Time is of the essence provisions frequently appear in contracts. This phrase has an important legal meaning that you should understand before agreeing to the contract. If a contract contains the provision that "time is of the essence" it means that every delay in performance of the contract is intended to constitute a material breach of the contract, thereby excusing the other party from its obligations under the contract. In construction, that can mean that if you are delay

We've been hearing some strange interpretations of the law regarding mechanic's liens, so we thought we would post answers to a few common questions. Q: Is there a dollar limit on how much I can put on my mechanic's lien? A: Your mechanic's lien should reflect the amount of money that you are owed and have not been paid. You cannot record a mechanic's lien for an amount that you know to be incorrect. There is no statutory limit to the amount of money you can record a mechan

If you receive a payment which can be applied against one of multiple open accounts or invoices, how you apply the payment can impact...

It has become standard practice that property owners and contractors often require their contractors, subcontractors, and suppliers to...