Connecticut Contractors beware, that cartoon was reality for one of your peers, and cost him a ton of money. A recent Connecticut Supreme Court decision (meaning it’s the law of the state) took away a contractor’s $214,039 court judgment it had won for services it had performed for a homeowner. You can read the decision here.
You want a non-competition or non-solicitation agreement your company can enforce, right? Stupid question, you say. Well, companies need to analyze the language in their contracts if that's their goal (some agreements I've seen make me doubt what the company's goal was, as if simply having something signed protected them.)
The powerball jackpot is all the buzz. Besides thinking - just a little - about what I'd do with the money, I am also thinking about contracts to share in the winnings. You see, the alumni Facebook page for my college (Go Bonas!) has a feed where alumni purchase a ticket from their state and post it to the page, and agree to share the winnings. One alumnus posted the terms of the "sharing" agreement:
Small businesses often call us and ask if they should cash a check they received from a purchaser or customer that still owes them money. Somewhere at some point they heard that if you do, you are accepting that amount in full satisfaction of the debt, and lose the right to collect any remaining balance. The legal term for this is "accord and satisfaction." Since it comes up so often, we want small businesses to understand a little bit about the concept. "Accord" basically means an agreement. And "satisfaction" in this scenario means exactly that: to satisfy the agreement, or to perfo