Question 1

Why does a small business need a Shareholder Agreement?

Accepted Answer

It protects minority owners and outlines clear legal procedures for dispute resolution, share valuations, and what happens if a partner leaves.

Question 2

What makes a business contract legally binding in the UK?

Accepted Answer

A valid contract requires an explicit offer, clear acceptance, an intention to create legal relations, and a valuable consideration (usually payment).

Question 3

How do I legally handle a client who refuses to pay an invoice?

Accepted Answer

Issue a formal Letter Before Action (LBA) demanding payment within 14 days, followed by mediation or small claims court action if ignored.

BUSINESS & COMMERCIAL FAQ

Frequently asked questions

Why does a small business need a Shareholder Agreement?

What makes a business contract legally binding in the UK?

How do I legally handle a client who refuses to pay an invoice?