Monthly Archives: August 2015

Business Interruption Insurance: Think you don’t need it? Think again!

There are several different types of insurance that business owners should have. One of the increasingly popular types of coverage is business interruption insurance- sometimes known as business income insurance. Some owners neglect to obtain this type of policy because of cost, while other owners may think the property or casualty insurance coverage they maintain

The Verbal Agreement: It can work…until it doesn’t!

“I’m too busy to have an agreement done in writing!” “I trust him.” “They won’t agree to that term in writing!” These are just a few, but we have heard all the reasons in the world for why people have decided to seal a deal with a good old fashion handshake or conversation. And while

A Cautionary Tale: The Letter of Intent

The letter of intent (LOI) has become increasingly popular in the last several years. LOIs are generally used to confirm expectations concerning key elements of a proposed “deal” or transaction. They are used in a variety of different business transactions, including lease agreements, purchase agreements and more. And while they are not used in all

Court enforces settlement agreement that client swears he didn’t authorize!

Check out this interesting Michigan Court of Appeals case where the court enforced a settlement agreement reached between a construction company and the estate of its former client. GTS Construction Company contracted with Juanita Dansby and her son to repair damage to her home. At the time of Dansby’s death, an unpaid balance remained on