Countless individuals entered into contracts at some point before COVID-19 hit and now aren’t sure how they’re going to meet all of their obligations. Others are unsure how to fulfill contractual obligations that they would have had no problem fulfilling the terms of had the current situation not hit. When faced with potential lockdowns and...
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(CARES Act Provisions as of March 26, 2020) In the early hours of the morning on Thursday, March 26, 2020, the United States Senate passed the highly anticipated (and updated) Economic Relief Plan (CARES Act), building upon the earlier versions of the CARES Act. It is a third round of federal government support in wake...
Loan amounts will be up to $2.0 million for a business applicant and all its affiliates They will use credit scores in their decisions for approval Rates for businesses will be 3.75% fixed for 30 years All loans will have a repayment term of 30 years – payments can be deferred for the first 12...
I’m Veronica. I am the Chair of the Litigation Department at Trembly Law Firm. I’ve been a litigator since 2012. I am a mother to a energetic and rambunctious 3 year old boy named Leon. My husband works as a producer of a morning radio show that starts at 6am. I am tired. I was tired...
In private enterprise, a memorandum of understanding (MoU) is a formal document between two (bilateral) or more (multilateral) parties that outlines general agreements related to future formal negotiations. It is not legally binding, yet is commonly thought of as a stepping stone to a contract that is legally binding. In addition to private enterprise, this...
Franchise businesses, like many of the large corporations that operate your favorite fast-food chains, are always looking for more efficient ways to open new locations to expand their reach and, ultimately, increase profits. One way franchisors might go about that is to pursue a conversion franchise. Conversion franchising involves an existing business either getting into...
When incorporating, one of the major decisions you will be making is related to how you will finance your business venture. You have two major options: debt financing and equity ownership. The latter is easy to understand; the value of the business entity is calculated and investors are invited to take equity stakes in order...
The contract has been signed, the money has been sent, and, most importantly, the keys and the customer list have been handed over to you. You’re in business, right? Not necessarily. If you buy a business, it is very possible that you are buying not only the assets but the liabilities of the business as...