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Newsletter + Legal Alerts
Mike King’s Corner: Credit Policies – Back to Basics!
Author: Mike King
Issue: November 21, 2018
QUESTION: WHAT IN THE WORLD ARE “CREDIT POLICIES” AND WHY DO WE NEED THEM?
ANSWER: CREDIT POLICIES ARE LONG-TERM GUIDELINES AND PLANS FOR YOUR BUSINESS. WITHOUT THEM, YOU RISK THE FUTURE OF YOUR BUSINESS THROUGH LOST SALES, BAD DEBT WRITE OFFS, OR BOTH.
You need to establish, implement and communicate effective credit policies throughout your organization. Credit policies need to be practical. You should not create policies if you or your business do not intend to follow them. Your credit policies must “fit your business.” They must work in the “real world” as it exists today.
Mike King’s Corner: E-Sign…or Not?
Author: Mike King
Issue: September 20, 2018
QUESTION: DO I HAVE AN ENFORCEABLE ELECTRONIC AGREEMENT WITH A VALID ELECTRONIC SIGNATURE, OR NOT?
ANSWER: WHEN SOMEONE DENIES THEY INTENDED TO SIGN AN ELECTRONIC DOCUMENT, IT CAN BE DIFFICULT TO ENFORCE AN ELECTRONIC AGREEMENT.
The problem in determining whether there is a valid electronic signature is similar to the age-old problem of proving that someone’s signature is genuine when that party denies that he or she signed the document. With the written signature, you would need handwriting experts to prove the authenticity.
Mike King’s Corner: Elusive Electronic Contracts
Author: Mike King
Issue: August 14, 2018
QUESTION: WHAT DO YOU GET WHEN YOU SELL A MOVIE, A SODA, SOME CANDY AND GIVE AWAY FREE MAGAZINES?
ANSWER: A MULTI-MILLION DOLLAR CLASS ACTION SUIT IF YOUR ELECTRONIC CONTRACT IS NOT WELL-PREPARED!
Movie night with a bonus?
On October 29, 2004, Christina Labajo bought the movie “White Chicks-Unrated,” along with a Dr. Pepper and peanut M&Ms at Best Buy. Labajo v. Best Buy Stores, L.P., 478 F. Supp. 2d 523 (U.S.. S.D.N.Y., 2007). She went to pay for the purchase with her debit card and was told by the sales clerk that she could get a free subscription to Sports Illustrated.
