October 18, 2017

Non-Monetary Default: A Potential Bankruptcy Time Bomb

Everyone knows that in the event payments are missed, there has been a default. ¬†However, many business people overlook the fact that there can and often are other contract provisions that do not involve the payment of money which can trigger a default. ¬†These are known as non-monetary defaults. Bank loan agreements, leases, and other types of commercial contracts provide for events of default … [Read more...]