Keeping owners, managers, and stakeholders up to date on issues affecting their businesses.
When entering a contract with another party, you may wish to include a mechanism to ensure you receive appropriate compensation if the other party wants to terminate it early. It’s important to remember that while a contract can impose a fee for early termination, the fee should not be structured or referred to as a “penalty.”
The imposition and proposition of new tariffs may create uncertainty around the costs and availability of imported materials. This can cause challenges for businesses with contracts that are structured to include pricing based on those costs or with scheduling requirements tied to the availability of materials.
All of us have been responding to the challenges presented by the novel Coronavirus (COVID-19) in some form or manner within our personal lives. Many, if not most, of us are also making significant adjustments within the context of our professional lives, with many business owners and managers contemplating steps to help ensure the survival of their businesses. It should go without saying that many businesses have been reviewing existing contracts and arrangements with vendors, suppliers, customers, landlords, and subcontractors to determine the respective rights of the parties.
Wisconsin Statute Section 134.49 enacted May 1, 2011, imposes certain disclosure, notice, and other requirements for Wisconsin “business contracts” that automatically renew.
Many of you are doing business under what are called “executory” contracts: those in which the parties have promised to engage in some future action. (Contrast these to “executed” contracts which, once signed, have been fully performed with no promise of future performance.) Executory contracts, such as leases and offers to purchase, are common in real estate law.
It is not uncommon for non-attorneys to be confused regarding the differences between option agreements and rights of first refusal. Understanding the nature of both arrangements helps to ensure that you can secure rights that are most advantageous under a given set of circumstances.
Under Wisconsin construction lien law, if you are a Prime Contractor working on a “private small project”, there are several things to do to perfect your construction lien rights.
In a 2017 Tax Court case, the court found that payments from a corporation to its sole officers were taxable income instead of nontaxable loans to the officers.
Because rights can be lost if proper timelines and procedures are not followed, it is helpful to know the rules before starting a project.
Each and every day, you assist business owners with complex issues, but have you reviewed your contract for services?
Letters of intent are created during the initial stages of a transaction as a means to summarize the main points of the contemplated transaction.
These days, it feels like you can literally find anything on the internet.
Employers often do not realize that when courts are deciding whether to enforce such agreements, they do not treat these agreements just like any other contract.