Business contracts document the terms of an agreement and define the responsibilities of each party. Learn how these agreements function in Minnesota business relationships.
Contracts are a part of everyday business. Whether a company is hiring a vendor, entering into a partnership, or providing services to a client, there’s often a written agreement that outlines how the relationship will work.
If you’ve searched “What is a business contract?”, you’re looking at one of the most common legal documents used in business. While every agreement is different, business contracts all serve the same basic purpose: documenting the terms agreed to by the parties involved.
What Is a Business Contract?
A business contract is a legal agreement between two or more parties. It outlines the rights, responsibilities, and obligations of each party and serves as the framework for the business relationship.
Business contracts are used in businesses of all sizes and across many different industries. The contents of each contract depend on the type of transaction or relationship it is designed to address.
What Information Is Typically Included?
Although every agreement is unique, many business contracts contain similar types of information.
This often includes:
The details included will vary depending on the purpose of the contract.
Why Businesses Use Written Contracts
Business relationships often involve ongoing responsibilities, financial commitments, or agreed-upon services. A written contract documents those terms and creates a record of what the parties have agreed to.
From straightforward service agreements to more complex commercial transactions, contracts establish the expectations that govern the relationship moving forward.
Business Contracts Aren’t All the Same
There isn’t a single type of business contract. Depending on the situation, businesses may use agreements related to:
Each agreement is designed to reflect the specific relationship and transaction involved.
How Contracts Support Business Relationships
Contracts are used throughout the life of a business. They document important terms, define responsibilities, and provide structure for a wide variety of business activities.
While the language and provisions may differ from one agreement to another, the purpose remains the same: to clearly document the terms that have been agreed upon by the parties involved.
Final Thoughts
Business contracts are a fundamental part of doing business. Whether the agreement involves services, commercial transactions, or another business relationship, contracts help document the terms that guide the relationship.
At Borden, Steinbauer, Krueger & Knudson, P.A., we assist businesses with drafting, reviewing, and negotiating contracts for a variety of commercial matters.
Born and raised in St. Cloud, Minnesota, Sam is thrilled to return to Central Minnesota after passing the bar exam in 2024. Sam's diverse experience spans roles with the Douglas County Attorney’s Office (Civil Division), a Nebraska lobbying firm, Hudl, and the University of Nebraska Civil Clinic. Through these positions, he gained valuable exposure to various areas of law, including civil litigation, policy advocacy, and client counseling. Early in his legal career, Sam is eager to leverage his skills and experiences to deliver effective and personalized legal solutions for BSKK’s clients.
Areas of Practice:
- Business Litigation
- Construction Litigation
- Property Law & Real Estate
- Contract Disputes
- Personal Injury
- Probate/Trust Disputes
- Landlord/Tenant
- Family Law
Education:
- University of Nebraska College of Law, Lincoln, Nebraska, 2024, J.D.
- Concentration in Real Estate and Business Transactions
- North Dakota State University, Fargo, North Dakota, 2019, B.S.
- Honors: Magna Cum Laude
- Majors: Political Science and Management Communication
Bar Admissions:
- Minnesota 2024
Professional Memberships:
- Minnesota State Bar Association
David V. Hurt is a seasoned litigator who has been advocating for individuals, families, and businesses across Minnesota since 2012. His practice is rooted in a practical, results-driven approach that blends strategic litigation with thoughtful dispute resolution. David's clients trust him to navigate complex legal issues with clarity, efficiency, and unwavering commitment.
He began his legal career clerking for the Honorable John G. Melbye in the Ninth Judicial District of Minnesota, where he gained invaluable perspective on trial practice and judicial reasoning. Since then, he has built a diverse portfolio of experience at firms in Minneapolis, Washington, D.C., and Pennsylvania—litigating matters ranging from corporate and construction disputes to aviation claims.
David’s practice spans a wide range of civil matters, including business formation and litigation, real estate and land use disputes, probate and trust litigation, and family law. He is particularly experienced in resolving high-conflict disputes and routinely employs alternative dispute resolution strategies to secure favorable outcomes for his clients while minimizing cost and disruption.
Areas of Practice:
Education:
Bar Admissions:
Professional Affiliations:
Virginia "Ginny" Knudson represents individuals and businesses in various areas of law, including, estate planning and probate, business and corporate, real estate, and governmental relations. Ginny provides mediation services in divorce and custody, especially for business owners and high wage-earners, as well as for real estate, probate and business disputes. Ginny has been selected as a top attorney by Minnesota Super Lawyer Magazine from for 13 years.
Areas of Practice:
– Estate planning
– Business and corporate
– Real estate and landlord representation
– Probate disputes, guardianships and conservatorships
– Municipal and governmental relations
-- Mediation
Education:
– University of Minnesota Law School, Minneapolis, Minnesota, 1994, J.D.
– Honors: Cum Laude
– University of St. Thomas, Minneapolis, Minnesota, 1991, B.A.
– Honors: Summa Cum Laude
– Honors: Aquinas Scholar
– Major: Economics, Spanish, Minor: Business
Bar Admissions:
– Minnesota, 1994
– U.S. District Court District of Minnesota, 1994
– U.S. Court of Appeals 8th Circuit, 1996
Professional Memberships:
– St. Francis Church Finance Council, 2004–present, Chair and Trustee
- Essentia-St. Joseph's Medical Center, Directors Council, 2020-present
- Lakes Area Music Festival Board, Board Member 2022-present
– Brainerd Area Chamber of Commerce, 2016-2022, Board Member and Chair
– Mount Ski Gull, Board Member, 2014-2019
– Benevolent and Protective Order of Elks, Brainerd Lodge #615
– Zonta International, 1999–2018
– Jaycees, Brainerd, 1998–1999
– Aitkin/Crow Wing County Bar Association, 2000–2001, President
– Aitkin/Crow Wing County Bar Association, 1999–2000, Vice-President
Patrick has been practicing law since 1980, dedicating over 90% of his career to representing personal injury victims and their families, as well as handling a wide range of civil litigation matters. He is a Certified Trial Specialist recognized by the Minnesota Bar Association and was named a leading American attorney in personal injury law by the American Research Corporation. His professional excellence also earned him recognition as a Super Lawyer by Minnesota Law & Politics, placing him among the top six percent of attorneys in Minnesota.
Pat is enjoying a well-deserved retirement after 40+ years of practice. We thank Pat for his years of dedication to the firm and his service to the Brainerd Lakes Area. His legacy is marked by a deep commitment to justice, compassion for clients, and significant contributions to the legal profession.
Areas of Practice (during his active years):
Plaintiff’s Personal Injury
Civil Litigation
Real Estate Litigation
Construction Litigation
Contract Litigation
Mediation and Arbitration
Education:
– University of North Dakota School of Law, Grand Forks, ND – J.D., 1980
- Honors: Graduate of the Year, Bruce Inn
- North Dakota Law Review, 1979–1980
– Concordia College, Moorhead, MN – B.A., 1974
- Major: Business Administration / Hospital Administration
Bar Admissions:
Minnesota, 1980
U.S. District Court, District of Minnesota, 1981
Professional Memberships:
American Bar Association, Member
Minnesota State Bar Association, Member
American Association for Justice, Member
Minnesota Association for Justice, Member
Crow Wing-Aitkin County Bar Association, Past President
Brainerd Area Chamber of Commerce, Past Board Member
Brainerd Jaycees, Past President (1981–1982)
Benevolent and Protective Order of Elks, Brainerd Lodge #615, Past Exalted Ruler
P.O.R.T. Group Home, Past Member, Board of Directors
