minimizing the Impact

The Termination for Convenience Clause in a federal government contract gives the agency the unilateral right to give you an early termination notice if it is in the government’s “best interest.” Sometimes there are questions as to the government underlying reasons.  Regardless of fault, the termination for convenience clause requires the government… Read more »

Request for Equitable Adjustment – What is an REA Government Contracts

Request for Equitable Adjustment  (Equitable Adjustment FAR (REA Government Contracts)), in government contracting addresses a contract adjustment and is driven by the changes clause, to compensate you due to expenses incurred because of government actions, or to compensate the Government for contract reductions. Many companies have recently fallen prey to… Read more »