Texas LLC Operating Agreement Explained Therefore, for the reasons mentioned above, we regularly plead in our LLC formation documents that the Texas LLC Operating Agreement is a binding agreement on each of its terms on each of the members, and the LLC should be operated in accordance with those terms. In the same vein, we […]

What is a Personal Guaranty Agreement? A personal guaranty agreement is a legally binding contract that obligates an individual to become responsible for a borrower’s debt in the event that the borrower fails to meet the loan’s repayment terms. The borrower—the person or organization borrowing the funds—could be a corporation, partnership, or LLC, and the […]

A Summary of Missouri Housing Laws In Missouri, housing laws are designed to ensure that all residential properties meet certain standards of safety, habitability, and health. These laws apply to both landlords and tenants alike and cover a wide range of issues, from the condition of the property to how securities deposits are handled. While […]

The Party: Who in the World Is This Person? A common question contract lawyers are often asked is, ‘What exactly is a party?’ A party to a contract could be a person, group of people, or an organisational entity such as a company, local authority, charity or a government department. A party must be a […]

What is a Factoring Agreement? A factoring agreement is considered to be a basic part of running a factoring business. A factoring agreement for clients sets forth the key business arrangements within a factoring relationship and is increasingly subject to negotiation in the factoring industry, as well as part of the basis for drafting agreements […]

What is Entrapment? Definition and Framework Entrapment in law refers to the act of tricking or coercing a person into committing a crime they would not have otherwise committed. In its simplest legal terms, the concept of entrapment relies on two key definitions: one, that the crime has been committed, and two, that the means […]