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Business Transaction Newsletter – November 2016
February 7th, 2017 •
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CONTRACTS CAN BE RESCINDED FOR MUTUAL MISTAKE OF FACT It is well settled in Tennessee that courts have the power to alter the terms of a written contract where, at the time it was executed, both parties were operating under a mutual mistake of fact or law regarding a basic assumption underlying the bargain. … Read More
Employment Law Alert – November 2016
February 7th, 2017 •
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Temporary Injunction Puts Hold on New DOL Salary Increase Rule A Texas Federal judge has issued a Temporary Injunction on Federal DOL changes to the Fair Labor Standards Act (FLSA) rules affecting exempt workers paid on salary (primarily those with executive, administrative, and professional duties). These changes were supposed to become effective on Dec…. Read More
Estate Planning Newsletter – October 2016
February 7th, 2017 •
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WHAT IS THE DEFINITION OF “CHILDREN?” In the case of the Estate of Warren Elrod, the Tennessee Court of Appeals dealt with the issue of the definition of “Children” regarding the decedent’s IRA. In the IRA Adoption Agreement, the decedent provided that the beneficiary would be his wife, and the contingent beneficiary would be… Read More
Business Transaction Newsletter – September 2016
February 7th, 2017 •
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WHAT CONSTITUTES NOTICE TO TERMINATE A CONTRACT In the case of Wright vs. Dixon, the Tennessee Court of Appeals opined on the appropriate notice necessary to terminate a contract with a financing contingency provision set forth therein. In the Wright case, the Buyer/Plaintiff entered into an agreement to purchase real property. The contract was contingent… Read More
