A charitable remainder trust is an irrevocable trust that allows a donor to make a gift to a trust, then receive income from the trust during the donor’s lifetime.
In Michigan, when a “prenuptial agreement is clear and unambiguous; changed circumstances do not render its enforcement unfair and unreasonable. Accordingly, the agreement should be enforced.”
In contract law, an illusory promise is unenforceable due to indefiniteness, or lacking mutual obligation. For example, owner of a business forms an agreement to “pay for products if he feels like it.”
It depends. State law varies; however, generally, pursuant to the Restatement (Second) of Contracts § 110, certain contracts, subject to a statute, are not enforced unless there is a written memorandum or an applicable exception.
An enforceable noncompete requires legal consideration. Legal consideration means something was given, a legal value and bargained for exchange; in other words, “this for that.”
If you die without an estate plan, your loved ones may have to go through the probate court process, wasting time and money.
Litigation often involves scrutinized arguments over forum, dispute resolution, and limitation of liability clauses.
Under Michigan law, parties may enter into any contract, so long as the contract is not contrary to Michigan law and does not conflict with a public policy.
Lawyers are required to act in good faith when they file a lawsuit, or defend one. Ridiculous claims and defenses can result in unnecessary attorneys fees, thereby wasting time and resources.
Al is driving above the speed limit. Bob runs a red light, and smashes into Al. Al suffers serious injuries as a result of the automobile accident. Al sues Bob. At trial, it is determined that Al was 20% at fault, and Bob was 80% at fault.