Your Guide To A New Credit Card

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It's a familiar sight: you open your mailbox and see a bunch of envelopes... and half of them turn out to be credit card offers. Your email inbox often looks the same. Credit cards can be a great way of building or rebuilding credit, but it's important to understand the terms and conditions that come along with accepting offers of new lines of credit. Your attorney through our Legal Protection Subscription Plans for Individuals & Families can help you understand the legal language in these agreements and contracts, protecting you and your money before you ever sign on the dotted line. Learn more about our Legal Subscription Plans and read on for a few tips regarding new credit cards.

A "Low Interest Rate" offer is a familiar hook that credit card companies use to lure in new customers, but it is important to understand the terms of the offer. Low interest rates are often billed as "introductory," meaning that they end after a period of time and the interest rate will go up (in some cases, dramatically) when that period ends. This can lock you into high payments that you may not be able to afford. Make sure you understand what the interest rates will be during the introductory period and what they will be when they expire as this will have an enormous impact on your ability to repay.

Another interest rate-related item is that there may be different interest rates depending on the type of transaction. For example, cash advances often carry much higher interest rates than consumer spending, While this information is included with your agreement when you sign up, it is often in fine print and is sometimes worded to be deliberately confusing. An attorney will be able to look over the agreement and tell you what the contract states the interest rates will be for various types of transactions.

A missing or late payment can void the low introductory interest rate and incur additional fees. Knowing when payments are due is critical, and, if you choose to pay by mail, make sure that you have allowed for ample time for the payment to be delivered, sorted, and applied to your account before the due date. Electronic and automatic payments can alleviate this problem.

How you pay can also add fees. This is information that is likely buried in the fine print of your agreement, but some payment methods actually incur processing fees, most commonly when making payments via telephone. Make sure that you know which payment methods have an additional fee attached to avoid them.

Exceeding your credit limit can also have major consequences. Many people think that if you try to spend more on your credit card than the credit limit you have allows that the transaction won't go through, but this is often not the case. Some credit card companies allow you exceed your credit limit so that they can charge you substantial fees when it happens. These fees and penalties add up quickly and make your debt much larger than your credit limit.

In fact, using credit cards can have all kinds of fees. In addition to late fees, payment method fees, overcharge fees, and administration fees, you can also be charged for using ATMs, balance transfers, and more, including an annual fee just for having the card.

Credit card companies know that virtually no one actually reads the fine print in the cardholder agreements, but all of this information is there. When people do read it, it is often written in such a way as to be difficult to understand (in legalese, so to speak)and printed in nearly unreadable font sizes. Credit card agreements are generally available to print from the credit card company's web site, and you can alter the font size to make it more readable. it is very important to your finances that you take the time to read and understand what you are agreeing to when you accept a credit card offer. Your rights and responsibilities are laid out in these documents, but credit card companies don't make it terribly easy for you.

If you are interested in getting a new credit card but have difficulty reading the fine print and need help understanding what it means for you and your money, your attorney through our Legal Protection Subscription Plans for Individuals & Families will be able to help by going over agreements and contracts from credit card companies, contractors, utilities, and other services before you sign so you know exactly what you're agreeing to. It's just one of the hundreds of benefits available to you for just one low, monthly fee through our Legal Protection Plans. Learn more about all the benefits of membership or sign up today!

Your Finances This Holiday Season

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According to a recent poll, more shoppers are paying for holiday purchases with credit, and of those, more than 50% couldn't pay off those purchases. Overspending is nothing new during the holiday shopping season, but with recent inflation and other economic downturns, how can you take control of your holiday spending? If you ever have questions about consumer finance issues - from agreements for store credit or memberships to credit card fraud or identity theft - your attorney through our Legal Protection Plans for Individuals & Families can give you advice for your specific situation, read through agreements and contracts, and help you if you become a victim of identity theft, fraud, or other consumer finance legal issues. Learn more about the benefits of membership and read on for a few spending tips this holiday season.

Set A Budget

Plan your budget by setting a realistic limit and sticking to it. Make a list of everyone you want to get a gift for and make a plan for what you want to spend overall and for each person or event. Discuss spending limits for gifts with friends, family, and co-workers, if needed.

