Understanding Contracts: How do Security Interests work?

May 27, 2020 / by Ian Alden / Document and Contracts / 0 comments

Last Updated: No update. New article. Contracts are at the heart of business. At their simplest, contracts are the formalized agreement between two (or more) parties spelling out what each party is required to do and what benefit they’re expecting to get in return. But what happens when one party doesn’t — or can’t — […]

Contract Tip: What is an Assignment Clause?

December 18, 2018 / by Larry Donahue / Document and 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 […]

What is a Business Succession Plan?

September 14, 2018 / by Larry Donahue / Document and Contracts / 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 […]

L4SB, BLSW, and Slingshot Law have moved to downtown Albuquerque!

September 13, 2018 / by Larry Donahue / Promotions / 0 comments

We’re proud to announce our new corporate offices in Albuquerque, New Mexico. This marks an important milestone for our law firms. In fact, 2017 year was a big year for Business Law Southwest and L4SB. L4SB was named “One of the Fastest Growing Companies for 2017” in New Mexico while the merger between the two […]

What is a Certificate of Good Standing?

September 11, 2018 / by Larry Donahue / Document and Contracts / 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 […]

Contract Tip: Top 6 Problems in Contracts

August 19, 2018 / by Larry Donahue / Document and Contracts / 0 comments

No one likes to pay a 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. There are many problems in contracts, […]

The “Simple Contract”

July 21, 2018 / by Larry Donahue / Document and Contracts / 0 comments

If I earned a nickel every time someone asked me to provide a “simple contract,” I would be a rich man indeed. The problem is, when most people think of “simple contract,” they think a short, one-or-two page document, that protects their interests, without getting them into trouble, and without having to spend any time […]

The Contract: Details are Important

May 28, 2018 / by Larry Donahue / Document and Contracts / 0 comments

Let’s say your business is expanding quickly and you are looking to hire a new employee. You are busy managing the day-to-day, so you don’t really have time to interview. You decide your best option is to hire someone from a temp agency. You contact an agency, and the contract they give you says that […]

What is Consideration in Contract Law?

April 23, 2018 / by Larry Donahue / Document and Contracts / 0 comments

In previous blog articles, we talked about Exceptions That Can Void A Contract and How to Get Out of a Contract. Both of these articles touch on a very important aspect of contract law that is often overlooked by small business owners: Consideration. Definition Consideration under contract law is defined as a bargained for exchange […]

Contract Tip: What is a Merger Clause?

October 27, 2017 / by Denise Abeita / Document and Contracts / 0 comments

In General, it’s Not Enforceable Unless it’s in the Contract A merger clause, also known as an integration clause, is a common contract provision. The clause provides that the written contract is the final and complete agreement and any prior or contemporaneous agreements between the parties is superseded by the written contract. Simply put, the […]

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