No License? No Luck! Tools of the Trade.
201304.27
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No License? No Luck! Tools of the Trade.

A party may be owed money for services they performed, however, if they do not have the proper license for their field of practice, they may be out of luck. Michigan’s Occupational Code (the “Code”) requires a license to engage in many professions (barber, cosmetologist, architect, real estate broker, residential building contractor). If a person…

Negotiate Now in Purchase Money Priority Cases
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Negotiate Now in Purchase Money Priority Cases

The effects of the housing bubble have been felt by just about everyone, and lenders are certainly no exception. And while “cutting one’s losses” brings joy to virtually no one, lenders are learning just how critical the timing and art of negotiation can be in realizing the best possible outcomes out of an imperfect set…

Legal Malpractice Actions Now Subject to Six-Year Statute of Repose
201304.24
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Legal Malpractice Actions Now Subject to Six-Year Statute of Repose

On January 2, 2013, the Michigan Legislature enacted new legislation that can have the effect of “trumping” the previous six-month discovery rule applicable to attorney malpractice claims. Previously, legal malpractice claims were subject to a two-year statute of limitations (two years from the last date of service performed by the attorney), with a six-month “discovery…