Thoughtful Gifts Vs. Expensive Gifts

Not every gift needs to be expensive to show someone you care. Creative, thoughtful gifts are often more special than pricey presents. Think about the things that those on your gift list are into, and look into customized, simple gifts, like a customized apron for the baker in your life.

Coupons & Sales

There are more - and sometimes better - options than shopping on Black Friday or Cyber Monday. Keeping your eyes peeled for December sales events outside of the big sales days sometimes gets you even better deals!

Make A Shopping List

Create a list with everything you plan to buy for the holiday season and what you will spend on those items, and then stick to it. While you're out shopping, try not to get distracted by the holiday displays... they're put there precisely for that reason: to distract you and get you to buy things you don't need on impulse.

Baked Goods & Cards

While we want to buy a gift for everyone in our lives, sometimes, a great way to do that and stay in budget is to make goodie bags with cookies and other treats for co-workers and others, and a heartfelt card is also a good choice to spread holiday cheer.

Sometimes Last Minute Shopping Works

While we try to get everything done for the holidays well in advance, sometimes good deals can be had by waiting until closer to the holiday before we buy. Certain holiday items will almost certainly go on sale as the holiday nears - wrapping supplies and candy are two examples of this - and, those after holiday clearance sales can get you a major jump for next year without breaking the bank.

The old saying goes, it's the thought that counts, and we are all watching our budgets this year. If you find yourself needing advice about debt, your provider attorney through our Legal Protection Plans for Individuals & Families can give you advice and answer questions about credit card debt, bankruptcy, store membership agreements, credit accounts, and more consumer finance topics, all for one low, monthly subscription fee. Learn more about all the benefits of membership or sign up now!

Fighting & Removing A Lien on Your Property

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When you hire a contractor to work on your property and they don't do the work, it's reasonable to not want to pay them. But some contractors use what is known as a mechanic's lien to try to force you pay. At this point, problems are starting to add up: your house still needs the work done and now there's a lien on it. A lien can make your house difficult or impossible to sell, your ability to get a loan will be reduced, and it can damage your credit score. So what do you do? How do you get a lien removed from your property? Your attorney through our Legal Protection Subscription Plans will be able to walk you through the process in your state for your specific situation at no additional cost, so learn more about all the benefits of membership and read on for more information about getting a lien removed from your property.

A lien is a security interest that is attached to a property to ensure payment. Liens must be satisfied before you can typically sell your house. Contractors and other workers are not the only people who can put a lien on your house; liens can also be obtained through court judgments, and these typically come from the IRS, a former spouse or business partner, a state government, and other types of creditors.

A real estate lawyer is going to be your biggest asset when it comes to disputing a lien. The first thing is to file what is known as a "preliminary objection" with the court. Your attorney will be able to help you with this. This court filing will detail the reasons you believe the lien to be improper, and can include reasons such work not being done, lien filing outside of the permitted time constraints, improper licenses or registration, among others. These are all reasons that the lien may be found by the court to be unenforceable. Different states allow for different types of objections, and your lawyer will be able to give you advice.

Sometimes, it is best to negotiate with the person who filed the lien, even if you believe that it is money that you should not have to pay. If you are in a time crunch, though, sometimes negotiation can get the lien removed quickly and for less money than the lien holder is asking for. Sometimes, the lien holder of a mechanic's lien will offer to do additional work for the full price, as well.

Another option if you need the lien settled quickly is to obtain a lien bond. Also called "bonding off," this means that you get a bond from an insurance company that covers the amount of the lien. These kinds of bonds are called "surety bonds" or “lien discharge bonds," and they work by an insurance company assuring the county clerk that you are able to pay the lien if the courts decide that you have to, and the lien will be legally attached to the bond rather than your property. This should be considered an option only if you are in a hurry to refinance or sell your house; typically, negotiation with the lien holder is a better option, and a court decision is another avenue.

Filing a suit to vacate the lien is the most aggressive choice to fight a lien, and you will need an attorney familiar with real estate, liens, and the laws in your state. The lawsuit will force the lien holder to explain why you owe them money and give you the opportunity to explain why you don't. In an example of the poor, unfinished, or shoddy remodel, you will be allowed to show evidence that the contractor did not complete the work to the scope of the contract or agreement and provide evidence of that fact. If you win, the lien will be removed from your property and you may even be awarded damages. As with all lawsuits, the outcome is unpredictable, and the process can be expensive and time consuming. Whether it is worth it to you and your specific situation to pursue a lawsuit is a question for your attorney.

