Long Beach Real Estate Attorneys & Lawyers

What Is a Condition Subsequent?

A condition subsequent (CS) is an exit clause from an existing contract. The agreement between parties includes language that frees one of them from the deal. This happens when a conditional outcome occurs. A CS relieves a party of all obligations.

What's the Purpose of a Condition Subsequent?

Think of a condition subsequent as an escape clause. It ends a party's contractual obligation. In contracts, all involved parties have certain responsibilities. The CS gives one party the ability to walk away from their promise to perform a duty.

A CS is a kind of insurance for one or more parties. It makes sure that one of the groups in the contract can leave when certain conditions are met.

Think of a contract as a

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Updated August 30, 2022:

What Is Cyber Law?

Cyber law is any law that applies to the internet and internet-related technologies. Cyber law is one of the newest areas of the legal system. This is because internet technology develops at such a rapid pace. Cyber law provides legal protections to people using the internet. This includes both businesses and everyday citizens. Understanding cyber law is of the utmost importance to anyone who uses the internet. Cyber Law has also been referred to as the "law of the internet."

Cybercrime and Cybersecurity

Areas that are related to cyber law include cybercrime and cybersecurity. With the right cybersecurity, businesses and people can protect themselves from cybercrime. Cybersecurity looks to address weaknesses in computers and networks. The International Cyberse

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Updated July 20, 2020: 

What Is Preferred Return?

A preferred return—simply called pref—describes the claim on profits given to preferred investors in a project. The preferred investors will be the first to receive returns up to a certain percentage, generally 8 to 10 percent. Once you reach this profit percentage, the excess profits are split among the rest of the investors as agreed upon in negotiations. This type of return is most commonly used in real estate investment.

How Is the Preferred Return Calculated?

There are three main questions when it comes to calculating the preferred return:

• Is it compounded or non-compounded? Compounded means that the calculation of a preferred return periodic growth amount comes from the amount of invested capital plus all previously earned but unpaid amounts.

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What Is the Key Man Clause?

A key man clause (or key person clause) says that when certain executives of an investment firm are absent, the firm cannot make any new investments until they replace them. Investments need constant watching. Therefore, it's important for investment firms to always have someone in charge.

Key man clauses trigger anytime the executives named by the clause aren't spending enough time managing the firm's investments. This can happen if the executive:

• Dies
• Suffers a permanent or long-term disability
• Spends too much time at another job
• Quits or is fired
• Is convicted of a serious crime

Whatever the cause happens to be, if the executive can't do his or her job, the key man clause puts investing on hold at the very least. Sometimes it means the investment firm has to end, depending on how big the firm is and how important the key person was. Wh

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Net 30: What Is it?

Net 30 is an invoice payment phrase that means the customer must pay the entirety of their bill in 30 days or fewer. Often if the customer does not pay within the 30 day period, interest is charged.

Not all clients will understand what net 30 means, so it is important to make a note somewhere on the invoice to let first-time clients know what is expected. If you have not received payment and the deadline for the net 30 payment is approaching, it is good practice to issue a reminder to your customer.

Advantages of Offering Net 30

• As the seller, offering Net 30 to your customers shows that you trust them. Some large companies and government agencies demand Net 30 terms from their suppliers, so offering Net 30 terms to your clients allows you to maintain a competitive edge against other businesses in your niche.

• As the customer, Net 30 is great

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