In the grand tapestry of legal innovation, few threads are as vibrant and challenging as those connected to the advent of autonomous vehicles. As technology outpaces legislation, the state of Texas finds itself at the heart of a fascinating confluence of law, technology, and transportation. This article delves into the legal implications surrounding the use …
Category: Business Law
Understanding the Difference between Representation and Warranty in Contracts
In contract law, the terms “representation” and “warranty” are often used interchangeably, leading to confusion about their meanings and legal implications. This article aims to clarify the distinction between the two concepts and provide a legal overview of warranties in contracts. Black’s Law Dictionary defines “warranty” as “an express or implied promise by one of …
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Time is of the Essence in Contracts
Time is a fundamental element of contract law. Parties often specify deadlines or specific times for performance to ensure that each party receives the expected benefits of the contract. The phrase “time is of the essence” is often used in contracts to emphasize the importance of timely performance. This phrase means that the performance of …
Proposed Federal Trade Commission Non-Compete Ban
Our firm frequently receives requests from individuals in varied fields to review non-compete agreements their employers have presented them. We have previous blog posts about the enforceability of general non-compete agreements and the specific requirements for physician non-compete agreements. Soon, however, non-competes may become a thing of the past. On January 5 of this year, …
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Unconscionability in Texas Contracts
Generally, parties with capacity are free to contract for whatever they want in the state of Texas, with a few exceptions such as contracts for illegal acts or contracts that are against public policy. However, a contract can sometimes be so one-sided that courts will not enforce it because the contract is deemed unconscionable. It …
Forming a Series LLC in Texas
Let’s say you are starting up a new business or want to start buying up investment properties and you are considering forming a Limited Liability Company (LLC). Perhaps in your initial research, you come across the term “Series LLC” and wonder if this is the right entity for your business or investments. A Refresher on …
Texas “Head Shop” Laws Since Recent Hemp Legislation
Whether intentionally or not, the Texas legislature instituted momentous changes to the legal status of CBD and hemp-based products with the passing of House Bill 1325 in 2019. Since the passing of that bill, a considerable number of businesses selling newly legal CBD, hemp, Delta-8, and associated products have entered the market, and Texas regulatory …
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Written Notice Requirements for Termination Under a Texas Contract
A well-drafted contract includes language to provide for the consequences of almost any possibility. One of the many things such a contract provides for is the possibility of termination before all the obligations under the contract are met. Should one of the parties wish to terminate a contract early or officially notify another party of …
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The Offering Memorandum in Texas
When privately-held business owners want to grow their business, they will often reach out to potential investors, hoping to raise money which will fund that growth. Understandably, investors want to know as much as possible about the business and its financial status before investing. An Offering Memorandum serves the purpose of providing information to potential …
Indemnification in Contracts
Contracts, when well drafted, seek to provide for, and agree to the consequences of, any possibility that might occur during the life of the contract. One important area that is frequently covered under many contracts is that of indemnification – essentially meaning protection against liability. Indemnification Clauses Indemnity is defined as “[a] duty to make …