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A record-setting wet spring, fluctuating commodity prices, tariffs, and rising input costs are just a few of the pressing challenges for farmers and ag-related businesses. While the federal and state governments are being supportive of Michigan farmers as they face during this difficult time, providing disaster relief, crop insurance flexibility and loan programs, the reality is that many farms and agribusinesses are facing money troubles beyond the relief offered by these programs.
On November 6, 2018, Michigan became the tenth state to legalize cannabis for recreational use, known as Proposal 1 (“Prop 1”). Prop 1 legalized, among other things, the consumption of cannabis for individuals 21 years or older, allows individuals to grow up to 12 cannabis plants, and permits an individual to possess up to 2.5 ounces of consumable cannabis on their person with up to 10 ounces stored at a person’s residence subject to certain storage requirements.
Given these often conflicting interests, landlords must strategically plan and carefully negotiate lease terms that will allow them to mortgage leased property. This means taking the steps necessary to make a transaction appealing to a lender while reducing the risk that a tenant could hold a financing deal hostage.
However, in many cases coverage disputes between you and your insurance company can be avoided. Before problems arise, it helps to understand your coverage, your needs, and any obligations your policies impose on you
Attorney Julie Fershtman explains the art of mentoring in this DBusiness article.
Most commercial leases, like other business contracts, are filled with provisions (often called “boilerplate”) the parties to the contract pay little attention to; that is, until a dispute arises. At that point, these provisions become critical to the outcome.
There is nothing quite like obtaining a new customer or getting a new big sale - the prospect of recurring revenue from a new source, the validation of business strategy, or the culmination of a successful negotiation. However, there is nothing more disheartening than when a new customer is unable or unwilling to pay for the product you just shipped or services you just provided. Perhaps there is one thing that is worse, when a long-term customer fails to pay.
