When I purchased my home, my neighbor’s hot tub was situated on my property line. I went ahead and closed on the purchase of my home (20 years ago) with the hot tub sitting on my property and forgot about it. I am now concerned that when the time comes that I want to sell my house, or my neighbor …
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 …
Terminating Leases Early
Common questions that arise when clients inherit or purchase rental properties/commercial real estate often center around the leases associated with the property. I came across one such question the other day that had to do with a client who had inherited an apartment complex and wanted to terminate the leases as quickly as possible in order to sell the property …
What is Trademark Infringement?
A trademark is any word, design, symbol or phrase, that identifies the source of a particular product or service. For example, “Apple Computer” doesn’t indicate a computer generally. It indicates a computer produced by Apple Computer Corporation. The golden arches in front of a McDonald’s Restaurant doesn’t indicate “hamburgers,” but hamburgers produced by McDonald’s Corporation. Many business owners get confused …
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 …
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 …
