The State of the Equipment Industry – IEDA Presentation 2023
James Waite presents on The State of the Equipment Industry from an economic outlook and how to better prepare for what is to come.
Articles
Marijuana & Employment Law: Dazed & Confused
An equipment industry client asked the following question: Can my employees use marijuana? If so, when, where, and what can I do about it? Generally: the answer depends largely on where and for whom you are working. LEGALITY: FEDERAL LAW: Marijuana use
The Case for a Bill of Sale
Question: I sell new and used equipment. I usually don’t have buyers sign a separate contract or bill of sale because I have a provision in my rental contract that I believe covers sales. Is that enough or is there some reason I need
Buying Assets or Equity
Question: I’m considering buying a competing equipment dealership. I’m being told that I should buy the assets rather than the equity of the target business because, if I do that, my company won’t assume any of the seller’s liabilities. Is that true? Answer: For most business
Understanding Incoterms: What you should watch for when buying equipment
Question: I’m buying some equipment, and the shipping terms in the purchase agreement refer to “EXW Incoterms 2020.” I’m generally familiar with “Incoterms,” but I don’t really have a lot of time to study what each one means. Can you give me a summary of
Enforcing Payment for Goods, Services and Rentals
Question: I’ve rented and sold equipment to a customer for construction work, but I haven’t been paid. Can I file a mechanic’s lien on my own to get the money I’m owed? Answer: Yes, but the requirements are highly technical and strict. If you miss
State Dealer Laws : James Waite Advises on Dealer Agreements
Question: “We have operations in multiple states. How can we prepare a single form of Dealer Agreement enforceable in each of those states?” James Waite’s Answers: You and/or your attorney must review each state’s dealer and in some cases, franchise laws to determine whether
Protecting yourself from Customer Bankruptcies
Question: I just had two large customers file bankruptcy. One of them was making payments on a rental that included an informal purchase option — just some notes written on the face of a rental contract; the other owes me more than $50,000 on a
Resolving Payment Disputes
Question: I rented a piece of equipment to a customer without first getting his signature on my rental contract. The equipment was vandalized, and I charged the customer’s credit card for the cost of the repair. The customer disputed the charge, and the credit card