Posted on September 09, 2022 in Uncategorized

Parties enter into a contract with the goal of everything going as planned. But unfortunately, things can happen that prevent people from performing the contract. When the unexpected happens, it’s essential to understand the legal remedies for breach of contract and to contact an attorney to protect your legal rights

Mallery s.c. has years of experience helping individuals and businesses throughout Wisconsin successfully navigate even the most complex contract dispute. We’re here to help.

Contract Law Basics

Before discussing remedies for breach of contract in Wisconsin, we need to review some contract law basics. After all, you can’t get any remedy for a breached contract unless it’s binding. What’s more, you may be surprised to discover that not all breaches are equal and thus merit a substantial, or any, remedy

Elements of a Binding Contract–

There are five essential elements of a binding contract:

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 Posted on June 13, 2022 in Uncategorized

With the hot housing market, people are buying and selling homes in Wisconsin at an increased rate. The current housing market brings real estate investors, new and seasoned, plenty of opportunities.

Investing in real estate can provide you with long-term security and income, or it can lead to financial headaches. Fortunately, there are steps that you can take to protect yourself from lawsuits.

Don’t Skip the Home Inspection

Whether you plan to live on the property or rent it out, it’s critical to have a home inspection before you sign the contract.

In the rush to beat the other buyers, many real estate purchasers chose to waive the home inspection contingency in their contract. This meant that they would buy the house without having any inspection before purchasing the property. If they did have a home inspection done, they may have waived their right to ask the seller to repair the property. This type of offer may appeal to a seller and get you the contract; however, the cost of this shortcut may be great.

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 Posted on June 13, 2022 in Uncategorized

A business sale or business closure can be a sad event, a weight off of your shoulders, or a mixture of both. Regardless of how you feel about walking away from a venture you built, remember that it’s not as easy as just cutting off the lights and locking the doors for the last time. To make a clean break from your former business, you need to properly address your business’s creditors. Failure to notify your creditors can result in unnecessary lawsuits, obligations to pay interest and fees, and in-fighting among former business owners

Properly addressing your creditors in order to limit your liability is often best achieved with the help of a skilled lawyer. At Mallery s.c., our top-level business attorneys mix years of experience, a collaborative spirit, and a personalized approach to protecting the professional and personal legal interests of entrepreneurs

In this article, we give you a brief summary of how to notify creditors of a business sale or closure and limit your liability

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 Posted on June 13, 2022 in Uncategorized

As you probably already know, rarely do all variables align perfectly when you’re ready to sell your business. You’re likely going to have lingering obligations, even up to the day you hand over your keys to the new owner. Many of these loose ends come in the form of business contracts. So, What happens to the contracts when a business is sold? Your contractual obligations stay with you unless you take certain steps to mitigate or eliminate your responsibilities.

How to Handle Outstanding Contracts When You Sell Your Business

You have a handful of options for handling your outstanding contractual obligations during a business sale. Mainly, you can seek a novation or an assignment to discharge or mitigate your responsibilities.  

Contract Novations

Contract novations can be the most solid way to make a clean break between your former business and its customers and vendors. In a contract novation, you, the other party to your original contract, and the buyer of your business can agree that your buyer will take over your responsibilities, and you will no longer be liable to your customer or vendor. With this method, you’re basically writing a new contract

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 Posted on June 13, 2022 in Uncategorized

You may have grounds to dispute a business lease, depending on the situation. Grounds for disputing a business lease include:

• Inadequate notice to voting members;
• Lack of authority to sign the business lease; and
• Unfavorable lease terms.

A business dispute may also arise if those entitled to vote on the lease did not receive a fair opportunity to do so. If the parties cannot resolve the business lease dispute outside of court, they can bring a lawsuit.

Those disputing a business lease should contact an experienced business attorney who can help you understand your legal rights.

Inadequate Notice to Voting Members

Ultimately, the business’s bylaws or operating agreement dictate the amount and type of notice that the voting members receive. If the voting members didn’t have critical information for an informed vote on the transaction, this could form the basis for a dispute.

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 Posted on April 25, 2022 in Uncategorized

Starting or joining a business venture is an exciting endeavor. With the hustle and bustle of starting a business, owners may not put together a formal operating agreement. It may not seem necessary at the time, or it may seem too time-consuming or costly

But if a conflict arises, how is the business dispute handled if there is no operating agreement? Broadly speaking, the default terms of Wisconsin’s limited liability company act (LLC Act) governs anything not covered in an operating agreement. Below, we’ll talk about common business disputes, the default rules, and the purpose of an operating agreement.  

If you’re involved in a business dispute with no operating agreement in place, reach out to one of our experienced business litigation attorneys to understand your options and rights

What Are the Most Common Business Disputes for an LLC?

The beauty of a Wisconsin LLC is the flexibility it provides. More or less, an operating agreement allows owners to tailor an operating structure that works best for their business needs. Unfortunately, that flexibility can be a benefit and a burden. And even with an agreement in place, disputes might still arise.

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