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A merchant cash advance involves a contract between you and your provider. If you stop making your payments, it could result in a merchant cash advance breach of contract, and the lender could sue you. The consequences of defaulting on a merchant cash advance agreement can be severe. Small business lenders typically include a provision [...]
Commercial litigation can be a very expensive process for most businesses in terms of distraction and potentially derailing the main purpose of the business. The majority of businesses expect commercial disputes to be solved efficiently and quickly, while maintaining the core business objectives at the front. In this post we look at the definition of [...]
Disputes are inescapable once you are in the process of conducting business. Conflicts can stem from various sources, including competitors, regulatory authorities, distributors, lenders, or customers. Commercial (or business) litigation, as an area characterized by its participants, encompasses a wide range of legal proceedings and conflicts. It typically occurs when one party seeks to enforce, [...]
Understanding what a non-managing member is can be a bit complex. A member-managed LLC is an LLC in which all the members participate in the decision-making process. Where there is a dispute, the vote of a majority generally rules, while certain extraordinary actions require unanimous consent. However, in a non-member managed LLC, the members do [...]
Why should you care about Article 9 of the Uniform Commercial Code as a business owner? The answer is simple: whenever you enter into a financing arrangement, equipment lease or any transaction where an obligation is secured by collateral, UCC Article 9 is there in the background to protect you as long as the agreements [...]
Ever wondered what harmonizes the laws of sales and other commercial transactions? The uniform commercial code was initiated in 1982 as an effort to create commercial laws that were uniform to everyone. In 1986, the uniform commercial law was enacted in each of the American states with more adjustments following soon afterwards. The major adjustments [...]
