A letter of intent is a preliminary document, commonly used in commercial transactions, to outline the eventual terms to be included in a formal contract to follow later. It can be used for a variety of reasons: to protect confidential information, outline terms, or to evidence the parties’ interest and desire to complete a transaction. Letters of […]
Category: Business Law
Oil & Gas Indemnity Agreements in Texas
In the energy industry, it is common for parties to enter into legal agreements directing drilling and day-to-day operations of oil and gas wells. These agreements are commonly known as master service agreements.Master Service Agreements and IndemnityThese agreements detail the rights and obligations that each party has during drilling operations. Prior to 1985, parties involved […]
Force Majeure Clauses and Coronavirus
The spread of COVID-19 has proved incredibly disruptive, forcing the postponement or cancellation of many private and public events. High profile events that suffered cancellation included the Houston Livestock Show and Rodeo and Austin’s iconic South by Southwest (SXSW). State and local orders mandating social distancing have also made many private events impossible, including weddings, […]
What the Coronavirus $2T Stimulus Package Means for TX Small Business
Small businesses across Texas have been crippled because of “stay at home” and “shelter in place” orders due to the coronavirus pandemic. Most recently, Governor Abbott signed an executive order consolidating its local predecessors and limiting non-essential activity until April 30, 2020. In order to rescue America’s economy, the federal government recently passed into law, […]
When a Texas Property Manager May Be Liable for the Debts of the Property Owner
Property managers routinely contract for services to properties on behalf of the owner. Commercial real estate projects including apartment complexes, retail centers, and office buildings need a variety of services for things such as landscaping and janitorial. Service agreements are often signed and orders are placed without much thought as whether the property manager has […]
Liability Between Co-Borrowers on a Note
A person who signs a note and promises to pay a certain sum is known as a maker on the note or payor. It is not uncommon in Texas for there to be multiple makers known as co-borrowers or co-makers on a note. While it is well known that co-borrowers are jointly and severally liable […]
Texas Certificate of Merit
Tort reform in Texas has made it critical for plaintiffs to ensure that all threshold requirements are met before filing lawsuits against certain professionals. Failure to comply with certain conditions precedent may have dire consequences. Texas law requires a plaintiff to file a certificate of merit contemporaneously with a lawsuit against certain licensed or registered […]
Foreclosing on the Landlord’s Contractual Lien
Almost all Texas commercial leases include a section that provides a Texas landlord with a lien on the tenant’s fixtures and personal property. Often, these contractual liens are overlooked by both landlords and tenants until there is a default by the tenant. The below is an example of pertinent language from a typical landlord’s lien […]
Texas Non Competes for Doctors
Non compete agreements for all types and ranks of employees have become common place in Texas. Physicians have not escaped this trend and are routinely expected to sign non competition agreements before accepting many positions in private practice. Non compete agreements in Texas must meet certain general requirements to be enforceable; however, additional requirements exist […]
Forfeitures and Terminations of Texas Business Entities
Many businesses in the State of Texas form entities. Whether a business is a registered partnership, a limited liability company, or a corporation, an entity may lose its ability to do business in Texas if an entity is involuntarily forfeited or voluntarily terminated. This article will discuss the law surrounding forfeitures and terminations as well […]