If you have questions or need advice about getting a lien removed from your property, the lawyers in our network of law firms across the US, Canada, and UK can make the process affordable. For just $29.95 per month, you can have access to legal advice from experienced, dedicated attorneys for all of your legal questions, from liens and real estate to consumer finance, to contracts and agreements, to estate planning and more. Learn more about all the benefits of membership in our Legal Protection Subscription Plans for Individuals & Families or sign up today!

How To Write A Small Business Operating Agreement

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An operating agreement is an important document that details how your business is to be run and managed, clearly stating the rules and regulations by which your business will be run. It includes the rights of partners, outside contractors, and more. While writing an operating agreement should be fairly straightforward, there are a few items that should be included that will make your business operate more smoothly. If you need help drafting an operating agreement, our small business consulting services could be right for you. Set up an appointment today to talk about your small business goals and read on for a few tips about writing an Operations Agreement.

Ownership Parameters

If your business has partners or a board, your Operating Agreement should include the names and titles of everyone involved, as well as each person's ownership percentages. In order to properly determine benefits, responsibilities, profits, losses, liabilities, and assets, this information will be essential, as these aspects are formulated using each member's ownership percentage. It will be important to get all co-owners, members, and partners to work together to create your Operating Agreement so everyone is up-to-date and is properly compensated.

Rights & Responsibilities

The rights and responsibilities of each member should be outlined clearly, including voting rights, requirements of each role within the company, salaries, and duties of each role. This section clearly details each members' role in the company. It is also where determinations are made regarding how much sway each member has in decision making that impacts the company, its members, and other stake holders.

Membership Rules

Members of your board or partners may eventually want to move on to other projects, so it is important to outline how people can leave your membership and the process for joining, as well. Having a detailed procedure in place for onboarding or offboarding members may not even seem like something that could happen right now, but the future is unknown and preparation is key to smooth transitions.

Dissolution

While it's never fun to think about the end - especially when things are just beginning - not having a plan for dissolution is a recipe for disaster. A business can close for any number of reasons, and not having a plan for dissolving the company can make for stressful situations with other members. Like other parts of your Operating Agreement, this section will detail member rights, roles, and responsibilities, but only in reference to what is to be done at the closing of the company. This section will detail who is responsible for what, how debts and assets are to be sold or distributed, and may even restrict members from opening a similar business for a certain amount of time.

Severability

This section details the protections of the agreement if any part of the agreement turns out to be in violation of a law in your state or federally. This ensures that the aspects of the agreement that are not in conflict with the law are still enforceable.

If you need help crafting an operating agreement, we are here to help! Schedule an appointment today with our business consultants to talk about your business and what you might need from an operating agreement, as well as any other questions you might have about your business.

Leasing To Multiple Tenants

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It's recently become popular for landlords to rent out single family homes to multiple tenants, particularly in college towns or places where there is a high cost of living. It's a win-win situation: landlords get a significantly higher income than they would with just a single renter and tenants save money, too. But with the addition of each tenant, the likelihood of issues increases, too. From noise complaints to property damage, the problems each renter adds can create stress, as well. If you need help setting up a rental agreement, lease contracts, or any other landlord/tenant issue, the experienced, dedicated attorneys in our network of member law firms across the country can help you with no additional fee to members of our Legal Subscription Plans. The add-on benefits from our Home-Based Business Owner's coverage and our Real Estate, Renters, & Landlord Coverage add-on can give you access to legal advice any time. In the meantime, here are a few tips for renting to multiple tenants.

Roommate Agreement

Strongly encouraging tenants to sign on to a roommate agreement can eliminate disagreements before they even start. A roommate agreement should detail rules, responsibilities, and guidelines for the shared home, including guests, utilities and bill sharing, noise, deposits, pets, parking, room allocation, common household items, food, cleaning, landscaping, and more. Roommate agreements aren't legally binding, but as the landlord, you can help enforce it.

