The coronavirus pandemic has seen an increase in the use of the fundamental force majeure contract clause, which discharges certain contractual duties following an event’s occurrence. Exactly what obligations are discharged as well as what circumstances are associated with a force majeure depend on how a contract addresses these terms. What Constitutes Force Majeure When… [Continue Reading]
Four Things to Include in an Investor Agreement
Anyone who has seen the TV show Shark Tank understands that securing investors is often an important part of growing a company. To both maintain and protect your relationship with investors, your investor agreements must be carefully constructed. The best-written investor agreements often include several terms that help create peace of mind that an investment… [Continue Reading]
Writing a Strong Liquidated Damages Clause
If you write a bad one, your liquidated damages clause can leave you at an increased risk of facing litigation. After all, consider the important role that these clauses play in business contracts. Buyers and sellers enter into agreements to avoid any disputes over the amount of damages or mitigation. While business owners often understand… [Continue Reading]
Critical Steps to Take Before Signing a Commercial Lease
Signing a commercial lease is not a decision that should be made in a rush. One of the largest costs for many business owners is commercial real estate rental. As is the case with most contracts, a business owner who enters a commercial lease contract without considering all of the available options might end up… [Continue Reading]
Understanding Michigan Non-Compete Agreements
There is a substantial amount of paperwork involved in the on-boarding process for a new employee. One of the documents that a new employee may be asked to sign is a non-compete agreement. Some people do not give a a second thought before signing a non-compete agreement, but for many, that could prove to be… [Continue Reading]
Most Common Contract Mistakes
Contracts play a critical role in nearly every aspect of our daily lives. An adult can expect to sign a contract in order to complete medical visits, get help with a business, or retain an attorney to provide civil or criminal legal advice. Unfortunately, many people make basic mistakes when it comes to contract preparation… [Continue Reading]
Independent Contractor or Employee?
When a business makes the decision to increase its workforce, it must also make a decision on how the added workers are to be hired and classified. Generally, a business can choose to hire people as employees or as independent contractors. How the person is classified makes a difference in how the person is paid… [Continue Reading]
The Importance of a Buy-Sell Agreement
When two or more people come together to form a business, they may focus on many different issues that they anticipate will arise as they run the business. One of the main issues that should be discussed is a plan for how the business will be sold, dissolved, or inherited in the event one of… [Continue Reading]
When Time Matters in a Commercial Transaction
The use of contracts in commercial transactions is both common and recommended. Most contracts contain terms that are crucial to each party, and the failure to perform one or more obligations under the contract can affect the ability of the other party to perform under the contract. Therefore, when an aspect of the deal is… [Continue Reading]
Employee Handbooks Affect at-Will Employment
Employers are often encouraged to have employee manuals and handbooks that help employees know what is expected of them as part of their employment. Employee manuals and handbooks can be a good way for employees to avoid inappropriate workplace conduct, and understand the limits of their employment relationship. However, in some cases, employee handbooks may… [Continue Reading]
