The most recognizable type of law is found in court, with two or more parties battling against each other to come out on top in the case. However, there are many facets to the law and just as many types of lawyers to handle those areas. Many of these areas of law will not typically involve a courtroom. One of these areas is transactional law, a branch of particular importance to business owners. Transactional law governs contracts concerning business transactions between individuals or businesses, including the formation, interpretation, and dissolution of those contracts.
A transactional agreement is a contract where two or more parties exchange mutual promises or performances for a desired outcome. Transactional law involves the contracts that are inherent in many areas of business and trade. Because businesses and individuals can require a wide range of agreements or contracts, all with different regulations, this area of law is particularly broad.
There are many areas covered by transactional law, each with its own legal issues. A few basic branches of transactional law include:
There are many key benefits that a transactional lawyer will deliver to a business or individual:
A: Many different kinds of people may need a transactional attorney in their lifetime. These lawyers specialize in:
Although it may be possible to handle any of these areas without a lawyer, they can provide peace of mind by ensuring fairness and assuring legality. Their experience with the type of contract that you need to complete can help guarantee that your deal results in the best-case scenario.
A: Transactional law focuses on the agreement between two or more parties and seeks to avoid disputes that may arise while conducting business. Contrarily, litigation occurs in courts, with a party facing an opponent and attempting to win through a court victory. Any and all legal matters can go through litigation, and the opposing legal teams attempt to persuade the judge or jury to take their side.
A: Transactional attorneys spend their time drafting different contractual agreements for their clients. These contracts can include, but are not limited to, agreements pertaining to:
Transactional attorneys also review and negotiate various agreements, ensuring that contracts that you enter into cannot be harmful to you or your business. Drafting business policies, such as a terms of service agreement, falls under their purview as well.
A: Transactional law covers many different areas and can be relevant for many people and their businesses. It has relevance in several industries, including entertainment, commercial, corporate, and intellectual property. Within these industries, there are many applications of transactional law. These include:
Choosing an attorney that has experience with your particular needs can make a difference in the outcome of your agreement. Lobb & Plewe has been handling transactional law cases for almost 30 years to protect the rights and finances of our clients. We have a strong reputation for achieving positive results. Reach out today for a consultation so we can discuss your case and help you with your legal needs.
