If you do business in the state of Ohio, you likely deal with contracts. Depending on the nature of the transaction, the applicable law can be either the original, common-law based structure or the more recent Uniform Commercial Code (UCC) as it has been adopted by...
Negotiating a contract between two businesses can become a drawn-out process, and it is not uncommon for the parties to the agreement to have held multiple meetings in which proposed terms were discussed or written down, oral understandings were exchanged, or even a...
If your company does business with international partners, and especially if these transactions involve buying and selling goods, you may discover that to many foreign business people the American penchant for detailed contracts that seek to anticipate and address as...
Parties to an agreement, particularly a business agreement, do not operate in an environment of perfect knowledge. Sometimes after entering into a contract either or both of the parties to it may realize that a mistake has occurred in the way the contract was written...
The Cleveland Clinic, which holds the lease for a 100-year-old hospital in Lakewood, Ohio, announced that it wanted to close the facility in 2016, 10 years before the end of its lease in 2026. The city and several council members have signed on as plaintiffs in a...
One of the advantages that commercial transactions have at the outset is the convergence of interests between the business partners: everybody is interested in making money. But sometimes after the ink is dry on the contract what began as a case of great expectations...
The saying, "Knowledge is power" is one that many businesses in this state understand even if they never utter those words. In the present-day information era, often what is most important to a company's profitability or even its survival consists of data, processes,...
If two individuals or organizations enter into a written agreement, it is considered to be a contract. If the one of the parties does not meet their obligations as defined by the agreements, they are considered to be in breach of contract. When this occurs, the...
Several interrelated companies have been accused of violating Ohio's consumer protection laws. According to a lawsuit that was filed by the state's Attorney General, the group of companies used deceptive business practices when they sold travel club memberships to...
Many small business owners make errors that could potentially lead to the failure of their businesses and significant personal liability for business debts. It is important for small business owners to be aware of the common errors they might make in order to take...