The term “statute of frauds” often gets mentioned during disputes involving oral contracts. The statute of frauds outlines that some contracts must be “memorized” in a signed document that outlines the agreement. Nonetheless, a written agreement isn’t always required for contracts to be enforceable. In the US, different states recognize various exceptions to the statute …
What Are the Exceptions to the Statute of Frauds? Read More »
A clawback is a contractual provision under which a reward, bonus or compensation is returned, cancelled, forfeited or recovered. Sometimes, the person returning the reward pays a penalty in the event of fraud, misconduct or breach of contract. The law states that the award can be forfeited whether or not it has been paid, vested …
Yes. An employer can claw back a bonus, but this depends on the terms of the contract. If the contract states that the employer can claw back a bonus, the employer will likely do so. The clawback terms may apply under certain circumstances or undesirable events. For instance, clawback can happen in the case of …
You can cancel an anticipatory breach of contract upon a failed statement to perform by the promisor based on your contractual obligations. When you decide to cancel the contract, you may get a refund from the promisor. If the promisor states that they can’t deliver upon the contract terms, you can proceed and file legal …
How Do You Handle Anticipatory Breach of Contract? Read More »
Generally, a shareholder can refuse to sell their shares, per the terms of the agreement. If there is no agreement or the agreement doesn’t have a buyout clause, then the shareholder may be forced to sell their shares. If part of the agreement requires a shareholder to sell their shares, then the majority shareholder can …