The Actions Of One Affects Everyone

Each tenant should be made aware before moving in that the actions of one tenant could affect all the renters, as landlords can cancel lease agreements for all tenants if one tenant violates clause in the lease. This is not intended to create a hostile atmosphere with your tenants, but should be used to drive home the idea that the tenants should work together to uphold the terms of the lease.

Lease Language

A joint and several liability clause in your lease is very important. This means that each person who signs the lease is responsible for rent, and if one tenant can't pay, the other tenants will not be allowed to pay on their behalf. How the rental amount is divided is up to the tenants.

Subletting

Prohibiting subletting and AirBnBs is very important in today's fast paced world where people's lives change very quickly and often without warning. People move in with significant others or must leave town for work and they often want to solve the problem of owing rent in two places by subletting. Unfortunately, the sublettors will not be on your lease agreement, are not legally liable for the rent or property damage, and are not subject to any other terms of your lease. Plus, it can take months to evict sublettors in certain states where they may have squatters' rights.

Security Deposits

Dividing the return of a security deposit is bad idea as it can get messy quickly. If you have some renters that want to move out at the end of a lease but some that want to renew the lease, returning the security deposit can be a nightmare if it is not explicitly stated that the security deposit is refunded when all parties to the original lease move out. The same advice goes for property damage, as it can be a disaster to decide how the money should be divided. Waiting until all parties to the original lease move out to return deposits will save you headaches in the long run and, when all the parties have vacated the premises, you can leave it to the tenants to decide how the security deposit refund is divided.

Tenant Screening

If a tenant moves away, the other tenants typically try to find someone to replace that tenant right away, but no matter who it is coming in to rent your property, make sure to do a thorough background and financial check.

Renters' Insurance

While you can't require tenants to procure renters' insurance, you can certainly recommend that they get some, for their own peace of mind. Personal property can go missing or be damaged just as easily as the property itself.

Representatives

Getting your tenants to appoint a representative from among the group can alleviate miscommunication and create a consistent point-of-contact.

Make Sure Your Lawyer Reviews the Lease Agreement

The lease agreement is a complex legal document that only gets more complex as more tenants are added. Having your attorney look over your lease agreement - or, better yet, helping you draft it - can protect you, your property, and your rights before the first tenant signs on the dotted line.

Get on-demand help with your rental business from day one when you become a member of our Legal Subscription Plans with our Real Estate, Renters, & Landlord Coverage add-on and rest easy knowing that your legal bases are covered, no matter what happens. Learn more about our Legal Protection Subscription Plans for Individuals & Families, our Home-Based Business Coverage, and our Real Estate, Renters, & Landlord Coverage add-on or sign up today!

Successfully Working With A Contractor

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Whether you're planning a renovation or a home repair, hiring the right contractor is extremely important. It's critical to know as much as possible about the company you're hiring to work on your house or project, getting multiple bids, preventing miscommunication, understanding any contracts, and knowing what to do if there is a dispute. Our network of attorneys through our Legal Protection Subscription Plans for Individuals & Families can help you through the entire process of working with a contractor, including going over bids, contracts, and helping you through the legal process if there should be a dispute. Learn more about all the benefits of membership and read on for a few tips on working with contractors.

The Contract

It is essential that you have a contract when hiring a contractor before work begins on your home. Get everything in writing, and make sure that your contract covers:

• A complete and thorough description of the job and the work to be done

• Pricing for the job and each part of the job

• How and when payments are to be made

• Any guarantees or warranties offered by the builder

• The dates work is to begin and end

• Signature of both parties

• Payment

As mentioned above, an important item to include in the contract is a payment schedule. An example of this might work something like: A down payment before work begins, another payment at the halfway point in the project, and a final payment at the completion of the job. Another payment schedule might be weekly payments based on work completed to date. Having a payment schedule can ensure that the work is getting completed in a timely and correct fashion.

The Right to Cancel

The FTC and some local laws allow for you to cancel work if you need to. An attorney well versed in the laws of your locality will be able to give you detailed and accurate advice regarding your rights in this situation.

Document The Work

Take pictures, keep change orders, bills, and invoices. These items will be useful to make sure the project stays on track and on time. Make sure everything has a date on it and keep your documentation in a safe place and altogether.

