Jun 16, 2020
Pay-if-paid vs. Pay-when-paid in Construction Contracts
What every subcontractor really needs to understand. One little word in a contract can make a big difference. Take for example the word “if” and the word “when”. If you...
contracts
May 27, 2020
Understanding Contracts: How do Security Interests work?
Last Updated: No update. New article. Contracts are at the heart of business. At their simplest, contracts are the formalized agreement between two (or more) parties spelling out what each...
Apr 21, 2020
What is Fair Pay for Work Done?
Suppose you have a small manufacturing shop. A customer you have made parts for in the past calls and says he has an emergency. He asks that you manufacture, right...
Apr 9, 2020
Consideration in Contracts
We all know that business deals involve careful consideration of company finances, risk, and potential gain. But the contracts underlying those deals involve another form of consideration—something that demonstrates each...
Mar 20, 2020
Using a Force Majeure Clause to Re-Negotiate with Vendors and Landlords in Light of the COVID-19 Pandemic?
In today’s COVID-19 environment, businesses are being told to close their doors and send employees homes. As such, many business owners are struggling to earn enough revenue to be able...
Feb 19, 2020
Beware of Real Estate Contracts
Although more common on the residential side, business owners sometimes sign real estate contracts instead of mortgages as a way to get into the property fast. Real estate contracts may...
Nov 15, 2019
How To: Personal Asset Protection
Personal asset protection is an important idea, especially when you own, manage or lead a business in today’s litigious society. Unfortunately, no one thing can protect you or your business...
Oct 21, 2019
Liquidated Damages in a Credit Card Processing Agreement
Law 4 Small Business is pleased to feature our guest blog writer, Gingergaye Hollowell. The Most Costly of Termination Fees Period! When you choose a credit card processor, you will...
Sep 5, 2019
The Liquidated Damages Clause
When, as a first-year law student, I learned about liquidated damages clauses in my contracts class, I thought they sounded like a magical tool that would prevent anyone from ever...
Jan 17, 2019
Contract Tip: What is a Counterpart Clause?
Boilerplate contract terms are often overlooked, and in some cases, this can be dangerous. A counterpart clause is one such often overlooked contract term. While I would hesitate to classify...
Dec 18, 2018
Contract Tip: What is an Assignment Clause?
Let’s say that you are planning your wedding reception and you contracted with a particular ice sculptor because of his demonstrated ability to sculpt intricate, life-size ice replicas of the...
Oct 13, 2018
Contract Tip: Why Governing Law and Jurisdiction is Important
Let’s suppose you have a small consulting business. Given the power of the Internet, you can be located in New Mexico, have a partner in California and a client in...