In any successful business partnership, trust is not just expected; it's essential. When two or more individuals enter into a business venture, they assume legal and ethical obligations to one another. These obligations are referred to as “fiduciary duties,” and they form the foundation of professional cooperation. When a partner prioritizes personal interests over those of the business or the partnership, they may be in violation of these legal duties.

Under Colorado law, fiduciary duties often arise from formal agreements, such as partnership contracts or operating agreements. However, these responsibilities can also stem from the very nature of the relationship. In most partnerships, especially those where each party holds managerial authority, each partner is considered a fiduciary to the others. This means they are expected to act in good faith, exercise reasonable care, and put the success of the business before their own individual gain.

A breach of fiduciary duty can seriously disrupt a company’s operations and lead to legal disputes, financial loss, and reputational harm. Understanding what fiduciary duty entails and how violations are handled in Colorado is key to protecting your business interests.

Core Elements of Fiduciary Duty

Fiduciary duty encompasses several legal and ethical responsibilities that partners owe to one another and to the partnership as a whole. While these duties can vary slightly depending on the structure of the business and any governing documents, the most universally recognized include:

• Duty of Loyalty: Partners must not use company opportunities, confidential information, or business relationships for their personal benefit without consent.
• Duty of Care: Each partner is expected to make thoughtful, well-informed decisions and avoid reckless behavior that could harm the business.
• Duty of Good Faith and Fair Dealing: Partners must treat each other fairly, disclose relevant information, and avoid deceptive practices.

These duties require more than just avoiding outright theft or fraud; they demand proactive honesty and a shared commitment to the business’s well-being.

What Constitutes a Breach of Fiduciary Duty?

A breach occurs when a partner violates one or more of their fiduciary obligations, resulting in harm to the business or the other partner(s). These breaches can be obvious or subtle, and not all are easily detected. Below are some of the most common scenarios that lead to claims of fiduciary breach:

• Self-Dealing: A partner diverts a business opportunity, such as a valuable contract or new client, to themselves or a separate business they control.
• Misuse of Company Funds: Using partnership funds for personal expenses or failing to properly account for company spending.
• Failure to Disclose Conflicts of Interest: Keeping quiet about relationships or interests that could influence business decisions in a biased way.
• Unauthorized Business Actions: Entering into contracts, making financial decisions, or selling company assets without the required approval from other partners.
• Competing with the Partnership: Launching or assisting a rival business while still actively participating in the partnership.

These actions not only violate legal duties but can also damage the long-term success of the partnership. In many cases, the injured party may not realize the extent of the harm until after the business has suffered a major financial or reputational blow.

Legal Options When a Breach Occurs

If you suspect that your business partner has breached their fiduciary duty, it is crucial to take swift and informed action. Under Colorado law, you have the right to pursue legal remedies when your partner’s misconduct has harmed the partnership or your interests as a co-owner.

Depending on the severity of the breach, the following remedies may be available:

• Monetary Damages: Reimbursement for lost profits, devaluation of the business, or other measurable financial harm.
• Disgorgement: Forcing the breaching partner to return any personal profits earned from improper use of company resources or opportunities.
• Injunctive Relief: A court order preventing the partner from engaging in further misconduct or blocking certain transactions.
• Dissolution of the Partnership: In severe cases, dissolving the business entity and distributing assets accordingly.
• Removal or Buyout: Forcing the partner to leave the business or sell their ownership interest.

Colorado courts consider the facts of each case carefully. If the breach involved intentional misconduct or resulted in significant damage to the company, the court may impose punitive measures to prevent future harm.

If you’re unsure whether a breach has occurred, consulting with a legal professional can help clarify your situation. Our breach of fiduciary duty attorneys can investigate your case, examine financial records, and assess whether legal action is warranted.

Preventing Breaches with Strong Legal Agreements

One of the best ways to reduce the risk of a fiduciary breach is to clearly define each partner’s role, authority, and limitations in a written agreement. A well-drafted partnership agreement can serve as a roadmap for managing the business and resolving disputes before they escalate.

To prevent misunderstandings and minimize exposure, consider the following proactive steps:

• Create an operating or partnership agreement that outlines responsibilities, voting rights, and decision-making processes.
• Establish transparency around financial records with shared access to accounting software or regular financial reports.
• Include clauses requiring disclosure of conflicts of interest and approval of certain high-value transactions.
• Implement oversight through regular partner meetings and external audits when necessary.

While no contract can eliminate all risk, strong agreements can deter misconduct and provide a legal foundation for holding a partner accountable if something does go wrong.

Protecting Your Business When Trust Breaks Down

When a trusted business partner betrays their obligations, the impact can be both personal and professional. Many business owners feel blindsided when a longtime associate begins acting against the interests of the company. These situations require more than just emotional reactions; they require strategic legal guidance.

