As a business owner, head of a corporation or board of directors, you probably know some basics about what goes into making a valid contract such as: offer, acceptance and consideration. Of course, contracts are not as simple as those three key terms. Other factors, such as the capacity of the parties, whether it was written or verbal, and whether or not it is legally valid, etc., also frame the agreement. While contract law varies state to state, and there are differences in whether the parties are contracting for goods or services, the basic elements mostly remain the same-including when a breach occurs.
As Donald Trump's bid for the presidency has continued, many of his business partners have quit their dealings with him. Much of the fallout stems from Mr. Trump's perceived hostility toward foreigners in general.
One of the most vulnerable times for any Georgia company that creates a product is during the development of the product before it is released. If someone either from within the company or outside of it releases a similar product first, it could cost a company a substantial amount of money. This scenario led to a company based in another state to file a fraud and breach of contract lawsuit against one of its former employees.
Many Georgia employment contracts include non-compete clauses. When employees leave their place of employment, these provisions preclude them from working for competitors within the same geographic location for a specified amount of time since it could create unfair competition. If former employees fail to abide by this requirement, they are considered to be in breach of contract.
Georgia fans of the reality television series "Here Comes Honey Boo Boo" are most likely aware that the show was suddenly cancelled on Oct. 24, 2014, amid allegations that Mama June was involved in a relationship with a man convicted of child molestation. In the aftermath of the show's cancellation, TLC -- the network that carried the show -- is accusing Mama June of breach of contract. However, she says the network breached the contract first, so she should not have to honor it.
Georgia baseball fans and sports history buffs alike know that Wrigley Field is part of the history of the sport. Since 2004, the field has been undergoing renovations costing nearly $375 million. At that time, the Cubs signed a contract with the rooftop clubs regarding the renovations. As part of the revitalization of the field, the Cubs now want to install advertising signage and video scoreboards above the bleachers, which the rooftop clubs say violates their agreement. A breach of contract suit was filed in Jan. 2015 to stop the installation.
One of the first things we are taught as children is to always keep promises. People usually find this lesson to be useful at all stages of life. Of course, this is a particularly important concept when it comes to doing business in Georgia or in any other state. Failure to keep one's promises in business can result in a contract dispute.
It is not uncommon for companies to allow other companies to use patented materials, so long as they are paid royalties for their use. Therefore, it may not surprise Georgia residents that Microsoft entered into an agreement with Samsung to allow the company to use some of Microsoft's patented materials relating to smartphones in 2011. Sometime later, a contract dispute erupted between the parties, and Microsoft has filed a lawsuit against Samsung.
Georgia business people most likely already know that competition is the lynchpin of business operations in the United States. Competition provides better products, services and prices to consumers. However, it is possible for someone to go too far when competing with another company. If so, that party could be guilty of tortious interference.
Up until last year, National Dairy Products LLC and Dairy Smart Inc. had a working relationship with Trader Joe's, a company with which some Georgia consumers may be familiar. The specialty grocer allegedly broke its contracts with the two companies. This was the impetus for the breach of contract lawsuit the two companies commenced against Trader Joe's.