The Deal Coach Blog

Chickens and conditions precedent

A recent story reported in the New York Times – “A $250 Million Pledge to a College Evaporates as a Deal Collapses” -- is a great illustration of how conditions precedent work. According to the article:  "When tiny Centre College, in Danville, Ky., announced in July that it had received a $250...
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When is an asset not just an asset? Always

When a deal lawyer sees an asset, they don’t just see an asset, they see real estate, an account receivable, equipment, inventory, a trademark, a general intangible, or one of many other classifications. This urge to categorize isn’t due to our compulsive tendencies as lawyers (mostly), but is instead due to the...
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Procrastination: not a good strategy after graduation

In law school, procrastination may  work reasonably well as a time management strategy.  After all, with syllabi in hand, you can plot out your entire semester in advance, day by day and week by week.  If you choose to wait to do the reading for Wednesday's class until Tuesday night, it will...
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“as amended from time to time”

When you are making a reference in one contract to another contract, do you want to add the phrase "as amended from time to time"?  It depends on the circumstances.  For example, if you are drafting a covenant restricting the other party's actions, but are adding an exception to permit the other...
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Making lawyers better trainers

At the NALP/PDI conference that just ended, Ginny Melvin and I presented a program on making internal law firm trainers more effective teachers.   We handed out a document that included (a) a list of 50 basic questions (with answers) to use for assessing the practical knowledge level of junior deal lawyers, (b)...
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