Business Law
Contact Us to Get Started!Our Business Law Services
We view ourselves and our clients as members of a team dedicated to resolving our clients’ problems whatever they may be.
We provide accurate information on all options available in any situation so that our clients may make informed decisions on the optimal course of action for themselves, their families or their business.
Whether we are acting as general in-house counsel for a business, representing a client in a transaction or advising clients when they are in financial distress, our job is to provide timely advice so that as a team we can decide the best course of action.
Our friendly, knowledgeable and experienced staff prides themselves on building relationships with our clients so that we may provide quality legal services tailored to our client’s particular needs. We are committed to keeping our clients apprised of the status of their case and make a point to communicate with our clients about a change in their matter as quickly as possible.
The Thompson Law Group, P.C. is committed to providing quality legal service at reasonable rates. It is our hope that should a problem arise for a client, that we are able to resolve our client’s issue as quickly, cost-effectively, and as beneficially as possible.
Our business is getting you back to your business.
Succession and Estate Planning
Plan Ahead
Did you know that your business may be owned by your trust? Many business owners do not plan for their business in the event they are temporarily or permanently disable or, God forbid, they die. There are many simple fixes to protect your business and your estate. Contact us to discuss what steps you can take to ensure that your business continues to thrive in the event the unthinkable occurs.
The Thompson Law Group, P.C. is committed to providing quality legal service at reasonable rates.
Transactional Law
Review Transactions Before Problems Arise
The Thompson Law Group, P.C. has handled almost all types of transactions from the formation of a business relationship, purchase or sale of a business to any other type of contract that is necessary for extension of credit, performance of work, or lease of property.
It is imperative that written agreements be comprehensive as well as understandable to minimize future problems. If a contract is unclear, then the parties will have to litigate issues if there is a dispute in the future. However, if contracts are clear and the parties are in agreement to the terms there tend to be fewer problems in the contractual relationship as well as minimal potential litigation.
With the onset of the Internet, almost all types of contracts are available to the public. It is not necessary to reinvent the wheel and spend money to write a contract from scratch, but it is important to have an attorney review any contract prior to signing it to make sure that it encompasses the individual situation as well as accounts for any potential problems in the future. Many individuals and businesses fail protect themselves in a transaction by considering problems that could arise. Sometimes a party extending credit can set up automatic payments as well as require collateral to secure a debt. In addition, there are many dispute resolution clauses that may minimize costs in the event of disputes. There are many default provisions in the law that may be imposed on a contract if it is silent on a particular subject. Many times the parties do not want these default provisions and only learn of them once they have been imposed. This is especially true in the case of corporate Bylaws and limited liability company Operating Agreements. Additionally, sometimes the law is silent on a particular issue and the parties are forced to litigate a dispute as there are no contractual provisions or law governing the issue.
In our transactional work, we focus on prevention because we believe that ten minutes with a lawyer at the onset of a deal sometimes can save thousands of dollars in litigation expenses or avoid a problem altogether. We view ourselves and our clients as members of a team dedicated to protecting them in a transaction. Our job is to handle all aspects of a transaction so the client is free from worry about procedural matters. We are committed to keeping our clients apprised of the status of their case and make a point to communicate with our clients about a change in their matter as quickly as possible.
The Thompson Law Group, P.C. is committed to providing quality legal service at reasonable rates.
Business Contracts
How is a Business Contract Used?
A contract is an agreement between two parties. Those parties may be individuals or business entities. In Arizona, a contract may be written or oral. If one of the parties fails to perform on the contract, that party is deemed to have breached the contract and may be sued.
If the breach of contract occurs on a written contract, the party that has breached the contract may be sued for a period of six years after the breach occurs. If the contract is an oral agreement, the party that has breached the contract may only be sued for a period of three years after the breach. The period of time that a party may sue for a breach of contract is called the “statute of limitations”.
It is always in the parties’ best interests to put a contract in writing and have it signed by both parties. Then, if there is a breach of contract there is no question as to what the terms of that contract were and why they have been violated.
In the case of an oral agreement, it is harder to prove the terms of a contract if the parties’ are not in agreement. When there is a written contract between the parties, the contract is considered to be the full and final agreement between the parties. In short, the written contract contains all of the terms that the parties agreed to and none of the parties’ prior negotiations resulting in the written agreement are admissible in a court proceeding.
The Thompson Law Group, P.C. is committed to providing quality legal service at reasonable rates.
The information provided in this website is meant only as a general description of the current laws as of the date of the writing. It is not meant to be an exhaustive discussion of all the nuances of the law and is intended to be only an overview. Many issues may appear simpler than they are, and an individual should always contact an attorney to obtain a complete, accurate interpretation of the law given the individual's particular circumstances. Thompson Law Group, P.C. makes no representations as to how the law would affect a particular situation and intends only to illustrate areas of concern and give general information.
