When it comes to real estate, lease to own agreements sound like a great idea when you may not have a large down payment available, or you are unable to secure a mortgage. Oftentimes, you anticipate the ability to come up with a large down payment down the line, but you want to purchase a property now. If that’s the …
Promissory Notes
Promissory notes can be helpful in so many different situations, but what exactly are they and what do you need to look our for when dealing with them? In it’s simplest terms, a promissory note is an IOU. It includes the terms of the agreement, specifically the amount owed, how and when it is to be repaid, and default terms. If you’ve ever …
Contract Tip: Understanding the Offer
Contract law can be a confusing mess, especially for busy business leaders. It pays, however, to know some of the basics of contract law in running a business. Such basic knowledge will help avoid potential liability or disaster down the road. If you don’t already know what a contract is, it is a “bargained for exchange of value” between two …
Are Non-Compete Agreements Enforceable in New Mexico
The quick answer is “yes,” provided they are “reasonable” and provided they do not restrict certain professions that are statutorily protected. It can be difficult for a business to gain a competitive advantage over their competition. Many successful companies rely on trade secrets to create a product or service that is better for consumers than a competitor’s, but if an …
Misrepresentation in Legal Contracts
Misrepresentation in a legal contract occurs when one party involved in the agreement knowingly or willingly entered into the contract asserting a fact that is not true.
Acting In Good Faith
What it Means for your Business When conducting business dealings and entering into contracts, you expect that the people that you are dealing with will be honest and sincere in their intentions to uphold your agreements. Similar to a breach of contract, when a business or person does not honor their end of the deal, but also misleads the parties …
Breach of Contract: What Happens Next?
When you enter into a business contract, you expect to hold up your end of the deal and expect the other party to honor their part, as well. When something goes wrong and the other party isn’t holding up their end of the deal, they have committed a breach of contract. So, what can you do against a business or party …
What Restrictions are there to Offering Ownership Interests to Investors?
In the business world, most ventures are formed with the idea that those involved have a personal investment in the company they formed. Each founder has put some sort of equity into the business, whether it is through funding, labor or intellectual property.
What is a Non Disclosure Agreement?
In the everyday operations of your business, many of your employees are exposed to sensitive information about your company and your clients. This information is vital to the day-to-day operations of your business. If lost or misused, the information might cause problems for your business.
Federal Courts Should Use State Law to Interpret a Contract’s Venue or Forum Selection Clause
Most circuits have not decided this issue. Those that have addressed it typically recognize that no reason exists to treat a venue selection clause differently from the remainder of a contract that will be interpreted using state law. See, e.g., Northwest Nat. Ins. Co. v. Donovan, 916 F.2d 372, 374 (7th Cir. 1994) (“Validity and interpretation are separate issues, and …
