Archive for April, 2022

Liquidated Damages Clause in Real Estate Contract

Uncategorized No Comments »

A liquidated damages clause is a provision in a real estate contract that allows the parties involved to agree upon the amount of damages that will be paid in the event that one party breaches the contract. This clause is designed to provide clarity and certainty in the event of a breach, and can be a valuable tool for both buyers and sellers.

In a real estate transaction, a liquidated damages clause will typically specify a fixed amount of damages that the breaching party must pay. This amount is intended to compensate the non-breaching party for any losses they may incur as a result of the breach. For example, if a buyer breaches a contract by failing to close on a property, the liquidated damages clause might specify that the seller is entitled to keep the buyer`s earnest money deposit as compensation.

The purpose of a liquidated damages clause is to avoid the need for costly and time-consuming litigation in the event of a breach. By agreeing in advance on the amount of damages that will be paid, the parties can avoid the uncertainty and expense of going to court to determine what damages are appropriate.

However, it is important to note that liquidated damages clauses are not always enforceable. Courts will look closely at the specific terms of the clause to determine whether it is reasonable and proportionate to the harm caused by the breach. If the court finds that the liquidated damages are excessive or unfair, it may refuse to enforce the clause and award damages based on the actual harm suffered by the non-breaching party.

To ensure that a liquidated damages clause is enforceable, it is important to work with an experienced real estate attorney who can help draft the clause and ensure that it complies with applicable laws and regulations. The attorney can also help negotiate the terms of the clause to ensure that it is fair and reasonable for both parties.

In conclusion, a liquidated damages clause can be a valuable tool in a real estate transaction, providing clarity and certainty in the event of a breach. However, it is important to work with an experienced real estate attorney to ensure that the clause is enforceable and fair to both parties.

What Does It Mean If a Contractor Is Bonded and Insured

Uncategorized No Comments »

As a homeowner, it`s important to ensure that any contractor working on your property is not only skilled and reliable but also bonded and insured. These two terms are often mentioned together, but what do they really mean?

Bonded contractors have purchased a surety bond, which is a type of insurance that protects you as the homeowner in case the contractor fails to complete the project according to the agreed-upon terms. The bond ensures that you will receive compensation for any damages or incomplete work, and it also acts as a guarantee that the contractor will uphold their end of the contractual agreement.

On the other hand, insured contractors have liability and worker`s compensation insurance. Liability insurance protects you in case the contractor damages any part of your property or causes injury to someone while working on your property. Worker`s compensation insurance protects the contractor`s workers in case they get injured while on the job. If a contractor is not insured, you could be held liable for any damages or injuries incurred during the project.

It`s crucial to ensure that the contractor you hire is bonded and insured before they begin the project. Ask for proof of their bond and insurance, and don`t be afraid to verify their documents with the respective authorities. Doing this can help you avoid any legal or financial trouble down the line.

In addition to peace of mind, hiring a bonded and insured contractor can also save you money in the long run. If a contractor is not bonded and insured, the responsibility for any damages or incomplete work falls on you as the homeowner. This means you`ll have to pay out of pocket or file a lawsuit to recover any costs. However, with a bonded and insured contractor, you have protection and recourse in case something goes wrong.

In conclusion, hiring a bonded and insured contractor is a crucial step in any home improvement project. Not only does it protect you from financial and legal trouble, but it also ensures that the work will be completed to your satisfaction. So don`t hesitate to ask for proof of bond and insurance before hiring a contractor, and enjoy peace of mind knowing that you`re in good hands.

Writer Collaboration Agreement

Uncategorized No Comments »

However, this is a classic example where the old phrase “one point in time saves new” applies. A little clumsiness and frankness addressed in advance can put to bed so many problems that can fester over time and become quite destructive. Without a cooperation agreement, a number of events could paralyze the progress of a project in a brutal and chaotic way. With a cooperation agreement and the structure it creates for the company, partners can focus on creating and using the best possible project. In particular, for the scenario of the author for hire or reward, referring to the proposal in the cooperation agreement and asking the subject to provide a written justification for any dissatisfaction with the manuscript, objective criteria are established against which the author`s contribution is evaluated. Even if the screenwriter`s staff did not agree on the exact details of his strategy, a cooperation agreement will be an invaluable guide throughout the process. Tasks. No action! Try to be as specific as possible about what needs to be delivered and when it is delivered. If you hire someone to help you write a non-fiction book, the author will prepare the book proposal. A book proposal that gives a detailed overview of the concept of the book and includes the author`s references and information on how to market the book.

