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People often assume that a contract only involves the parties who sign it, but others’ fortunes may also flourish or suffer from the execution of the contract. These outside entities are called third-party beneficiaries, and they could have the right to share in the...
The pandemic has upended practically every part of the economy. For example, there are supply chain woes, staff turnover, shutdowns, business closings, business re-openings, economic downturns, and inflation. One or a combination of these factors makes it impossible...
When a business partnership comes to an end, the situation can resolve in numerous ways. The partners could sell the business, split the profits and move on to separate endeavors. Most often, however, one partner ventures out, leaving others in charge of the...
The FHA is a federal law that protects buyers and renters from a wide range of discrimination. This law applies to a majority of houses, apartments and other forms of housing, but there are exceptions, including some owner-occupied buildings, religious organizations...
As you get started with your new business, you may have a certain sense of invincibility. While the stakes are high if you do not make it, while your business is small, you may get the feeling that you are too small to face legal action. You may not have the deep...
Internal disputes are a fact of life in business. This is due to differing priorities, not meeting expectations, misunderstandings, or other issues. Ideally, partners or colleagues can sit down and work through a problem without impacting the company, but shareholder...
Many assume that the pandemic left the commercial real estate market dead in the water. It prompted employees to work remotely and businesses to shut down or struggle during the economic downturn. Those early days of the pandemic are long gone, with people now...
Many small businesses or family-owned companies are organized as equal partnerships. This essentially gives each partner an equal share in the decision-making process. Any action taken by the organization must result from a consensus or a compromise reached by the...
Adverse possession is a legal term that refers to someone taking possession of land or a building that they do not have the legal title for. If this goes on long enough, they take adverse possession of the property, which means they legally own it. The trespasser can...
It is normal for even the most stable business to undergo personnel changes. This can even include the ownership as partners retire, pass away, pursue other interests, divorce, or file bankruptcy. Business owners or entrepreneurs can plan for these changes by...