In many litigation cases, the question is not, “was there a breach”, but rather “what are my damages.” As smart business people, the decision must always be what is my likelihood of success combined with my likely award. Unfortunately, there are many times when one party is as right as rain, but if the damages [...]
Posts Tagged ‘Contract Law’
Karma applies in Contracts as well- Fraudulant Contracts will not be upheld
The Wisconsin Law Journal brought a recent case to my attention about a man who wrote up a contract with his brother to try and cheat his now ex-wife out of some of the family assets.
The terms of the contract were that Stanley, who was thinking of getting divorced, transferred 20 acres of land [...]
Be Careful When Granting the Power to Terminate a Contract Early
It seems quite often you see contracts that contain provisions similar to the following:
Either party may cancel this contract at any time by giving the other party 60 days written notice.
This always sounds like a good idea when you discuss it. Basically it is the back-out provision, if things are going badly, you can [...]
The Benefits of a Joint Venture
There are many situations where two existing businesses, or two just starting entrepreneurs want to jointly take on an endeavor, but do not want to be so tied to each other as to be the same entity. This is where a joint venture can come in handy. It creates a legally binding relationship, and if [...]
Can I just keep the earnest money if a buyer backs out? (A recent Wisconsin Appellate Court decision gives us pause)
In an opinion that was issued last week the Wisconsin Appellate Court upheld a circuit court decision in which the plaintiff’s were not able to sue for actual damages in a failed residential real estate transaction because they did not return the earnest money to the buyer. The court ruled that they irrevocably elected liquidated [...]
Where is the real value? In the Company or the Employees?
Often, when a company is looking to acquire another business, it looks at all of its gleaming equipment and its wonderful balance sheet as the reason to purchase the company, but in reality all of that success is probably more tied to the employees that work there then the systems or equipment associated with the [...]
Why does legal language need to be so complicated?
This is a question that is frequently asked, or thought of, even if it is not verbalized, by my clients. The lawyerly answer is because language is an imperfect medium to describe complex thoughts, ideas, and meanings. There are vagaries to every word, and every sentence written. However, a better way to explain it may [...]
Why Employee Stock Ownership Plans (ESOPs) Are Not Just for Big Companies in Wisconsin
What is an ESOP? An ESOP is exactly what it sounds like, an Employee Stock Ownership Plan, the employees literally hold the stock to the company. The better questions are how do you go about implementing an ESOP? and what are the benefits? While a small percentage of ESOPs (which get most of the news [...]
The Problem with On-Line Form Contracts
If you are looking to start a business in Milwaukee, Wisconsin, or already own a business in the Wauwatosa or Milwaukee area, you might think, “I can save some money on using contracts and business formation services from an on-line website.” And this is true, you will certainly get a cheap alternative. Of course, as [...]
What if there was no written Contract?
This is an issue that comes up quite often in my Business Litigation Practice. When two businesses, especially small businesses, first get together they are excited to have the service/ a new client and other than maybe a written a proposal have nothing in writing setting out the terms of the agreement.
If everything does not [...]