The proposal will be used to arouse the interest of publishers. The proposal is usually written with the knowledge that content work on the actual manuscript only begins when an offer from a publisher is available. This scenario is common with “as I said” books. If an employee`s name has greater brand value (or greater notoriety), it may make sense for that person`s name to appear first. If the problem is unclear, alphabetical order is another reasonable approach. Cooperating authors may also want to initialize each page by hand to indicate their acceptance. Notarized signatures are an option, but not a legal necessity for them to be valid. If you link to here, please link to that landing page and not to my individual contract files that don`t appear in search engines. As a rule, the longest section of a cooperation agreement is the provision that determines the respective rights of employees related to the provision of services when the project is developed and produced by the financier, production company, studio or other buyer. If one of you doesn`t hire the others for the project and everyone invests your creative and business time and energies in the project, the cooperation agreement will describe everything in a clear and (hopefully) concise way.

The cooperation agreement should be seen as the “constitution” of the joint creative effort between two or more participants: the agreement will recall the respective rights and obligations of all and regulate the project as it goes through all phases of development, production and (hopefully) use. Often, the cooperation agreement provides that the remaining employees can move forward with the project and involve other parties to fill the hole left by the lost employee. Typically, the departing employee (or his or her heirs) always receives some of the money – usually half of his or her initial share in the event of death or disability, or a reduction negotiated in good faith when a voluntary resignation occurs. However, the remaining employees would hold all rights and retain all creative and business controls. Special thanks to Paul Levine, who made some clever remarks about the reasons for a written agreement and some important clauses. This example is based on several agreements I have with employees, some of whom are lawyers, but I am not one and it is not a fully verified legal document. Employees are free to lobby for the best possible offers and try offers for other types of services as part of the project (. B for example, acting, additional writing, directing, production, etc.), but they must accept that as long as the agreement with the studio meets the minimum requirements set out in the cooperation agreement, you will not be unreasonable and will not blow up the project for everyone. 1. The parties cooperate in the writing of the work and, once completed, are the co-owners of the work (or own the work in the following percentages: 50% to [author #1], 50% to [author #2]). a) Although it is a work of co-authorship, no agreement with a third party regarding the sale or license of the work is valid or enforceable unless both parties accept the agreement, except as provided in paragraphs 3 and 5 below.

b) Neither party may sell or otherwise voluntarily dispose of the Work or its part thereof without the written consent of the other party, but whose consent may not be unreasonably withheld. The essence of the cooperation agreement is copyright. In the absence of a written agreement, if two people work together, there is a good chance that the next job will be considered joint work. The formal legal definition of a “joint work” is “a work created by two or more authors with the intention that their contributions be merged into inseparable or interdependent parts of the same whole” (Copyright Act 1976, s. 101). 5. If, prior to the completion of the Work, there is a dispute of any kind relating to the Work, the Parties may terminate this Cooperation Agreement by means of a written instrument. In this case, a) the percentage of ownership, as provided for in paragraph 1, will be revised to reflect the percentage of the total work performed in writing by a revised agreement, without undue restriction by mutual agreement, and b) [Author #1] will have the right to complete the work alone or in conjunction with one or more other employees and to unilaterally enter into an agreement on the sale or License of the work. Copyright.

No action! If you do not intend to jointly own (and control) the Work, state this in writing in the Cooperation Agreement. And ensure that the cooperation agreement contains a well-worded integration clause. Other non-contractual measures can also be taken to support the assumption that the work is not joint work, but the best advice is to get it in writing. The parties to the cooperation must determine how a set of rights and powers are shared. You are not bound by the standard rules of copyright law. You can write your own rules. This is where creating documents from the real world comes into play. For example, it is perfectly legal for a sponsoring party to receive final approval for all aspects of the project and for the author or author to receive less than 50% of the profits otherwise required by copyright law. Nevertheless, the agreement could provide for the surviving author to assume editorial functions, subject to accountability to the heirs of the deceased employee. If the book is subject to revision, the agreement could also include a provision allowing the surviving partner to reduce the compensation paid to the estate if significant changes are made to the text or if it becomes necessary to hire external authors to keep the work up to date. Considering how apocalyptic such a departure of an employee would be without a written cooperation agreement, I would say that this is a second very close in importance (after the “division of labor” – above) as far as the compelling reasons for a cooperation agreement are concerned! Many people who hire are not aware of the consequences of working without a written agreement.

