The Law of Contracts is a Simple Matter of Exchange and Use

Contrary to popular belief, the law of contracts does not simply involve an exchange between parties. In fact, it often involves complex agreements with specific terms and conditions.

Business Entities are Only Created for Tax Purposes

Many people think that business entities such as corporations or limited liability companies (LLCs) can only be formed for tax purposes. However, this is not entirely true.

The Law of Contracts Requires a Formal Agreement

While it is true that contracts require a formal agreement, there are exceptions. For example, informal agreements such as promises or assurances may not be enforceable.

Business Lawyers Only Deal with Large Companies

This is a common misconception about the role of business lawyers. While it is true that larger companies often require more complex legal advice, business lawyers are trained to work with all types of businesses and individuals.