September 24, 2018 / by Jake Goldsmith / Contracts / 0 comments
Contract law is rife with terms of art which can be very confusing to the average business owner. In our previous articles, we have tried to shed some light on terms like Consideration, Indemnity, and Merger. This article will address a term whose definition may not seem intuitive at all, Force Majeure. Hint: If the […]
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Part 2: The Most Common Lawsuits Filed Against Small Business Owners- #5- Breach of Contract
August 7, 2019 / by Larry Donahue / Contracts, Small Business / 0 comments
Breach of contract means just that; a contract has been “breached” or broken. There are varying degrees of breach ranging anywhere from no performance at all to some/minimal performance. Lets break the concepts down to their most basic elements and examine them further. There are two common forms of breach; anticipatory breach and actual breach. […]
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How to Form an LLC for your Food Truck
July 12, 2019 / by Sean Friend / Business Tips, Contracts, LLC, Small Business / 0 comments
Food? Check. Truck? Check. Now you’re ready to make your business official. One of the steps in this journey is starting an LLC for your mobile eatery, the good news is it’s not as difficult as you might think. Why have an LLC for my Food Truck? For Food Trucks, LLC’s provide a formal business […]
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Understanding Contracts: The Professional Athlete
June 24, 2019 / by Kameron Kramer / Contracts / 0 comments
When most of us hear about our favorite pro athlete signing with a new team, we see dollar signs. Mike Trout’s $426 million contract with the Los Angeles Angels makes for good conversation at any happy hour. And then there’s the lawsuit recently brought by the U.S. women’s national soccer team against the U.S. Soccer […]
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Bad Contracts: What Could Possibly Go Wrong?
June 19, 2019 / by Jake Goldsmith / Contracts / 0 comments
More often than not, parties will enter a contract on good terms, with the expectation that things will continue to run smoothly because they think they “get along” with the other party. If things continue to go well, that’s great. The more important question is, what if they don’t? What if things go wrong down […]
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Understanding Contracts: The Contractor and Subcontractor
May 28, 2019 / by Kameron Kramer / Contracts / 0 comments
Let’s face it: there comes a point when we realize we can’t do it all. Accordingly, many businesses hire contractors to perform services ranging from payroll, marketing, janitorial, or even tax preparation. Contracting for these operations enables businesses to focus on their core competencies rather than peripheral tasks that are not at the heart of […]
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Contract Tip: What is a Counterpart Clause?
January 17, 2019 / by Larry Donahue / Contracts / 0 comments
Boilerplate contract terms are often overlooked, and in some cases, this can be dangerous. A counterpart clause is one such oft overlooked contract term. While I would hesitate to classify it as “dangerous,” understanding what the clause means and does is helpful in understanding your duties and obligations under the contract. The Counterpart Clause To […]
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Contract Tip: What is an Assignment Clause?
December 18, 2018 / by Larry Donahue / Contracts / 0 comments
Let’s say that you are planning your wedding reception and you contracted with a particular ice sculptor because of his demonstrated ability to sculpt intricate, life-size ice replicas of the newlywedded couple. A resplendent hypothetical, of course. If that accomplished ice sculptor later wants to outsource his contractual responsibility to another ice sculptor—who does not […]
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Art of the Lien: Types of Liens and How to Avoid Them (Part 1)
October 31, 2018 / by Larry Donahue / Business Tips, Contracts / 0 comments
Almost all types of businesses deal with liens, one way or the other. If you borrow money or have a line-of-credit with a vendor, chances are there is a lien on some form of property or asset of your business. Similarly, if your business is in construction, real estate improvement of any type, loans money […]
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Contract Tip: Why Governing Law and Jurisdiction is Important
October 13, 2018 / by Larry Donahue / Contracts / 0 comments
Let’s suppose you have a small consulting business. Given the power of the Internet, you can be located in New Mexico, have a partner in California and a client in Illinois. You can work from home. You feel you do good work, and your reputation speaks for itself. You are busy. A friend told you […]
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Contract Tip: What is Force Majeure?
September 24, 2018 / by Jake Goldsmith / Contracts / 0 comments
Contract law is rife with terms of art which can be very confusing to the average business owner. In our previous articles, we have tried to shed some light on terms like Consideration, Indemnity, and Merger. This article will address a term whose definition may not seem intuitive at all, Force Majeure. Hint: If the […]
Read more