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...
Commercial property will continue to rebound in 2022
Many assume that the commercial real estate market is dipping amid work from home orders and the challenges of hiring and maintaining staff or closing altogether. However, 2021 was a strong year for commercial property and 2022 looks to build on that success. Reasons...
Common shareholders can exercise rights
The details in a company charter will vary, but publicly traded companies will usually have different ownership levels. For instance, there are three classes of securities: bondholders, preferred stockholders and common stockholders. Each has its benefits, but common...
Employers can lower their risk for wrongful termination suits
Businesses enjoy many benefits through Texas’s use of employment at will policy. This means that (absent of an agreement or statute that outlines terms and conditions of the employment), either the employer or the employee can legally terminate the business...
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...
How adverse possession works
Adverse possession is a legal term describing how someone can gain a legal title over property owned by someone else. Theoretically speaking, a person can trespass on a piece of land and like it so much that they decide to stay. Once they stay, they start to clean it...
Starting a business takes effective planning
Anyone who started their own successful business will talk about its difficulty. There are millions of details to handle, capital to raise, and countless hours of work keeping it all moving in the right direction. While many dream of opening their own shop, creating...
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...
A-B Trusts work for blended families
Looking after your children is one of the most important and challenging jobs for many parents. Perhaps even more so when the parents remarry, bringing children from previous marriages into the family unit. The parents may lean towards trying to share the estate...