Where your business has open accounts with customers, it is important that any attempts at collecting payment be made timely. Although the normal rule allows breach of contract actions to be commenced within six years, where the breach of contract on an open account is based on the sale of goods, it must filed within [...]
In a recent decision handed down by the Michigan Supreme Court, Miller-Davis Co. v. Ahrens Construction, Inc., the court ruled that Michigan’s six-year statute of limitations for breach of contract, MCL 600.5807(8), applied to breach of contract claims against contractors, architects, or engineers for improvements to property. In doing so, the Supreme Court rejected the [...]
In the previous installment of this two part series, we discussed the concept of unjust enrichment and under what circumstances it can be raised. Unjust enrichment is not available where an express contract exists. In Premer, the Michigan Court of Appeals confirmed how to properly state a claim for unjust enrichment. In order to state [...]
In this two part series we will discuss the contract remedy of unjust enrichment. This first installment will explain the basic concept of unjust enrichment. Part two will discuss how to plead and calculate unjust enrichment. For those not familiar the intricacies of the legal world, legal jargon may seem like a foreign language (and [...]
Many contracts have default provisions. These provisions set forth what actions or inaction must occur for a party to default under the Agreement and for the non-defaulting party to be entitled to recover damages and/or terminate that particular Agreement. In some circumstances, and often in the context of a loan, parties may enter into multiple [...]
Contrary to popular belief, employers are not obligated to provide severance pay upon an employee’s termination of employment due to a layoff. If an employer does choose to provide severance pay, it should be accompanied by a severance agreement. The most important provisions in a severance agreement are those regarding payment, non-competition, and the release [...]
Sometimes it’s easier to agree to something verbally, rather than put the agreement in writing. This is not usually a good business practice, however, because many problems can arise from verbal agreements. These problems include disputes over the terms of the contract, but also disputes over whether the contract itself is enforceable. Some oral contracts [...]
In a previous article we had examined the fact that the Michigan Court of Appeals affirmed the common law principle that contract provisions that shorten the statutory period for bringing a cause of action are allowable. Recently, the Court applied similar reasoning in affirming the principle that a contract can even limit the amount of [...]
If you are purchasing a Michigan business, then you need to be aware of Section 22 of the Michigan Employment Securing Act. If you are not aware of how Section 22 can affect you transaction, please read the article “SUCCESSION TO MICHIGAN UNEMPLOYMENT TAX EXPERIENCE ACCOUNT OF PURCHASED MICHIGAN BUSINESS” by Steve Dunn. Click here [...]
If you’re looking to buy a business, there is a lot to know before you actually make an offer. This is especially true if you’re looking to buy a business that owns a liquor license, such as a bar or restaurant. Once you’ve found the bar that you want to buy, the first step is [...]
If you enjoyed the post, make sure you subscribe to the RSS feed.
© 2012
Powered by WordPress. Design by 