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Real Estate Law Update: A Discussion on Laches

A few years back I wrote a post about the legal doctrine of Laches and how laches relates to real estate disputes. Since then, I consistently get a lot of hits on that post – and a lot of searches for “laches in real estate.” Why? I don’t know. Maybe because its an unfamiliar term, unless youContinue reading “Real Estate Law Update: A Discussion on Laches”

Pitfalls for Business Owners: Recent Court Case on Piercing the Corporate Veil.

We are heading towards the end of the year – I love the Christmas season! One thing that comes to mind for local business owners going into the New Year – make sure that your legal documents and procedures are in proper order. As every business owner should know, one of the main purposes inContinue reading “Pitfalls for Business Owners: Recent Court Case on Piercing the Corporate Veil.”

Legislative Update and Non-Disparagement Clauses in Contracts

Today, I read an article published in the ABAJournal titled: In bid to protect online reviews, Congress OKs bill banning gag clauses in consumer contracts According to the ABAJournal: “Congress has passed a bipartisan bill that aims to protect negative online reviews by banning nondisparagement clauses in nonnegotiable consumer contracts.” It appears that this legislationContinue reading “Legislative Update and Non-Disparagement Clauses in Contracts”

Special Purpose National Bank Charters for #Fintech Companies

Today, Thomas J. Curry, Comptroller of the Currency gave remarks at Georgetown Law School about Special Purpose National Bank Charters for Fintech Companies. You can read the remarks here. Mr. Curry announced that the Comptroller of the Currency (OCC) would move forward with considering applications from financial technology (fintech) companies to become special purpose nationalContinue reading “Special Purpose National Bank Charters for #Fintech Companies”

Big Bank Troubles and Trending Towards Community Banking or Fintech?

“The so-called Sons and Daughters Program was nothing more than bribery by another name,” -Assistant Attorney General Caldwell. Today the Department of Justice issued a Press Release – JP Morgan’s Investment Bank in Hong Kong has agreed to pay a $72 Million Penalty for Corrupt Hiring Scheme in China. Yikes. A couple of thoughts: 1.Continue reading “Big Bank Troubles and Trending Towards Community Banking or Fintech?”

Business Legislation Update: Business Owners: Bill Would Restrict Non-Competition Agreements with Employees.

On November 9, 2016 House Bill 6017 was introduced in the Michigan House of Representatives. If passed it would limit the enforceability of a non-competition agreement signed between an employer and an employee. I have spent several articles discussing the legal consequences/enforceability issues of non-competes. It appears the Legislature is wrestling with the question posed byContinue reading “Business Legislation Update: Business Owners: Bill Would Restrict Non-Competition Agreements with Employees.”

Real Estate Law Update: A Holdover after Foreclosure Sale Is Not a Tenant.

Happy Friday! Today I am posting about a Court of Appeals case decided on November 1st – Seymore v Adams Realty, et al Foreclosed Property = high risk/high reward. Real estate investors are always wary of the many pitfalls when purchasing property at foreclosure. The Adams Realty Case provides an example of what happens when someoneContinue reading “Real Estate Law Update: A Holdover after Foreclosure Sale Is Not a Tenant.”

Another Court Lesson for Business Owners: Read Your Contracts Before You Sign.

I recently read yet another court decision that provides a classic example for businesses owners of the consequences for not reviewing your contracts before signing. The case: the October 6th, 2016 Michigan Court of Appeals decision of Earl Pegues, LLC v Izis General Contractors, LLC. The dispute concerned a construction agreement. The property owner, PeguesContinue reading “Another Court Lesson for Business Owners: Read Your Contracts Before You Sign.”

Reminder to Michigan Limited Liability Companies: Maintain your Corporate Formalities and Keep up your Guard.

Occasionally I will have a business client come in and I will ask – just to make sure – “is your business still in good standing?” The common answer is “I think so.” And of course, after I perform a quick internet check with the State of Michigan it is all too common that IContinue reading “Reminder to Michigan Limited Liability Companies: Maintain your Corporate Formalities and Keep up your Guard.”

Real Estate Case Law: Tenants in Common v Tenants with Full Rights of Survivorship – A Potentially Costly Distinction.

This morning I read a court of appeals decision that came out on October 18 – it provides a classic example of why you need to take care in drafting real estate documents. The case: In Re Estate of Lyle Steiner Facts are relatively straight forward: In 2007, Tuscan Plaza Condominiums, LLC, conveyed aContinue reading “Real Estate Case Law: Tenants in Common v Tenants with Full Rights of Survivorship – A Potentially Costly Distinction.”