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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
The unthinkable has happened. On the way home after work, a business owner was involved in a tragic accident and did not survive. The next day over at the workplace, business has come to a standstill. No one knows how to access the files that reflect the status of work in progress. No one has […]
No matter how old we get or how many businesses we own, we are never free of the dreaded “Report Cards” of life. As adult individuals we must concern ourselves with the data listed on our personal credit reports. As business owners and leaders, we must be aware of “Certificate of Good Standing”. For many […]
No one likes to pay the lawyer, but it’s always good practice for a small business owner or leader to hire an attorney to review contracts before signing them. Even the most basic or simplest of services can turn into a debilitating debate or fight under the right circumstances. To illustrate why it’s critical to […]
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 […]
Read more
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 […]
Read more
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 […]
Read more
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 […]
Read more
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 […]
Read more
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 […]
Read more
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
Planning for the Unthinkable
September 14, 2018 / by Larry Donahue / Business Law, Business Tips, Certificates, Contracts, Corporations, Resolving Disputes / 2 comments
The unthinkable has happened. On the way home after work, a business owner was involved in a tragic accident and did not survive. The next day over at the workplace, business has come to a standstill. No one knows how to access the files that reflect the status of work in progress. No one has […]
Read more
The Report Card for Businesses- What is a Certificate of Good Standing and How Do I Get Mine?
September 11, 2018 / by Larry Donahue / Business Tips, Certificates, Commercial Transactions, Contracts, Florida, Illinois, New Mexico, Texas / 0 comments
No matter how old we get or how many businesses we own, we are never free of the dreaded “Report Cards” of life. As adult individuals we must concern ourselves with the data listed on our personal credit reports. As business owners and leaders, we must be aware of “Certificate of Good Standing”. For many […]
Read more
Contract Tip: Top 6 Problems to Avoid in a Contract
August 19, 2018 / by Larry Donahue / Contracts / 0 comments
No one likes to pay the lawyer, but it’s always good practice for a small business owner or leader to hire an attorney to review contracts before signing them. Even the most basic or simplest of services can turn into a debilitating debate or fight under the right circumstances. To illustrate why it’s critical to […]
Read more