Calgary Real Estate, Wills and Estates, and Business Law Blog

Consumers in Alberta and across Canada typically enter into several contracts each day without even realizing it. Buying property and obtaining a mortgage is a contract entered into with the bank; starting a new job involves the signing of an employment contract, and purchasing items is also a contract. When either party violates the terms or conditions of a contract, the best person to contact would likely be a lawyer with experience in business and commercial law. Regardless of the type of contract signed, it needs to contain six essential elements to make it legally binding.

The first two elements are the existence of an offer made by one party and acceptance of the offer by a second party. The party accepting the offer can do so in actions or words. When entering into a contract, one party benefits by means of interest, a right or profit, called a consideration, while the other party experiences loss, forbearance or detriment. Consideration is, for instance, what happens when one party agrees to pay for an object or service provided by the other party.

Technological development has changed how most people in Alberta and across Canada navigate their daily lives, including their finances. Goods are ordered and paid for online and dealing with bills, bank accounts and more are done on smartphones, laptops and PCs. This has also brought about changes in the way wills and estates are handled.

An essential part of estate planning is finding a way to allow trustees and executors access to the testator's computer, phone, different websites and online accounts to manage financial affairs, not only after the person's death but also in the event of an incident that causes incapacity. Most people keep their various passwords secret, and if they do not list them as a part of their wills, it will make life difficult for those left behind to deal with financial matters. Another matter with which to deal is the hard drive of the computer that likely contains a lot of sensitive and personal information, and including orders for beneficiaries, trustees and executors on what to do with the hard drive after a death must form part of estate documents.

When consumers are faced with long lists of terms and conditions, many tend to agree without bothering to read it. Though commercial laws serve to protect both consumers and businesses in Alberta, and across Canada, not all business owners comply with established standards. Terms and conditions can serve to contain important details about the company and its protocols, while also serving the interests of the consumers.

However, when terms and conditions are used to bury or hide details that could affect the cost of the service or to obscure the real marketing intentions of a business, costly and time-consuming litigation may result. Business owners should see terms and conditions as the foundation of the business relationships they want with their customers. Customers should be able to quickly find the parts that detail their rights and the company's responsibilities, such as protecting the personal information of clients.

With the holidays approaching, along with the increased commercial pace, fraud will likely be rampant. Business fraud is something that costs businesses in Alberta and across Canada millions of dollars each year. Fending off business fraud requires vigilance and plans that involve owners and staff members. Fraudsters are enterprising, and they will always come up with new, more innovative strategies to get past that first line of defence to gain access to emails, social media and more.

Safety advisers say an effective safety plan against fraud requires awareness of the latest scams that fraudsters use to target businesses. Frequent updating of anti-fraud policies is crucial, and so is sharing with employees any new information about the ever-changing tactics of fraudsters and scammers. Investing in network security systems is a good start, along with strong security practices that include training employees on how to recognize fraud and scams and the importance of reporting any suspicious behaviour.