What are the Elements of a Binding Contract in Arizona?
January 9, 2019While contracts need not be in writing to be binding, there are three elements that must be a part of any agreement—written or oral—to be considered binding and enforceable in Arizona. Offer One party creates an offer by proposing—either in writing, verbally, or sometimes mere actions—an exchange of somethi…
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Watch Out for These Red Flags When Negotiating a Commercial Contract
December 12, 2018Negotiating a mutually beneficial contract is not always easy and can take weeks or even months to accomplish, depending on the nature of the deal. While negotiating can prove frustrating at times, this alone should not be a sign that you should break off negotiations. However, there are some signs that could be a …
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What is the Economic Loss Rule in Arizona?
September 24, 2018The economic loss rule exists in contract law to provide for the recovery of damages by a party that has suffered an economic loss — as opposed to tort law that provides a basis for recovering for property damage or personal injury. How the economic loss rule is applied varies from state to state and [&hellip…
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