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If you’re involved in a business dispute right now, you may want more than ever to keep it out of court. The courts are working very slowly at the moment, and it could be some time before they return to normal operations. Even in the best of times, litigation is...
When the first wave of business closures hit this spring, many of the companies involved were already in trouble. Or, their owners were ready to close for other reasons, like a pending sale or retirement. Those that survived have been hurt. Many received crucial help...
If you can’t perform your contract, you may have a defense due to the COVID-19 pandemic. It is possible that you do. In Texas, your duties under a contract are sometimes dischargeable due to “frustration of purpose,” among other defenses. Frustration of purpose is...
You’ve probably heard that arbitration is a good option for businesses dealing with disputes, but you may not know much about it. It is a process much like courtroom litigation, except that it is somewhat less formal in terms of both procedure and rules of evidence....
Unlike traditional mortgages that are secured by the property in question, mezzanine loans are backed up by your business. A foreclosure doesn’t just mean losing the property. It could mean losing a percentage of your business. Unfortunately, mezzanine lenders tend to...
It’s a fair question. When the White House announced a payroll tax holiday, the hope was that it would result in larger paychecks and boost the economy. However, the president doesn’t have the authority to cut payroll taxes on his own, so the tax holiday only suspends...
According to Harvard Business School, 30% to 40% of business startups fail. That means the company liquidates all of its assets and the investors lost much or all of their investment. If you measure failure by whether the company reached its projected return on...
When the coronavirus lockdowns occurred, some businesses thought they had insurance that would cover their losses: a business interruption policy. Unfortunately, the insurers have insisted that pandemics are excluded from most of these policies. Or worse, they refuse...
If you have been served with a breach of contract lawsuit, don’t panic. It may not be fun, but it’s not the end of the world. You may fear that you will be forced to pay money, but there are a lot of steps that take place before you reach that point. Your first step...
These days, every business needs to collect on every debt it can. When it comes to collecting business-to-business debts, you may need all the help you can get. The basic steps in business debt collection include 1) demanding payment, 2) getting a lien and 3)...