Areas of Practice

 

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Business Transactions | Arbitration

Business Transactions

  • A contract is a promise or set of promises for the breach of which the law gives a remedy or the performance of which the law, in some way, recognizes as a duty.

  • Generally, the common law governs contracts. However, for contracts involving the sale of goods, Article 2 of the Uniform Commercial Code (UCC) applies. Article 2 has adopted much of the common law contracts, but when the common law and Article 2 differ, Article 2 prevails in a contract for the sales of goods.

  • Is there a mutual assent?

    Do you have an offer?

    Do you have an acceptance?

    Is there a consideration?

    Are there any defenses?

  • In most instances, an oral contract is valid. However, certain agreements, by statute, must be evidenced by a writing signed by the party sought to be bound.

    Under Georgia law, the Statute of Fraud is inapplicable to contracts that are of indefinite duration or terminable at will, or where there is the possibility of performance within one year. [Vinter v. Funk, 182 Ga. App. 39 (1987)]

  • Executor or Administrator Promises Personally to Pay Estate Debts

    Promises to Pay Debt of Another (Suretyship Promises)

    Promises in Consideration of Marriage

    Interest in Land

    Leases for more than one year;

    Easements of more than one year;

    Mortgage and most other security liens;

    Fixtures; and

    Minerals (or the like) or structures if they are to be served by the buyer.

    • Performance not within One Year from Date of the Contract

    • Good Priced at $500 or More

    Under Georgia Rules, a commitment to lend money must be in writing to be enforceable. [Ga. Code Ann. §13-5-30(7)]

    If you want to enter into a contract and need legal consultation, call us today to get the most updated information about your contractual rights.

  • Damages can be recovered only to the extent they can be proved with reasonable certainty and could not be avoided with reasonable effort.

    Monetary Remedy – Damages

    • Compensatory Damages

    The usual goal of damages for breach of contract is to put the non breaching party in the position she would have been in had the promise been performed, so far as money can do this.

    1) Expectation Damages;

    2) Reliance Damages;

    3) Consequential Damages;

    4) Incidental Damages.

    • Punitive Damages

    • Nominal Damages

    • Liquidated Damages

    When monetary damages are not sufficient, you may seek non monetary damage. Call us today and ask for a consultation about your legal rights.

  • Commercial paper (e.g., checks and promissory notes) is governed by Article 3 and 4 of Uniform Commercial Code. To facilitate a freely transferable but safe substitute for cash, a central theme of Article 3 is the holder in due course (“HDC”) rule:

    “if an instrument is in a special form (that is, it is negotiable) and it is transferred in a special way (that is, it is negotiated) to a person who takes in the instrument (that is, a holder in due course or “HDC”), the HDC will be able to force someone to pay the money due under the instrument unless the person from whom payment is sought has available one of very few so-called real defenses provided by Article 3.

    Call us today for any legal consultation regarding your Georgia Commercial Transaction. Our Lawyers will walk you through your legal rights and provide you with a professional legal service.

 

Arbitration

What is Arbitration?

Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

The Arbitration is one of the oldest and best-established alternatives to litigation in the court and judicial systems. 

Its principal characteristics are:

  • Arbitration is consensual;

  • The parties choose the arbitrator(s);

  • Arbitration is neutral;

  • Arbitration is a confidential procedure;

  • Arbitration costs less than litigation;

  • Arbitration is less formal; 

  • Arbitration is fast.

Parties can choose the arbitrator. The choice may simply be someone has a reputation for being fair and reasonable. Or, the parties may arrange that the arbitrator will be someone who is experienced in the subject matter of the dispute (be it medical malpractice, engineering, or securities) in the expectation that this will produce a fairer result than could be obtained before even a highly qualified, but generalist judge, or a lay jury.

The contract or arbitration agreement permits the parties to determine what substantive rules apply. The contract or arbitration agreement permits the parties to determine what substantive rules apply. Parties may also decide on the language and seat of arbitration. This easy procedure will help parties try their case before an arbitrator instead of a costly and time-consuming litigation process.

Call us today if you agree with an arbitration clause or would like to appoint our lawyers as your co-arbitrator or even your counsel in an arbitration case.