We have all heard the stories. A long-lost aunt or uncle dies with no heirs, and their mansion and riches sit abandoned, waiting only for some distant relative to claim them. Unfortunately, fantastical claims like this have little connection to reality. While the Wisconsin Department of Revenue (DOR) holds over $600 million in unclaimed property, real estate is not...
Continue ReadingWisconsin recently enacted new laws for LLCs, which will take effect January 1, 2023. The updated laws are intended to modernize Wisconsin’s business entity laws, harmonizing them with each other and making Wisconsin a more attractive place to do business. Businesses and holding companies operating as Wisconsin LLCs should pay very close attention to these changes, a few of...
Continue ReadingWisconsin business owners know that honoring contracts is the bedrock of doing business. Whether you need a solid understanding of contract law to help run your business or need to understand how you can prove breach of contract after a deal goes bad, the team at Mallery s.c. can help. In this post, we will explain the basics of...
Continue ReadingWith the United States and the rest of the globe experiencing economic downturns, many distributors and suppliers are questioning whether they can perform under their existing contracts. Likewise, consumers are wondering if they’ll receive what they purchased online. Supply chain issues are rampant, affecting the availability of infant formula, cat food, and any number of products and services. Force...
Continue ReadingMost business enterprises operate on a foundation of contracts. Vendor agreements, employment agreements, stockholder contracts, commercial deals, and more create a complex network of features that comprise and support the business. With each contract, the potential for growth and disputes are ever-present. While business owners can’t eliminate the possibility for conflict to arise, smart entrepreneurs can take steps to...
Continue ReadingThey say that teamwork makes the dream work. In fact, many of America’s most successful small businesses were founded by teams of two, many with no partnership agreement in place when they were first formed. Some of these dynamic duos went on to lead the world’s most lucrative companies. However, not every casual business partnership will end with its...
Continue ReadingPartners can create a partnership easily—often with nothing more than a handshake or a plan written down on the back of a napkin. However, the trade-off for that ease is that partnerships can often be more difficult to end, especially when only one partner wants out. In many cases, when the economy or business circumstances change, entrepreneurs find themselves...
Continue ReadingAs your business relationships become more complex, it becomes increasingly important to understand what makes a contract legally binding in Wisconsin. This will help you better assess risk, manage your liabilities, and understand your rights and obligations. Contracts are legally enforceable promises. Laws concerning contract formation in Wisconsin are meant to facilitate commercial transactions and prevent underhanded dealing. Generally,...
Continue ReadingIf you’ve invested your hard-earned money in real estate, the last thing you want is for a legal claim to wipe out your investment and undo your hard work. Asset protection in real estate is a way to insulate your investment and personal finances from outside claims. For example, you can put the real estate in a limited liability...
Continue ReadingParties 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...
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