by Ron Holmes There is no doubt, at least from our perspective, the COVID-19 pause is taking its toll on commercial real estate development. The exceptions appear to be single-family lot development and single-family residential construction, both of which continue at a strong pace. I expect the pause to continue until the capital markets rebound …
Upon a tenant’s default for failure to pay rent, the typical lease agreement permits the landlord to either: (1) terminate the lease and repossess the leased premises, or (2) terminate the tenant’s right of possession of the leased premises without terminating the lease. In both scenarios, the landlord may enter the leased premises and re-key …
Game Changer Case Or Will the Texas Supreme Court’s Opinion on Standing in Pike v. TX EMC Mgmt., LLC (Tex. June 19, 2020) Simply Confuse Texas Courts? by J.D. Reed The Supreme Court of Texas recently held that a limited partner had individual standing to sue for its personal and separate alleged loss to the …
by Brian Fisher We have all likely seen the following conveyance language in deeds conveying real property in Texas: “…and all interest, if any, of Grantor in (i) strips or gores, if any, between such real property and abutting properties, (ii) any land lying in or under the bed of any street, alley, road, or …
by Ron Holmes – As I sit and ponder the legal fallout of COVID-19, several gnarly legal issues float through my brain (and, as it turns out, those of other legal ponderers). Below, I will address on a broad basis three of my favorites. Impossibility of Performance as a Defense Performance of a contract may …
by Scott A. Meyer – For those clients who understand the value of registered trademarks and copyrights as part of their intellectual property portfolios and the added goodwill positively impacting the value of their businesses, we’ve got even more good news for you. In addition to the added options to enforce your intellectual property rights …
Holmes Firm PC is proud to announce that Jennifer S. Stoddard joined the firm as a shareholder in June 2020. Jennifer focuses her practice on business transactions, including mergers and acquisitions, complex entity formations, finance and real estate transactions. In addition, she has 28 years of commercial litigation experience, so she is equally comfortable in …
by Scott A. Meyer Is your business reporting to credit agencies during the COVID-19 pandemic? As you are no doubt already aware, the Fair Credit Reporting Act requires that Equifax, Experian and TransUnion provide consumers with one (1) free annual report every twelve (12) months. We have recommended for some time to our clients that …
by Ron Holmes In making a PPP application, the applicant certifies that the applicant in good faith believes there is an economic necessity for the funds. There have not been any definitive guidelines on what constitutes “economic necessity.” As we had hoped (expected would be too strong a word), the SBA has now provided guidance. …
Business Expenses Paid with PPP Loan Funds May Not Be Deductible On April 30, 2020, the IRS issued Notice 2020-32 which provides that business expenses otherwise deductible will not be deductible if the Payroll Protection Program (PPP) loan used to pay such expenses is partially or completely forgiven. This makes business planning even more difficult. …