StokesLaw™ Briefs

On June 11, 2020, a new Washington state law governing payment of bonus incentives and commission plans will go into effect. Rachael Wallace explains what the employer requirements will be under the new provisions.

Tom Lerner provides links to important information regarding the Paycheck Protection Program.

The Paycheck Protection Program (the "Program") under the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") creates a new $349 billion Small Business Act ("SBA") loan program for eligible organizations. Claire Taylor and Dustin Yeager provide details.

The guidance from the State of Washington (and other state and local governments) to work from home or shut down many local businesses has caused ripple effects on contract performance and enforcement from the inability to pay rent under leases, to the slow down or halt in construction activities and the failure to meet financial targets for lease-up and investment returns. Eric Robinson and Serena Sayani discuss whether the "force majeure" clause the answer.

Economic Injury Disaster Loans (EIDLs) are available through the U.S. Small Business Administration (SBA) for eligible small businesses, private nonprofit organizations, and small agricultural cooperatives. Dustin Yeager provides details.

In Part 2 of this series on buying and selling a business, Olivia Gonzalez reviews the key provisions included in a letter of intent.