– Legal Insights –
If you are expecting an inheritance, an estate planning tool known as a trust may prove useful, depending on your circumstances. Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance. Purpose of an Inheritor’s Trust...
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The Minnesota Court of Appeal’s decision in Safety Signs, LLC v. Niles-Wiese Const. Co., Inc., serves as a cautionary tale to any subcontractor or material supplier when a general contractor’s does not pay for work or materials contributed to a public project. The Public Contractors’ Performance and Payment Bond Act...
Understanding your insurance policies is vital to protecting your business. A recent Minnesota Supreme Court decision changes your rights and responsibilities in a typical commercial general liability (“CGL”) policy. If your business is sued, you should notify your insurer. It may provide an attorney to defend your company in the...
Whether you know it or not, intellectual property is a part of your business. By taking a thoughtful approach, and making a modest upfront investment, you can limit your exposure to potentially damaging claims against your brand and business AND identify ways to monetize these frequently overlooked intangible assets. Failing...
In effect since August 1, 2008, Minn. Stat. § 604.18 creates a direct cause of action by an insured against its own insurer if the insurer fails to act in good faith. Although four years have elapsed since its effective date, § 604.18 remains substantially undefined by Minnesota Courts. The...
Why Amend the Governing Documents? Associations considering an amendment to one or more of their governing documents will want to begin with an analysis of the community association’s existing documents, including identifying specific goals for any amended governing documents. If there is nothing to improve, there is nothing to gain....
Michael Eisner, once said, “It is rare to find a business partner who is selfless. If you are lucky it happens once in a lifetime.” Eisner himself, at least according to Roy E. Disney, was not necessarily a selfless business partner, as his removal from Disney’s chairmanship evidenced. Eisner’s maxim...
When a customer is negotiating a license agreement with a vendor, the customer undoubtedly contemplates factors such as how much it will have to pay and when, and what systems, applications and services the vendor will provide in return. While the customer certainly should contemplate these types of issues, due...
“What’s the difference between these two additional insured coverage certificates?” Both certificates covered claims for damages “caused in whole or in part by” the insured or someone acting on behalf of the insured. However, one certificate also covered damages “arising out of or caused in whole or in part by...
Storm season is upon us. Unfortunately that will mean property damage insurance claims for some property owners and managers. While it is impossible to understand why one property may suffer severe hail damage while another property down the street remains pristine, our role is not to question “why” but to...
Limitations of liability come in many different shapes and sizes and they are present in a vast majority of vendor and other commercial agreements. These provisions operate to exclude certain types of damages and place a cap on allowable damages. It is essential for customers to recognize that limitations of...