Protect your ability to enforce payment After several years of an overheated construction market, signs of slowing are starting to appear. Interest rates have jumped. Housing starts are down. Major homebuilders report cooling of revenues or dropping earnings.
Although banks are traditionally the place where small businesses go in search of financing or help in maintaining cash flow, according to an article in Associated Content, some small businesses are seeking out alternative sources of funding and advice. One such alternative source is an account rec
NEW ORLEAN'S controversial emergency ordinance allowing owners of residential properties to waive city electrical inspections expired July 31, but three days later the city council voted to extend the measure until Dec. 31, 2006.
Two recent cases highlight the harm caused by “no damages for delay” clauses. Both are well-reasoned decisions from Maryland that survey the law from many states. As such, they are worth knowing, particularly because the uncompensated delays were outrageous.
There’s an old Lefty Frizzel song with the lyrics: “If you can’t keep your promises, please don’t make them, my dear.” Lefty probably did not know it, but that song sums up the Spearin Doctrine in construction contracts.
Written contract forms grow by mistakes. Contracting parties, particularly owners and architects, discover that some issue or dispute was not covered to their satisfaction. The next draft of the contract is supposed to take care of that perceived gap.
“The general contractor may at any time, without invalidating the contract, by written instructions, direct the subcontractor to make changes, additions or deletions to the work. Subcontractor shall promptly proceed with such instruction.
Civil litigation, whether involving personal injury or contracts, has one set of rules of “discovery.” Discovery means that the other side is permitted to find and (discover) all information you have concerning the disputes in the lawsuit.
This unfortunate circumstance occurs every day: A company, concerned about mounting claims and litigation against it, decides to get rid of its assets by conveying them to the company owners, shareholders and others.
In a typical old-time cowboy movie, there is always a scene where the bad guy says something like, “Give me the deed to your ranch or I'll shoot you.” Without question, the rancher's signature would be obtained by duress and the transaction would be void.
In last month’s column, we outlined the procedure for establishing a risk management plan, a checklist of ways to prevent employee-related losses and the conditions favorable for fraud to occur. Internal crimes tend to follow common patterns.
One droll definition of an expert is any person who lives at least 500 miles away. The Federal Rules of Evidence are a little more expansive. Rule 702 provides that an expert witness is: “a witness qualified as an expert by knowledge, skill, experience, training, or education ...