Corporate records

When you organize your business as a corporation, there are certain record keeping requirements you must adhere to.

Components of a good contract

Business-to-business agreements should be in writing (personal agreements with friends and relatives also fall in the “put it in writing” category). If the contract touches a matter of any significance at all, then best to include all these components: The Parties Description of the goods or services to be procured Delivery/Performance Price and Payment Length […]

Put Your Agreements In Writing

Business-to-business agreements should be in writing (personal agreements with friends and relatives also fall in the “put it in writing” category). If the contract touches a matter of any significance at all, then best to include all these components: The Parties Description of the goods or services to be procured Delivery/Performance Price and Payment Length […]

What Do Most Troubled Companies Have In Common?

According to George Cloutier, most troubled companies “…have not implemented strong financial reporting. Small businesses fail to focus on the basics – doing your P.& L.’s [profit and loss statements] and paying attention to cash flow.” Read the entire article from this consultant at NY Times

A Deal Is A Deal

I have conversations with the indebted, (i.e. businesses and persons that are in default on a financial obligation) on a daily basis. They welched on a deal, and are often looking for a way out. Call me old fashioned (or naïve), but when you enter into an agreement and the other party has lived up […]

What is a “confession of judgment clause?”

Suppose that your customer owes you $50,000. Further suppose that your good friend the oil and gas well lien cannot help you since the debt is 12 months old. In order to avoid a breach of contract lawsuit, the debtor agrees to sign a promissory note, which provides for regular monthly payments on the principal […]

The Word On The Streets

In the last six months, I’ve repeatedly heard “we’ve never had a problem with bad debts until now.” Here are some tips: Be deliberate about your credit policy. Identify high-risk customers, and mitigate that risk wherever possible. Use up-front payments, personal guarantees, co-signors, accrued interest and liens. Start early. Amex sends me an electronic notice […]

Are You a Careful Steward?

Seneca (4 BC – 65 AD) said: It is not that we have so little time but that we lose so much. Life is long enough and our allotted portion generous enough for our most ambitious projects if we invest it all carefully. But when it is squandered through luxury and indifference, and spent for […]

On August 27, 2013, Gary Quinnett presented a legal seminar on commercial real estate issues. The attendees rated him "Excellent"