Articles Posted in Business Law

1. What Are the Differences Between the Option to Purchase, ROFR, and ROFO Clauses? There are three approaches to giving a tenant rights to purchase property: an option to purchase, a right of first refusal, and a right of first offer. An option to purchase is a fixed right, where a tenant may purchase property…

Does Georgia Law Require Written Leases? Georgia law does not require written leases for agreements of one year or less. If the rental agreement extends one year, then a written lease is required. Oral agreements are legal in the state of Georgia, however, formal written agreements are recommended. Georgia law requires that the rental property…

1. What Is an Insurance Agreement? What Is Risk in Context With Insurance? Insurance is a contracted agreement, where the insurer takes on the risk of a financial loss incurred by the insured. The insurer provides the assurance that the loss will be covered and the insured is who receives the protection. In the insurance…

1. What Is Fraud? Fraud occurs when the accused makes false statements to manipulate the other party into a transaction or when the party charged with fraud withholds particular information from the other party to manipulate the other party into a transaction. In a shorter term, the accused will manipulate a situation to enter a…

1. How Can You Avoid Litigation in Disputes? Resolving disputes without litigation can save valuable time and resources. A company would have to spend its time and resources on investigating and responding to claims and a legal dispute can negatively influence a company’s reputation. That is why it is important to react to claims as…

1. What Does the Relationship Between Business Tort Claims and Contract Claims Look Like? Business tort claims is that it addresses civil wrongs in a business or commercial relationships. Contract claims address an agreement between parties. In many cases, business tort claims and contract claims are linked because a business relationship and its responsibilities are…

1. What Are Expansion Rights? Essentially, an expansion clause is a negotiable clause in a lease that allows the tenant a right to expand within the building they are leasing. There are three provisions that allow the tenant to expand the leased property: the option to expand, right of first refusal, and the right of…

1. In Georgia, What Are the Relevant Statutes and Regulations for Residential and Commercial Transactions? The statutes and regulations of residential transactions are written in Ga. Code Ann. §§ 44-7-30 through 44-7-37. There are no provisions for commercial transactions. This article discusses nonrefundable fees, residential rental agreements, and security deposits. A nonrefundable fee is any…

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