Archive for the ‘Contracts’ Category

Running a Business is an Ongoing Process

I was reading a bulletin from the FTC, which just closed an investigation on whether certain Verizon data security practices constituted unfair trade practices. The closing letter in part reads: “We continue to emphasize that data security is an ongoing process. As risks, technologies, and circumstances change over time, companies must adjust security practices accordingly. [...]

 

What “Magic Language” Should My Contract Have?

There is very little required by law to make a contract enforceable.  Some types of contracts are required to be in writing, such as anything to do with land, contracts for goods worth $500 or more, and contracts for services that cannot be performed in a year. Otherwise, valid contracts should include the names of [...]

 

Anatomy of a Commercial Real Estate Purchase

Once you have selected a property and have some idea of a fair price and market conditions, it is time for the real estate attorney to be involved. There are many protections for consumers purchasing real estate, but hardly any in the commercial arena, so it is important to have a trusted adviser to protect [...]

 

Can You Define “Total Heating Bill”? Or is Your Contract Ambiguous and Unenforceable?

We previously discussed in broad terms that a valid and enforceable contract must have offer and acceptance, mutual exchange of something of value and definitive terms.  But what does it mean for a term to be “definitive”?

 

Be Up to Speed on Enforceable Contracts

In August 2007, Charlotte Motor Speedway and Speedway Motor Sports announced their intent to build a hot rod dragway next to the speedway. The City of Concord responded by changing its zoning laws to prevent the dragway. The Speedway owners threatened to leave Cabarrus County, and Concord repealed the zoning changes.

 

Tenants Beware on Commercial Leases

Commercial leases can be dozens of pages long.  It’s easy to miss something critical — such as who’s responsible for HVAC repairs or what the tenant can or cannot do in the space.  While there are many consumer protections for a residential lease, the commercial lease is largely unregulated.  Be an informed and prepared tenant.