"Win or lose, do it fairly." –Knute Rockne What is Arbitration? Arbitration clauses are found in contracts for car purchases, home construction, bank accounts, student loans, cell phones, employment, nursing homes, and more. It is a private procedure in which a legal dispute is submitted to make a binding decision on the dispute. When arbitration is mandatory it deprives of the opportunity to go to court. It can Read More
How can we create a better contract?
Contracts are used to control conduct, usually with incentives and penalties to ensure the desired outcome. Penalties and incentives place the focus on the desired outcomes, rather than what might make the best practical sense to serve the best interests and circumstances of those involved. For example, contracts that provide incentives for volume or higher prices, rather than quality or value, may lead to Read More
COVID-19 & Business Insurance: Coverage of Business Income Loss
As I mentioned in our May 2020 Blog, the COVID-19 pandemic has generated concerns about many types of agreements. This month I decided to focus on business interruption in commercial insurance policies, also known as business income loss coverage. A bit of insight into the world of insurance may help you successfully pursue a claim to cover the loss incurred due to COVID-19. Of course, much of the insight comes Read More
