Dinn, Hochman & Potter, LLC
TF: 800-233-4079
L: 440-681-8005

November 2015 Archives

Mediation can resolve contract disputes

Contract disputes between Ohio business partners are very common and arise for a multitude of different reasons. For most entrepreneurs and business owners, protecting the business that they have built and expanding it further is the ultimate goal. Conflict resolution is an important part of preserving a business, since litigation and arbitration could ultimately give way to solutions that are not so beneficial.

What are some considerations for starting a business in Ohio?

Starting a business begins with an idea, but it certainly does not does not end there. between the concept and the commencement of operations there are several legal matters that you must decide upon. This post touches on some of them.

What's a memorandum of understanding, and do I need one?

Business contracts can be informal or formal, oral or written. And sometimes the process of reaching an agreement can involve extensive and detailed negotiations before the two sides can reach a point of "agreeing to agree." In this kind of situation, sometimes the parties to the upcoming agreement will enter into a document meant to memorialize the points they want to make sure are addressed in the final contract. This document is referred to as a "memorandum of understanding" or as a "letter of intent."

What makes a breach of contract "material?"

It can be the case that after the parties to a contract begin their respective performance obligations under the document, disagreement can ensue as to whether one party performed its contractual duties sufficiently or whether it failed to do so in such a way as to constitute an actionable breach of contract. When making the determination of whether a breach of contract will support a legal claim for damages or another form of contractual remedy such as specific performance, an important question to tackle is whether the breach was "material" in nature.

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Dinn, Hochman & Potter, L.L.C.
5910 Landerbrook Drive, Suite 200
Cleveland, OH 44124

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