Many family businesses here in Texas go back several generations with lasting legacies. However, the current caretakers of the ranch, store, restaurant or business need to adapt and grow to keep the lights on and prepare to pass it along to the next generation....
Who are third-party beneficiaries?
People assume that contracts are only between two parties, but others may benefit or suffer from a contract's performance. These are known as third-party beneficiaries, and they may have legal rights to enforce an agreement or share in the proceeds. They have this...
How courts may resolve a breach of contract
Contracts are the cornerstone of every binding business agreement. These agreements help to outline costs, deadlines, deliverables and other details. These commitments allow the business to move forward and commit to other contracts for generating income and providing...
Force majeure: an old concept for present-day issues
The pandemic has impacted businesses in many ways. There are supply chain issues that can prevent regular operation. There are challenges in finding new hires to replace departing staff. There are economic downturns and inflation. These are all common reasons for not...
Texas overhauls mechanic’s liens
Subcontractors, suppliers and design professionals build or improve interior or exterior spaces for commercial use. These are complex jobs that involve business agreements, schedules, and hard work, so the businesses involved deserve to get paid for their effort. Even...
Did someone violate their fiduciary duty?
Someone's fiduciary duty is as wide-ranging as their job description. Nevertheless, violating that duty can lead to severe consequences. Generally, it involves a legal or financial situation where an individual or business has a professional obligation to support the...
Litigation may be the best option for dispute resolution
Individuals and businesses are often advised to pursue arbitration or mediation to resolve a conflict with a business partner. The reasons usually given include the cost of litigation, how long it takes to get a court date and the risk of losing. These are three valid...
Business-to-business dispute? What remedies are available?
The pandemic has brought a lot of business disputes forward, if not always in a way we expected. The latest group of disputes involve supply chain problems, which are occurring in many sectors at once. NPR recently interviewed a factory operator in Illinois who makes...
Should your company require customers to arbitrate disputes?
Nobody likes going to court. It’s often costly and time-consuming, and the outcome is never guaranteed. When parties can’t agree on a resolution, many organizations rely on arbitration. In fact, many companies’ contracts specify that all disputes must be resolved in...
Has a dispute arisen due to supply chain problems?
Blame the sudden uptick in consumer demand during the pandemic. Blame “just in time delivery.” Call it the “bullwhip effect” – a small flick of the wrist creates a large amount of movement on the other end. Supply chains are off, and that’s creating havoc throughout...