A land contract is an agreement between a buyer and seller where the owner provides financing to the seller. In most scenarios, the buyer makes monthly payments to the seller over an agreed upon period of time, and then a balloon payment is paid later to complete the agreed upon amount. The buyer assumes possession, […]
Daniel Ross and Associates is here to help Northeast Ohio business owners manage the legal aspects of their company. Whether you have a new or existing business, having proper contracts in place is essential. Our team is here to ensure your contracts represent your business and cover you from potential risk. Business Contract Basics Get […]
Previously, we introduced alternative dispute resolution and reviewed the approach to mandatory mediation clauses in business contracts. Arbitration is, of course, the other main body of ADR. And like mediation, arbitration can be written into a business contract in hopes of avoiding litigation and streamlining the resolution process. But mandatory arbitration has its own pitfalls […]
Dispute resolution has a favorite son, and despite Americans’ litigious nature, it’s not the courtroom. Alternative Dispute Resolution, or ADR, is a combination of the informal mechanisms of mediation and arbitration which provide an alternative to trial and alleviate much of the burden on the U.S. court system. The already overwhelmed judicial system has thoroughly […]
There are plenty of reasons for “agreeing to agree.” The future is hard to forecast; we don’t want a hang-up to impede a venture in the here-and-now; and a dozen others. I don’t need to tell you that this invites uncertainty into your business relationships. But at what point does an agreement rife with future […]
Each state has its own local laws which control how businesses can operate, how business partners can cooperate, and how disputes over contracts are settled in court. Interestingly, business relations have the ability to choose which state laws they want to govern their venture through a “choice of law” provision in their agreement. This is […]
Vendors and other independent contractors should be covered by Commercial General Liability (CGL) and Professional Liability Insurance (PLI) policies, which protect them against the consequences of accidents, errors and omissions, mistakes, and oversights when providing services to clients like you. If they don’t have this coverage (and, in fact, a solid vendor agreement will require […]
Selling a business is much like selling any other big-ticket item. You wouldn’t sell your house, for example, without appropriate renovations, understanding your property value and the market at large, and assembling the right team to facilitate the sale. The same is true with your business. Advisors Assemble! First off, you’ll need to put the […]
As it turns out, there is some truth to the old cliché that contracts are made to be broken. But not all contracts, and not all the time. The law recognizes that sometimes the ability to cancel a contract works in the public interest: sometimes a consumer buys a good or service in high pressure, […]
Employment at will – the right to terminate a work relationship for any reason or no reason at all – is a state law concept structured to give both businesses and workers flexibility and mobility in the workforce. From an employer’s perspective, employment at will gives great latitude to how businesses manage staff: from seasonal […]
