No one is perfect. This is why many of us have jobs. However, many mistakes are avoidable. REALLY AVOIDABLE.
These three cases are reminders to sweat the small stuff.
Bissell Street I, LLC v. Westbrook Partners LLC (New York): Parties that co-funded and worked together in the acquisition of a $139,000,000 real estate property failed to have the asset management agreements signed by the defendant responsible for managing the acquired asset.
Nationwide Agribusiness Insurance Co. (as subrogeee of SEM Minerals) v. USG Corporation (Illinois): USG failed to read the “fine print” when purchasing minerals and, therefore, contract terms adverse to USG were incorporated into the agreement.
Brickhouse Capital, LLC v. Coastal Crio AL LLC (Alabama): Plaintiff’s failure to read the agreement was inexcusable and, therefore, a fraudulent inducement claim could not be adequately pled.
In total, there is no such thing as being overly cautious and reviewing your documents one last time. Also, please remember that AI will not protect you from your mistakes. In fact, AI will amplify them.
David Seidman is the principal and founder of Seidman Law Group, LLC. He serves as outside general counsel for companies, which requires him to consider a diverse range of corporate, dispute resolution and avoidance, contract drafting and negotiation, and other issues. In particular, he has a significant amount of experience in hospitality law by representing third party management companies, owners, and developers.
He can be reached at david@seidmanlawgroup.com or 312-399-7390.
This blog post is not legal advice. Please consult an experienced attorney to assist with your legal issues.
Photo Credit: Restoration & Remediation Magazine
