Commercial Law
Commercial Law
Commercial Law
Trying to Collect Money Owed to Your Company?
When your business has delinquent debts, you may need help. Your law firm might be able to assist you in collecting money owed on past due accounts, unpaid promissory notes, judgments and other debts. In many cases, the prospect of legal action by a law firm results in quick recovery of money owed to your […]
Commercial Law
Protect Receivables From the Outset
When trying to collect money from people who owe your company, you’ve undoubtedly heard these declarations: “The check is in the mail.” “Give me a call next month.” “There must be some mistake.” What’s the real objective of these delinquent customers? In a word, it’s often “delay.” The debtors are trying to buy time — […]
Commercial Law
Disclaiming Responsibility in Contracts
Contracts are part of everyday business, whether it’s the minuscule print on the back of a credit card bill or an agreement to buy office furniture. With your customers, contracts can be letter agreements, or six page documents, depending on whether the deal is simple or complex. But no matter what you’re agreeing on, one […]
Commercial Law
How Consumer Protection Laws Affect Your Business
In the “good old days,” owners of honestly-run businesses had little reason to fear the law. “Caveat emptor,” or let the buyer beware, was the norm. Contract laws, particularly those involving warranties, provided consumers with the ability to sue under some circumstances, but it was relatively easy for companies to avoid the long arm of […]
Commercial Law
DOs and DON’Ts to Help Avoid Collection Problems
Many companies run into problems with customers or clients not paying their bills on time — or not paying at all. The best way to avoid uncollectible bills depends on several factors — such as whether you sell products or services and the type of payment practices that are customary in your industry. For example, […]
Commercial Law
Federal Requirements When a Product is Dangerous
Recalling defective products can be expensive and it may be tempting for manufacturers to ignore flaws. But that can be more costly in the long run, both in financial and human terms. Under the Consumer Product Safety Act, manufacturers, distributors and retailers must immediately report to the U.S. Consumer Product Safety Commission products with a […]
Commercial Law
Use Credit Reports Legally
Credit reports can help your company make a wide range of decisions, from extending credit to offering employment. And regardless of how you use the reports, the Fair Credit Reporting Act requires you to tell applicants the reason if the data results in an application being denied. Section 615 of the Fair Credit Reporting Act […]
Commercial Law
Granting Credit With Installment Payments
In these economic times, many businesses have seen the benefits of allowing customers to make installment payments. With low interest rates, installment sales contracts have become an important tool for companies looking for ways to boost sluggish sales. In some court cases, consumers’ installment contracts have been ruled unenforceable under the “doctrine of unconscionability.” This […]
Commercial Law