Recent News

Many “good ideas” today take direction from other “good ideas” before them. This blog, for example, takes inspiration from other “bloggers” in the legal community, such as my friend Tom Rutledge, an expert in business entity law from Kentucky. I will certainly refer to Mr. Rutledge’s blog in future posts as he offers unique insight… Read More

The Big Dipper is a club in Spokane known for its lively music and fantastic atmosphere. Unfortunately, it became the center of an ugly dispute between co-owners (and friends), which culminated in (almost certainly) the end of a friendship and the recent unpublished appellate decision, Brower v. Hoerner, No. 36442-9-III, 2020 WL 1282511 (Wn. App.… Read More

Earlier today—June 17, 2020—the Small Business Administration (“SBA”) posted a new loan forgiveness application for recipients of a Paycheck Protection Program (“PPP”) loan.  In May, the SBA released their first application, which I (very briefly) noted here. The SBA updated the new application so as to align with the recent changes to the PPP legislation. … Read More

Recently, Congress passed, and the President signed into law, the Paycheck Protection Flexibility Act (the “Flexibility Act”), which modifies the Paycheck Protection Program (the “PPP”) as set out in the original CARES Act. The Flexibility Act replaces certain provisions of the PPP, while enhancing other PPP provisions.  Significantly, the Flexibility Act makes the following changes… Read More

Beresford Booth has actively monitored the latest developments in the Paycheck Protection Program (“PPP”) along with the process by which PPP loans will be forgiven.  Last week, I gave a webinar discussing PPP loan forgiveness and its various aspects.  It can be found here. In addition to this presentation, I recently found a helpful website… Read More

Recently, the Small Business Administration (“SBA”) released a new application for businesses to apply for loan forgiveness if they received a Paycheck Protection Program (“PPP”) loan.  The application is helpful as it provides insight as to how forgiveness will be calculated.  You can find the application here. However, many business owners still hold questions regarding… Read More

Earlier today (May 13), the Small Business Administration (“SBA”) released important guidance regarding Paycheck Protection Program (“PPP”) loan recipients.  Recipients of PPP loans were required to certify that they applied for the loan in “good faith” in order to avoid criminal prosecution. Today’s guidance places those who received less than $2 million in PPP funds… Read More

This post is the final in a series of three discussing some of the basic principles of Washington LLCs and the default rules of the Washington Limited Liability Company Act, RCW 25.15 (the “Act”).  The previous two posts discussed the “pick your partner” principle and member dissociation and withdrawal.  This final post in the series… Read More

The first step in negotiating the purchase and sale of a business or its assets is to execute a letter of intent.  The letter of intent stipulates the “big picture” terms of the agreement.  These terms include naming all parties to the agreement, defining the assets being purchased, and the purchase price.  The “big picture”… Read More