April 9, 2020 / by Kameron Kramer / Document and Contracts / 0 comments
We all know that business deals involve careful consideration of company finances, risk, and potential gain. But the contracts underlying those deals involve another form of consideration—something that demonstrates each party has a stake in the outcome. In fact, contracts are only legally binding if there is consideration (along with an offer and acceptance, as […]
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Time To Pay Up!
September 3, 2021 / by Kristy Donahue / Business Tips, Dispute Resolution, Document and Contracts / 0 comments
Easy and effective ways to make sure your business is paid what it is owed. Need some help collecting on a debt? Reach out to L4SB today for a consultation. We will let you know what your options are. Law 4 Small Business, P.C. (L4SB). A little law now can save a lot later. A Slingshot company.
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Before You Sign: Examine Your Contract!
August 11, 2021 / by Kristy Donahue / Document and Contracts / 0 comments
“Just sign here.” The three little words that can get you in big trouble if you do not fully understand what it is you are signing. Whether it is a lease, an agreement with a subcontractor or a contract with a vendor there are common red flags every business owner should be aware of. Along […]
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What Is a Land Lord’s Lien?
July 13, 2020 / by Larry Donahue / Document and Contracts / 0 comments
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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Why Can’t I Just Terminate My Lease?
June 30, 2020 / by Kameron Kramer / Document and Contracts / 0 comments
Wanting out of your commercial lease does not mean you can get out. Needing to terminate a commercial lease comes up often, and especially now with the current situation in the world. The bottom line is, commercial leases are governed primarily and solely by the lease itself, unlike residential tenants who enjoy certain protections under […]
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Pay-if-paid vs. Pay-when-paid in Construction Contracts
June 16, 2020 / by Larry Donahue / Document and Contracts / 0 comments
What every subcontractor really needs to understand. One little word in a contract can make a big difference. Take for example the word “if” and the word “when”. If you are a subcontractor, your ability to get paid and when that payment will happen is dependent on whether the word “if” or the word “when” […]
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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 — […]
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What is Fair Pay for Work Done?
April 21, 2020 / by Larry Donahue / Document and Contracts / 0 comments
Suppose you have a small manufacturing shop. A customer you have made parts for in the past calls and says he has an emergency. He asks that you manufacture, right away, dozens of parts- identical to parts you have made for him in the past. You send your client an e-mail letting him know that […]
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Consideration in Contracts
April 9, 2020 / by Kameron Kramer / Document and Contracts / 0 comments
We all know that business deals involve careful consideration of company finances, risk, and potential gain. But the contracts underlying those deals involve another form of consideration—something that demonstrates each party has a stake in the outcome. In fact, contracts are only legally binding if there is consideration (along with an offer and acceptance, as […]
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Using a Force Majeure Clause to Re-Negotiate with Vendors and Landlords in Light of the COVID-19 Pandemic?
March 20, 2020 / by Larry Donahue / Document and Contracts / 0 comments
In today’s COVID-19 environment, businesses are being told to close their doors and send employees homes. As such, many business owners are struggling to earn enough revenue to be able to meet their contractual obligations to their vendors, landlords and banks, let alone make payroll. With financial disaster looming for so many businesses, do standard […]
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Beware of Real Estate Contracts
February 19, 2020 / by Carrie Cook / Document and Contracts / 0 comments
Although more common on the residential side, business owners sometimes sign real estate contracts instead of mortgages as a way to get into the property fast. Real estate contracts may seem ideal for individuals or businesses who aren’t able to purchase property outright. However, before buying through a contract, there are some serious pitfalls to […]
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