Business Law for Banks 101: Non-Compete Agreements
With the recent flood of mergers and acquisitions in the banking industry and the ever present movement of bankers from one bank to the next, non-compete agreements are being used more now than ever before. However, despite their wide spread use, many bankers do not have a clear idea whether and to what extent non-competes […]
Overview of 2014 Tax Increase Prevention Act
In the recently enacted “Tax Increase Prevention Act of 2014,” Congress has once again extended a package of expired or expiring individual, business, and energy provisions known as “extenders.” The extenders are a varied assortment of more than 50 individual and business tax deductions, tax credits, and other tax-saving laws which have been on the […]
Unenforceable Terms of Use will leave your business at risk
Most websites contain Terms of Use intended to limit permissible behavior by the website’s users and to manage legal risks from any user interaction with the website, including liability for data breaches. This is typically accomplished through restrictions on use, warranty disclaimers, user indemnity obligations for intellectual property infringement, limitations of liability, and arbitration clauses. […]
Now You See Em’, Now You Don’t: Solving the Problem of the Disappearing Debtor
Isn’t it fascinating how the same individual who acts like your best friend when seeking a loan suddenly falls off the map once a default has occurred? This can range from the debtor being sluggish in returning phone calls, to literally hiding from the bank for days or weeks on end. Apart from the problem […]
Marital bliss sacrificed to defraud bank
The lengths some debtors will go to avoid paying what they owe. Having a debtor shift assets to avoid paying a debt is nothing new to bankers. Whether this takes the form of a debtor transferring assets into a trust, “selling” valuable property to a straw man, or simply “gifting” the property to family members, […]
I’m Not Liable – It was the weather!
In the absence of a tornado, flood, hurricane, earthquake, tsunami, or other “Act of God,” and without a specific contract provision on point, the contractor bears the risk of delays and additional costs associated with adverse weather. Even in the unlikely event of an Act of God, the contractor will not be entitled to additional […]
South Minneapolis New Construction and Demolition Moratorium
An interim ordinance was proposed and adopted by the Minneapolis City Council on March 7, 2014 that puts a halt to the demolition or new construction of single and two-family homes in the Linden Hills, Fulton, Armatage, Kenny and Lynnhurst neighborhoods of Minneapolis. This interim ordinance is effective immediately and may establish a moratorium for […]
Don’t lose your rights to full profits on lost volume sales
If your business sells goods that scale, you may be what the law identifies as a “Lost Volume Seller.” Your status as a Lost Volume Seller carries with it some very special rights. Unfortunately, many merchants unwittingly give up these rights by failing to take a simple precaution at the time they enter into the […]
Equal opportunities for student-athletes with disabilities
U.S. Department of Education Guides School Districts in Providing Equal Opportunities to Student-Athletes with Disabilities Earlier this year, the Department of Education’s Office for Civil Rights (“OCR”) issued guidelines clarifying school districts’ existing legal obligations to provide students with disabilities equal access to extracurricular athletic activities.1 The OCR noted that because extracurricular athletics are an important component […]
Minnesota’s Parental Leave Act expanded
Minnesota provides family and medical leave protection to both public and private employees through its Parental Leave Act. Minnesota’s Parental Leave Act is the state version of the federal Family and Medical Leave Act, which provides up to 12 weeks of unpaid leave to employees to care for the serious health condition of the employee, […]