An employment contract is an integral part of doing business. It sets out the expectations for the employer/employee relationship and can guide the path to resolution in the event of a dispute. Unfortunately, employers never know the strength of their contracts until faced with a challenge. A legal dispute will put that contract to the test. The contract will likely be attacked by an employee and their legal counsel, scrutinized by a judge, and ultimately be used to determine whether your business survives the dispute.
Business disputes are often a part of doing business. Not everyone will agree on every decision or business plan. It is important to carefully consider resolution options when these disputes arise. In Canada, there are generally two pathways to resolution.
There are situations when events outside of our control can make it impossible to honour the terms of an employment contract. When this happens, legislation allows for the parties to get out of that contract. One option that can apply in these situations is the Frustrated Contract Act.
One of the first and most important decisions that a person must make when kicking off a new commercial enterprise is to choose the kind of legal structure within which to operate. The choices in British Columbia are distinct mainly because of differences in taxation, personal liability, control and decision-making powers.
Entrepreneurs looking to purchase a business are wise to complete thorough due diligence before finalizing the deal. Due diligence essentially involves research done on a target company before completing a transaction to mitigate the risk of any surprises after the deal is complete. When purchasing a business, it is important to complete thorough financial and legal due diligence on the target business.