What If There's A Dispute

It's a sad fact that things sometimes don't work out, and if you are unhappy with the work or the work wasn't completed and the contractor won't return your calls, an attorney will be able to walk you through the legal aspects, but here are a few suggestions of things to try:

Contact Them

Be respectful, as there may have simply been a miscommunication. If they do not treat you with respect, make sure to document the call and what was said while it is fresh in your mind. If they work for a company, contact them and explain the situation.

Send a Formal Letter

Writing a formal demand letter is often enough to get the contractor back out to finish the work. If you are not comfortable writing such a letter or don't know what to say, our network of lawyers will be able to draft and send a letter on your behalf at no additional fee. Send the registered letter through the postal service to ensure delivery.

File Complaints

The Better Business Bureau, the Contractor Recovery Fund, Homeowners' Recovery Fund, and state and local agencies can help you handle a contractor who has disappeared and/or is not returning your calls.

Get Legal Advice

Our network of dedicated, experienced attorneys can write letters on your behalf, give you legal advice, look over contracts, and protect your rights, all for one low, monthly fee.

If You're A Contractor:

Sometimes, contractors who do good work and complete a job still come across clients who say they're unhappy and refuse to pay. What can contractors do if this happens to them?

Document everything from Day One on the job.

Take photos and videos before you start work, at the end of each work day, and at the end of a job. This gives you a dated timeline of the work.

File A Lien

File what is known as a Mechanic's Lien on the property. This is a guarantee of payment for contractors, so that, when a contractor performs the work and the client refuses to pay, the contractor can file a lien and demand payment before the lien is removed.

File A Breach of Contract

When the terms of the contract are met and the customer still refuses to pay, this is a breach of contract and contractors can then take the client to court for failing to uphold the terms of the agreement.

Whether you're a homeowner or a contractor, having a lawyer in your back pocket (literally, if you use our app!), protecting your rights, your property, and your livelihood is your number one priority. With our Legal Protection Subscription plans for Individuals & Families and for Small Businesses, you can protect your rights, your property, and your work for just pennies per day!

Employment Contract Red Flags

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A federal court recently ruled that Tesla must pay a former contract worker $137 million in damages following a claim of abuse while working for the company. Owen Diaz worked for Tesla as a contract worker and dealt with a hostile work environment. Other employees bullied him and other African American workers, including racist graffiti and drawings. It's a shocking story, but if Owen had signed his Tesla contract, he wouldn't have even been able to take the company to court over the abuse they did nothing about. The employment contract with Tesla stipulated that all disputes had to go through mandatory arbitration, which prohibits parties from taking each other to court, requiring all involved to settle claims and disputes privately. It rarely works out in favor of employees when included in employment contracts. These arbitration clauses prevent employees from taking an employer to court if there is a dispute, so it is a good idea to review employee contracts carefully to see if this kind of language is included.

Whether you're a short-term contractor or a long-term employee, it is critical that you read and understand what your rights and responsibilities are according to any employment contract before you sign it. Your provider attorney through our Legal Protection Plans for Individuals and Families will be able to walk you through any employment contract your employer asks you to sign and help you work through potential resolutions for any terms that strip you of your rights or throw up any other red flags.

What To Look For

Restrictive Covenants

Restrictive covenants are usually included in employment contracts to protect the company, other employees, or clients of the company. These could include clauses such as non-compete, non-disclosure, or non-solicitation.

Job Description

Even if you already know what your duties on the job will be, it is important to make sure that the language used and description of your job match up with any job description  where you applied or in your interview or other documents. If the description of your job differs, you should bring this up with Human Resources or the hiring manager. If the changes are significant, talk to your attorney about appropriate next steps.

Salary & Requirements

Again, if the language or details in the employment contract differ from what you were told in your offer letter or other communication, speak to the hiring manager or Human Resources for the company before signing. You can also discuss this with your attorney so you have a firm knowledge of what to say. This section should also include details on how and when you will be paid and how any bonuses are distributed and your eligibility.

Working Hours

Double-check the details here, too. Make sure that the start date, number of weekly working hours, and days off all match what you have been previously told. Again, if there is a discrepancy, speak to HR or the hiring manager. You attorney can help you here, too.

Sick Leave and Holiday Pay

Understanding policies surrounding sick days and holidays is also important. What does the contract state are the procedures and policies for taking time off, whether you are required to take your time off or lose it after a certain date, and if there are any days that are company holidays?

