The pre-contract period, when the parties negotiate contract terms and may share information is the important first stage in a real estate transaction.
Read MoreBusiness relationships sometimes need “divorces.” This may occur for several reasons. There can be misconduct by a partner or a falling out among partners. Other times, an owner may want to retire, or the business model may no longer make sense.
Read More“One size fits all” doesn’t apply to musical endings, and it doesn't apply to deeds either. Several types of deeds may be used to convey real estate.
Read MoreIt’s understandable how someone might leave a shopping bag or a small item like keys or a wallet in a taxi. However, in 2008, violinist Phillip Quint left his multi-million dollar Stradivari in a New York City taxi. The taxi driver discovered the instrument and returned it. Like musicians, business owners sometimes forget important tasks relating to their business entities. Although some forgotten tasks may be correctable, others are not. By forgetting to pay attention to their business entities, an owner can lose it forever.
Read MoreOur son is the fourth generation to play a violin made in the early 20th century by Prague luthier Janek (John) Juzek. When researching Juzek’s history, I found it interesting to read that he backdated the labels in his instruments. They included his own name but a completion date about five years earlier than the actual date the instrument was completed. Backdating violin labels was not uncommon, and it was not illegal. However, backdating legal documents is another matter. Backdating legal documents is frequently permissible. However, under other circumstances, it can be fraudulent or illegal.
Read MoreJohann Sebastian Bach served in the courts of the nobility and for the church in Leipzig. He wrote his music to meet the needs of those who hired him. Little of his music was published during his lifetime, and he likely had little expectation that his music would survive him. Unlike Bach, most business owners expect that their businesses will survive them. Careful business succession planning can make the difference between a business becoming multi-generational family operation and failing after becoming mired in in-fighting or disputes among heirs.
Read MoreOn June 21, 1893, at the World’s Columbian Exposition in Chicago, more than 2,000 people gathered for the opening of the world’s largest Ferris Wheel. After George Washington Gale Ferris, Jr., designer of the wheel, and other dignitaries gave speeches, and the fifty-piece Iowa State Band played patriotic tunes, the wheel was started for the first time, belying the background story.
Read MoreRecently, a Canadian Court awarded aspiring professional clarinetist Eric Abramovitz a six-figure judgment in an identity theft lawsuit he brought against his ex-girlfriend, after she accessed his e-mail and turned down a coveted scholarship on his behalf. While much of the recent news has been dominated by tales of sophisticated cyber attacks, this anecdote shows that low-tech approaches can be just as damaging. A good data protection plan will evaluate risks specific to the business and establish protocols designed to minimize data compromise and loss, including loss from human error and environmental factors.
Read MoreHuguette Clark died at the age of 104 in a hospital under a pseudonym, divorced, childless, and a recluse, belying her background. Three years after her death. While cleaning out a closet in one of Huguette’s New York City apartments, someone found a violin bearing the Stradivari label tucked away, untouched for more than 25 years. Reading about Huguette and the one-in-a-million real Strad, I recalled a recent experience in my own life. I received a telephone message no one wants–my bank manager was calling. She said it was important and I should call her as soon as possible.
Read MoreIt has been almost half of a century since I first picked up a violin. Yet, I recently started violin lessons again. I realized that I needed to adjust my basic technique–including how I hold the violin. Like small changes in violin technique can create noticeable changes in a performance, overlooked contract provisions can change the meaning of the contract or harm the contracting parties. This article is one of several discussing contract “boilerplate” provisions and why those provisions are important. In this article, we will explore severability clauses.
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