When a joint work is created, it is assumed that each employee shares the copyright and shares equal shares in the royalties. In addition, under the standard rules of copyright law – which can be changed by written agreement – any employee may license non-exclusive rights in the work to a third party, provided that he or she makes the profits reasonably available to the other. .

Wisconsin Commercial Real Estate Offer to Purchase Form

Uncategorized No Comments »

SignNow`s web service has been specially developed to simplify workflow organization and optimize the entire competent document management process. Use this step-by-step guide to fill out the commercial offer purchase form quickly and with ideal accuracy. As a general rule, Form WB-15 does not need to be accompanied by supporting documents, with the exception of the warranty certificate, which must be presented to the buyer upon payment of the purchase price. Nevertheless, there is a provision that states that a seller must also provide a report on the condition of the property if the property in question is an apartment building of less than five units. Forget about scanning and printing forms. Use our step-by-step instructions to complete and sign your documents electronically online. Loomis did not testify at the trial and Ricardo did not provide any additional information about Loomis or the treatment Loomis had given him. The following terms and conditions EARNEST MONEY PURCHASE PRICE accompanied by this offer and serious money will be sent to the securities dealer within days of acceptance or delivered commercially or personally or THE BALANCE OF THE PURCHASE PRICE will be paid at closing in cash or equivalent, unless otherwise stated below. INCLUDED IN THE PURCHASE PRICE The seller includes in the purchase price of the property all the furniture of the property at the time of this offer, not excluded in lines 20-22 and the following additional. According to the court order, Ricardo violated the injunction by entering the family home. Julie left home and joined Safe at Home, a program for victims of domestic violence offered by the Wisconsin Department of Justice.

As a rule, the form is completed by the real estate agent involved in the business, although each page of the document must be signed by the parties. The text of the form is self-explanatory, so it should be read carefully. Two original copies of Form WB-15 must be retained by the buyer and seller, and another copy must be made for the broker`s records. Using SignNow`s comprehensive platform, you can make all the necessary changes to the commercial offer purchase form, generate your personalized email signature in a few quick actions, and streamline your workflow without having to leave your browser. Logically, the terms of the transaction as well as the closing date must be specified in the tender offer. It therefore precedes the transfer of ownership rights to the buyer. The commercial takeover bid is intended to record the details of the commercial real estate transaction and to legally oblige the parties to comply with its provisions. Therefore, it serves as a legal confirmation of the purchase and sale of real estate.

The WB-15 Commercial Purchase Offer is a form authorized by the Wisconsin Department of Regulation and Licensing. The form was created for real estate agents (licensees) involved in the sale and purchase of various types of commercial real estate. According to the contract, there are two parties to the agreement: the buyer and the seller. The court did not review or refer to paragraph 767.41(5)(bm), which states that if a court finds that one of the parents has committed domestic violence, the safety of the children and the safety of the abused parent “are the primary concerns in determining legal custody and periods of physical placement.” In its decision in this case, the District Court read words in the law that do not exist, noting that the law “expressly provides for equivalent treatment” and ignored the words that exist – “treatment for thugs provided by a certified treatment program or by a certified treatment provider.” Ricardo`s testimony was not sufficient to demonstrate that he had received certified treatment for thugs under a certified treatment program or certified treatment provider, as required by section 767. 41.2)(d)(1)(a), the Appellate Body concluded. January 14, 2022 – A presumption against granting custody to an abusive parent can only be overcome with proof that the parent has completed the treatment of thugs from a certified program or certified provider, the Wisconsin Court of Appeals has ruled. In 2019, the state agreed to change the domestic violence charge against Ricardo to disorderly conduct because he had paid compensation and completed his treatment for drug and alcohol abuse and domestic violence. The District Court concluded that Ricardo was involved in a pattern of domestic violence and that the rebuttable presumption against granting Detention to Wis. Stat. Paragraph 767.41(2)(d)1 applied. In the divorce process, Ricardo testified that he sought advice on domestic violence, anger and alcohol consumption as part of his plea agreement with Tyler Loomis. .