Category: Contract Review

Key provisions of an Operating Agreement.

An earlier post discusses the formation of a limited liability company (“LLC”). As that post explains, the process includes creating an Operating Agreement for the company. The agreement will cover many issues, but in particular you want to consider the following. Naming the members and their percent of ownership The Operating Agreement should name the [..]

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What should I look for before signing a lease?

Lease You are about to sign a lease for property. Whether it is residential or commercial property, you should look for certain key provisions and be sure you understand them. Term The word “term” simply means how long the lease will be in effect. You want to know how long you have to keep leasing [..]

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Do I need a written contract?

This question should be examined in two ways. First, does the law require that the agreement in question be put into writing in order to be enforceable? Second, as a practical matter, should you put the agreement in writing to protect yourself down the road should the other party fail to perform? In Mississippi, there [..]

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