If you ever receive an employment contract from an employer - whether a new one or one you have worked with for years - and you need clarity or a better understanding of your rights, you can call your provider attorney any time for advice, document and contract review, and more at no additional fee. For just $29.95 per month, you can have the piece of mind knowing that you understand any contract given to you before you sign a legally binding document. Learn more about all the benefits of our Legal Protection Plans for Individuals & Families, or sign up today!

How To Solve Disputes With Roommates

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Many people save money and time spent on household responsibilities by sharing a living space with someone else. Having a roommate can have a lot of pluses: it can be fun, cost effective, and safer to live with someone else, especially when you're starting out. It's also a completely different living experience from living with parents, other family members, or a significant other. Living with someone you're not related to or in a relationship with can also mean that disagreements can (and do!) happen, and it's important to know going in that you probably won't agree about everything.

In shared housing at colleges, we rarely get to choose who we share our space with, but it can give you a taste of what living with someone else can be like. Different personalities, hygiene habits, schedules, and lifestyles can make co-habitating a challenge. One way to avoid conflict is to sit down with your roommate(s) and discuss aspects of your new living arrangement and make a written agreement. This can include division of household chores, division of bills and expenses, how food is kept (is it shared or separate; are you labeling your food containers and purchases; how long are leftovers kept in the fridge; etc), when and how many friends can come over, and much more. Writing down your expectations before choosing a roommate can also help you decide what kind of person you'd be most comfortable sharing your space with.

Leases can cover some aspects of shared living arrangements, such as the amount of rent each person is responsible for, the rules on guests and pets, and certain aspects of keeping the property clean. But most other aspects should also be addressed and put in writing outside of the lease agreement. When you're a member of our legal subscription services, you'll have access to an attorney-prepared Roommate Agreement that can help set boundaries and make your day-to-day relationship with your roommate easier. Our Roommate Agreement covers rent and utilities obligations, the use and care of each other's belongings, upkeep of the property, use of the rental unit and visitor policies, and personalized requirements for your unique situation.

Disagreements are probably unavoidable, but having house rules in order can ease tensions when problems arise. Learn more about all the benefits renters have with our legal subscription plans for individuals and families, or sign up today!

Natural Disaster Preparedness

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Wildfires in the West, hurricanes in the South and North East, and tornadoes throughout the Midwestern United States this year have brought home the importance of being as prepared as possible for a natural disaster. Natural disasters can threaten any of us at any time, and it is critical to be prepared. Having an emergency plan is essential, and having your paperwork for ownership of assets, insurance, and other items is something on emergency lists that may get overlooked. Our network attorneys can help you get your legal issues in order to prepare for a natural disaster, or help you negotiate with insurance companies if the worst should happen. Learn more about our legal subscription plans, and read on for a few important tips for natural disaster preparedness:

Make An Emergency Plan

Decide where your family will evacuate to if you need to leave your home and make those arrangements. Include arrangements for pets and livestock. Make a list of what you will need to bring, including clothing, hygiene items, important documents, medications, pet carriers (if needed), identification, and some emergency food and water. Take photographs of important belongings for insurance purposes, and store those photos on a USB drive in a safe place where you can access it even if your home is damaged or destroyed, such as in a safety deposit box off site, or in a fireproof and waterproof box you can take with you in the event of an evacuation.

Review Your Insurance Policy

Examine your current policy and coverage (including renter's insurance, if applicable) and make sure you have appropriate coverage in the event of a natural disaster. If you are a renter, make sure your policy is up-to-date, as your landlord's insurance policy won't cover your personal belongings. Make sure you fully understand the terms of your policy, and go over those terms with your attorney if you need further explanation.

Store Essential Documents

Gather all of your essential personal documents to store in a safe place. This includes insurance policies, passports and other identification, Social Security cards and numbers, birth certificates, titles, deeds, wills, and other important documents. Invest in a portable fireproof and waterproof safe or box to store them in so you can take them with you if you have to evacuate, or consider getting a safety deposit box.

