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Are Handshake Deals Enforceable?

In Business Tips, Contract Disputes, Contracts, Dispute Resolution by Don KochersbergerLeave a Comment

There is a common misperception that written contracts are required for any agreement to be enforceable.  While it is almost always preferable to have a written contract, hopefully crafted by an attorney with an understanding of the issues related to the specific type of agreement contemplated, all is not necessarily lost if you do not. There are some types of …

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Why DWI Convictions Are Not Eligible For Expungement in New Mexico

In Expungement of a Criminal Record, White Collar Criminal Defense by Larry DonahueLeave a Comment

The intent within the new expungement law in New Mexico is to “serve justice”.  Justice is not served by erasing the criminal record of serious criminals or those who may be likely to re-offend.  Alternatively, it also doesn’t serve justice that those who have made a mistake, taken responsibility for it and have avoided trouble since, continue to suffer a …

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Can You Simply Transfer Your Ownership in A Business to Someone Else?

In Business Transactions, Contracts, Partnerships by Carrie CookLeave a Comment

You have ownership in a business, but you don’t want to be involved in the business anymore.  Or, maybe you want to assign the distributions you receive from an LLC to payoff a debt.  Can’t you simply just transfer your ownership to someone else without having to go through a lengthy, legal process? Time to check your Operating Agreement As …

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Do I Really Need to Buy “Extra” Title Insurance for Commercial Real Estate Purchases?

In Business Transactions, Startups by Ross PerkalLeave a Comment

The four most popular “Extra Coverage” options in Title Insurance are: Rights of parties in possession (this exception would include, for example, the rights of a tenant with an unexpired lease term) Encroachments, boundary issues, and other matters that an accurate survey would disclose any easements not shown by the public records, and Construction and worker’s compensation liens If you …

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What To Do When “Equal Participation” Equals Deadlock

In Contracts by Joseph TurnerLeave a Comment

Absent language to the contrary in an Operating Agreement, “equal participation” means all partners have equal rights and authority to participate in the management of the business. This means each partner has one equal vote when it comes to decision making. Obviously, this can get tricky when you have an equal number of partners. So, what do you do when …

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PTO in New Mexico

In Business Tips, Employment Law by Vanesa LewingerLeave a Comment

Do you think that because your employee handbook specifically states that if your employee quits, they forfeit unused vacation time?  Well, in New Mexico, depending on how you award your employees their time off, you could be wrong. What is an Administrative Code? The New Mexico Administrative Code states that vacation pay and other forms of pay for time that …

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“Garden Clause” vs. a Non-Compete

In Contracts, Non-Compete Agreements by Jake GoldsmithLeave a Comment

A garden clause and a non-compete clause can both be valuable tools for a company, and they are somewhat similar, so they are sometimes confused. Both clauses concern an employee who is leaving the company, but there are some fundamental differences between the two. What is a Garden Clause? A garden clause typically provides for a notice period for termination …