Most contracts never get reviewed by a lawyer before they are signed. Here are few contract clauses that catch my eye – and they should catch your eye, as well. Whether the clause is a favorable or unfavorable addition to the contract depends on each, individual situation.
What is an Exculpatory Clause? Today, virtually every form contract contains an exculpatory clause. An exculpatory clause is a clause in the contract that strictly limits the liability of one party. For example, if you rent skis from a local ski shop, the contract may contain an exculpatory clause limiting the liability of the ski […]
Foreign Country Money Judgments. Perhaps the title to this month’s article sound a bit dry unless you are one of the growing number of people doing business deals throughout the world. Often, a person obtains a judgment in a foreign country against another person with assets located here in Colorado. The secret is knowing how to enforce that foreign country money judgment here in Colorado.
What do you do when somebody owes you money but not enough to justify a lawyer? The answer is small claims court. If you end up there, here are some tips to increase your chances of success.
To domesticate a foreign judgment in Colorado is relatively simple so long as the Colorado judgment debtor does not contest the process. Colorado follows the Uniform Enforcement of Foreign Judgments Act when domesticating a sister state judgment.
Piercing the corporate veil is when a court reaches through a business entity and finds the owners, officers or employees liable for actions taken by the business. Business owners and officers want to know whether they are personally liable for business liabilities. The answer depends upon the facts and circumstances of each situation.
If in business long enough just about all companies are faced with a customer or vendor who does not fulfill his end of the contract. When that occurs, it is important to understand the mitigation of damages rule.
Mediation or arbitration clauses are found in just about every standard contract these days. These alternate dispute resolution clauses should be carefully reviewed before including the clause in any contract.
Many individuals avoid probate by using revocable trusts, payable on death designations and joint tenancy. When they die, their money quickly disappears leaving creditors with unpaid probate claims. However, there are ways to recover nonprobate assets from persons who receive those assets.
The general rule is that liability for a debt rests with the person who incurred the debt. However, like most general rules, there are many exceptions. One of those exceptions is something called the family purpose doctrine.
The family purpose doctrine states that the expenses of the family and the education of the children are chargeable upon the property of both husband and wife, or either of them, and in relation thereto they may be sued jointly or separately. In simple English, this means that both husband and wife are responsible for the grocery bill regardless of who went to the store.