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What Is a Land Lord’s Lien?

Most commercial leases include a Land Lord’s Lien Clause and many business owners don’t understand that magnitude of it. A Land Lord’s Lien is generally a clause written into a lease. What the clause does is allow a Land Lord to keep the property within a leased space should the tenant default on the payment […]

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Understanding Contracts: The Contractor and Subcontractor

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 an Assignment Clause?

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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What is a Business Succession Plan?

Business Succession Planning

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 […]

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What is a Certificate of Good Standing?

Certificate of Good Standing

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 […]

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Contract Tip: Top 6 Problems in Contracts

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, […]

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What is Consideration in Contract Law?

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 […]

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A Contract Can Save You from a Bad Actor

We keep a freshly stocked box of tissue on every conference table in our primary offices in Albuquerque. The reason for this, is when someone comes into our office, it’s usually because something bad is happening to their business. It can be many things, but we commonly see businesses dealing with a bad actor who […]

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