For companies like yours that are involved in the oil and gas industry, Kansas is a good location for constructing pipelines and other oil and gas needs due to its location near the oil fields of North Dakota, Colorado and Texas. Consequently, many large oil and gas industry corporations use the state as an area to take care of their infrastructure needs.
As a normal part of conducting business, many companies enter into contracts with others in order to complete projects or manufacture products. In some cases, legal disputes arise over the performance of duties outlined in the documents. If the contract has been breached by one party, the remedy available to the other business depends on if the breach was a minor or a material.
According to a survey released by a division of the Urban Land Institute, commercial real estate is expected to experience sustained gains in value over the next three years. This conclusion was reached after analyzing market data that indicated sound economic fundamentals. Transaction volume was expected to grow 11 percent in 2015 compared to 2014.
Single-family homeowners in Colorado may have less time to file a lawsuit against home builders for faulty work if the House passes a proposed bill that has already been approved by the state senate.
Kansas residents may be familiar with the legal principle of consideration. In contract law, consideration usually involves money being exchanged for goods or services. For example, an agreement for one party to pay the other for house painting services would likely be an enforceable contract because of the promise to pay. While money does not need to change hands in order for a contract to be enforceable, there does have to be some form of consideration.
When two parties agree to a construction contract, the terms of that contract must generally be in writing. This is because most states have what is known as a statute of frauds, which is aimed at reducing the number of fraudulent claims related to large contracts. In the event that a contract does not need to be put into writing, any changes to the deal may need to be written down.