If You Have Warning of an Impending Natural Disaster in Your Area

• Pack your emergency items, as outlined above

• Make sure your car has a full tank of gas

• Verify your evacuation arrangements

• Make arrangements for your pets and livestock

After a Natural Disaster

Responding to Damage

Document damage with photographs before you do anything else. These pictures will be invaluable as you work with your insurance company. Don't throw anything away until your insurance company has cleared you to do so. Discuss repairs with your insurance company, and, before hiring any contractors, make sure to talk to your insurance and utility providers. Before hiring a contractor, make sure to have your attorney look over the contract before you sign it.

Communicate With Your Bank and Utilities

Ensure that your bank(s), utilities, and other places where you have accounts know about your situation. Document your conversations with them. Discuss the possibility of late payments. File for disaster relief as soon as possible. If you have any issues, contact your provider attorney for assistance dealing with companies and other organizations and governments.

Hundreds of thousands of people nationwide are facing natural disasters right now. Our hearts go out to the families suffering. Natural disasters can strike anywhere at any time, and being prepared is the best thing you can do to not only put your mind at ease in case the worst should happen, but to also get you through any disaster that might effect you, including wildfires, hurricanes, earthquakes, tornadoes, and more. Learn more about the services of our legal subscription plans, or sign up today.

Common Small Business Contract Clauses

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Contracts commit your business - and sometimes you, personally - legally, so all contracts should be read thoroughly before signing; that's a given. Having an attorney look over any contracts that affect your business is usually the best plan, but, for many small businesses, keeping a lawyer on retainer isn't in the budget. Our legal subscription plans for small businesses let you run contracts, agreements, and other important documents by your lawyer any time for just one, low, monthly fee. You can learn more at this link, but in the meantime, let's take a look at some common clauses in small business contracts and agreements.

Identities of the Parties

The most basic information included in contracts is details about to whom the contract applies, or the parties involved. There are a few distinctions: is the agreement or contract between individuals? Business entities? A combination of the two? Using your personal name on a business contract instead of your business name might make you personally liable to what would otherwise be your company's contractual obligation.

Rights & Responsibilities

Contracts need to be completely transparent regarding the rights and responsibilities of each party involved. Contracts may allow buyers the right to inspect deliveries before payment, for example. Both sides need to understand what is required of them and what they are risking according to the terms of the contract.

Merger/Integration Clause

A merger/integration clause states that only the full and final clauses agreed to during negotiation are contained in the contract and are the complete and final version. This will prevent disagreements at a later date regarding disputes between any previous version or verbal agreements and the final, written version.

Indemnification Clause

If a party to a contract believes another party to the contract presents some risk of liability through the second party's actions that are out of the first party's control, an indemnification (or indemnity) clause can provide some protection. A retailer who does not want to be held liable for a manufacturer's defective product harming a customer would probably want an indemnity clause included in the contract. The same might be said of the manufacturer who doesn't want to be held liable if the retailer demonstrates their product in a way that it wasn't intended and might be dangerous. Indemnity clauses can be mutual; all scope and duration of indemnity should be negotiated between the parties, and with lawyers, if possible.

Insurance Provisions

Indemnity clauses don't always provide enough protection, so insurance clauses are common, and they cover any losses or damage resulting from mistakes, mishaps, or negligence. Contracts need to clearly state whether one or both parties are to obtain insurance and the amount and type of coverage.

Contract Termination

There are many situations where you may want to end a contract early, and termination clauses build in conditions under which this is possible. Termination clauses usually allow for cancellation either unilaterally or by mutual consent or in the event that one party has defaulted or breached the contract terms. Termination is not the same as not abiding by the contract terms: make sure to meet all your contractual obligations while attempting to terminate a contract.

Dispute Resolution

Most contracts spell out how disputes are handled, specifying time frames and forums, and types of resolution. Legal action is usually an option, but most businesses try to avoid it to minimize distractions from running their business.

Contract Term & Renewal

Avoiding additional commitments can be handled with a contract term clause that specifies the duration of the contract and when/how it can be renewed. Some contracts may renew automatically if we do nothing, so it is always important to read the fine print.

Understanding each contract or agreement you sign is very important, and the expertise of an experienced contract attorney can be invaluable. Members of our legal subscription plans can have even the most confusing and complex documents reviewed and evaluated by an attorney. Learn more about this valuable service, or sign up today!

Contract Clauses