What is a fiduciary duty?

A fiduciary duty is like the “golden rule,” whereas we are required to “treat others how we would like to be treated” within the scope of a professional relationship.

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Is a hypothetical promise enforceable?

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.”

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Adhesion Contracts – What are they?

Adam Keilen A contract of adhesion is a standard form drafted by one party, usually a party with stronger bargaining power, and signed by the other party, usually a party…

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What constitutes acceptance of an offer?

Adam Keilen When it comes to contracts, under Michigan common law, what constitutes acceptance of an offer? Under M Civ JI § 142.13, Acceptance, acceptance is a statement or conduct…

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Buy-Sell Agreements

Adam Keilen Questions Surrounding Buy-Sell Agreements. What happens when one partner is ready to exit the business? What are they entitled to? What are the surrounding terms and conditions of…

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