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Keeping owners, managers, and stakeholders up to date on issues affecting their businesses.

Viewing posts in "Contracts".

Review and Execution of Contracts During the Stay-At-Home Period

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.

Uh Oh! Inadvertent Amendments to “Executory” Contracts

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.

Option or Right of First Refusal?

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.