Understanding Contract Law in Maryland
Even though contracts and agreements are important pillars of the business process, quite a few people are unaware of the legal intricacies that contractual obligations can bring about.
Most business people are familiar with the very basics of contracts insofar as the promises made upon agreement and execution. For example, an administrative assistant in Baltimore promises to pick up lunch for her coworkers at the office; something as seemingly innocuous as this situation would fall under the definition of a contract per the Maryland Code section 2-106, which covers several aspects of commercial law.
In an ideal world, all contracts will be executed, celebrated, performed, and terminated to satisfaction without any issues. In fact, most contracts are performed satisfactorily on a daily basis. Let’s say an Uber driver picks up a rider in Rockville and successfully drops her off in Greenbelt; this is an example of a contract performed to completion.
Since contracts are based on human trust and intent; they have great potential of being flawed or ending up botched. Improper construction of a legal agreement is one of the many issues that a Maryland contracts attorney may detect when taking on a case involving a business contract. The more valuable the transaction implied in a contract, the greater the chance of something going wrong.
Although verbal agreements can be legally binding in Maryland, they should not be used when the offer is of considerable value. For example, a contract to purchase a boat that includes payment of docking fees for three months at a fancy Baltimore marina should not be constructed as a verbal agreement. The transfer of a vessel that includes the right to a marina slip for a few months should be arranged by a written contract that features competency, proper acceptance, reasonable consideration, and sensible performance.
Contract law is a major focus of practice at S.A. Stevenson Law LLC. Clients who need the services of a Maryland contracts attorney should consider the experience of the legal staff at S.A. Stevenson Law LLC, a firm dedicated to the complexity of business contracts and agreements. If you have questions about breach of contract, potential fraud, non-performance, statute of limitations, and other business issues, contact S.A. Stevenson Law LLC today and speak with a seasoned Maryland contracts attorney.