This is a problem that has come across my desk lately that you should avoid. Most commercial leases require that the tenant obtain a lien waiver from the general contractor and its subcontractors prior to a tenant receiving its buildout allowance from a landlord. Contractor Financial Difficulty If a general contractor cannot pay its subs [...]
In the coming months, you may find your customers are having grave financial difficulty and may file for bankruptcy protection. It may shock you when you receive a letter from the bankruptcy court trustee demanding return of payments your customer had made to you within 90 days of their filing for bankruptcy. WHAT IS A [...]
Haste Makes Litigation Waste: Poor Drafting Renders Option to Purchase Unenforceable, guest post by Justin Daniels
Blackberries, text messaging and instant messaging have resulted in a culture that worships speed at the expense of precision. I see this effect every day when people explain transactions to me that they wish to pursue only to leave out important details that they either had not considered or were in their head and did [...]
Looking to Sell Your Atlanta Business? Contact an Atlanta Real Estate Attorney, guest post by Justin Daniels
After many hard years of work and building, you decide it is time to sell your business. Before you uncork that champagne bottle and buy your yacht, you will need to think about issues and plan in advance of selling your business. You should carefully consider the following three things when you think about selling your business.
Many business owners do not realize their general liabililty insurance policies do not cover liability exposure created by employee benefit programs that their company offers. Bill Snellings, owner of the Snellings Walters Insurance Agency in Sandy Springs, explains the issue this way: “Most business owners do not realize the liability exposures that are created by [...]
Mediation and arbitration are generally contractually agreed upon substitutes for resolving disputes as opposed to resorting to a court to resolve it. The purpose and goals of mediation and arbitration, however, are quite different and often misunderstood.
The most recent Atlanta Business Chronicle included an article that SunTrust was relieving certain of its corporate officers from their non compete agreements. The article further discussed the most important aspect of non competes when you hire a chief executive officer or a salesperson in Georgia. In our state, non competes are very difficult to enforce, more importantly, a bad non compete also results in a court throwing out a perfectly enforceable non solicitation provision. What SunTrust and other companies are appreciating is that relationship driven businesses are usually better off leaving out a non compete rather than risk losing an enforceable non solicitation clause if a court finds a non compete unenforceable.
One of my favorite real estate bloggers is The Notorious R.O.B., not just because his blog name makes me smile, but because he is one of the most thorough writers and has a very keen mind for analysis. He covers everything from MLS to NAR and lots of commercial real estate topics. I recently read one of his genius ideas about making the Homestead Act updated for the 21st century. Here are Rob’s ideas:
As of July 1, 2008 residential and general contractors who do work in Georgia must obtain a license from the State Licensing Board for Residential and General Contractors.
Our resident commercial real estate attorney has written his Top 10 Checklist for Commercial Lease Legal Issues to help you consider the important issues that come up in your lease. Confirm all financial and legal terms from lease LOI and properly reflected in the lease document. CAM Charges: a) Did landlord included capital expenses in [...]