If you suspect wrongdoing, don’t delay in seeking legal support. The longer a breach continues, the more damage it can cause. With experienced counsel, you can uncover evidence, assess liability, and take steps to protect your business’s value and future.

If you’re dealing with a possible breach of fiduciary duty in your business partnership, contact us today to schedule a consultation. We’ll work with you to pursue accountability, secure your rights, and restore trust where it matters most.

Few things are more alarming for a government contractor than receiving a notice of default termination. If you’ve been awarded a federal contract, you’ve likely invested substantial time, personnel, and resources to fulfill your obligations. When an agency suddenly terminates that contract for default, it not only disrupts your business; it threatens your future in the federal contracting arena. Knowing how to respond quickly and strategically is essential.

At Downey & Associates, we help businesses throughout Denver and nationwide defend their rights when they face adverse actions under federal contracts. If you’re dealing with a termination for default (T4D), here’s what you need to know and what you should do immediately.

What Is a Termination for Default?

A termination for default occurs when a federal agency ends a contract because it believes the contractor has failed to meet key obligations. This could include missing deadlines, delivering subpar goods or services, failing to comply with contract terms, or any action the agency views as a material breach.

This is different from a termination for convenience, where the government ends the contract even if the contractor has done nothing wrong. While a termination for convenience allows for partial compensation, a termination for default can result in severe consequences, including financial penalties and negative performance ratings that could impact future awards.

Common Reasons Agencies Issue Default Terminations

Federal agencies are required to follow specific guidelines before terminating a contract for default. Some of the most common reasons they cite include:

• Failure to deliver goods or services on time
• Consistently substandard performance or deliverables
• Noncompliance with technical specifications or terms
• Failure to make progress on the project
• Violations of federal laws or regulations

Agencies often issue a “cure notice” or “show cause notice” before taking final action. These notices are a warning and an opportunity to explain or fix the issue. How you respond at this stage can determine whether the contract is salvaged or terminated.

Immediate Steps to Take After Receiving a Termination Notice

Once you receive a T4D notice, time is of the essence. Here’s what you should do:

1. Review the Contract and the Termination Notice Carefully

Start by reviewing your contract terms, especially the Federal Acquisition Regulation (FAR) clauses related to default (such as FAR 52.249-8 for fixed-price supply and service contracts). Compare the agency’s claims to the actual contractual requirements. In many cases, agencies incorrectly assert default when the contractor was acting within the contract’s scope or was delayed due to excusable causes.

2. Document Everything

Gather all records related to performance, including emails, delivery logs, progress reports, subcontractor communications, and change orders. This documentation can help prove that you fulfilled your obligations or that delays were caused by factors outside your control, such as government interference or supply chain disruptions.

3. Identify Excusable Delays

FAR allows for “excusable delays” in some situations, including extreme weather, acts of God, labor disputes, or other unforeseen events. If one of these conditions contributed to your inability to perform, it might negate the default. You’ll need strong documentation and timely communication to support this defense.

4. Respond Promptly to Cure or Show Cause Notices

Before finalizing a termination for default, agencies typically issue a cure notice (giving you time to correct deficiencies) or a show cause notice (asking you to explain why the contract should not be terminated). Respond to these notices with detailed explanations, supporting evidence, and a commitment to corrective action when appropriate. Your response should be strategic, factual, and professional; it will become part of the administrative record.

5. Consult a Federal Contracts Attorney

This is not a situation to handle alone. The stakes are high: a default termination can result in claims for excess reprocurement costs, contract debarment, and a black mark on your record with the System for Award Management (SAM). An attorney experienced in federal contract law can help you build a defense, prepare a formal dispute, or negotiate a conversion to a termination for convenience, which is far less damaging to your business.

Can You Appeal a Termination for Default?

Yes. Contractors have the right to challenge a termination for default by filing an appeal. You can appeal to either:

• The appropriate Board of Contract Appeals (such as the Civilian Board of Contract Appeals or Armed Services Board of Contract Appeals), or
• The U.S. Court of Federal Claims

Appeals must typically be filed within 90 days of the final decision (for Board of Contract Appeals cases) or within 12 months if filing in the Court of Federal Claims. Your appeal must clearly explain why the default was improper and present strong evidence that supports your position.

Why Early Legal Involvement Matters

Too often, contractors wait until the termination is finalized before seeking legal help. By that point, opportunities to correct or mitigate the situation may be lost. Involving a federal contracts attorney early allows you to evaluate your risk, respond appropriately to agency notices, and potentially resolve the issue without the need for formal litigation.

At Downey & Associates, we represent contractors across a wide range of industries who do business with federal agencies. Whether you’re a defense contractor, IT provider, construction firm, or SBA-certified small business, we know how to protect your rights and your reputation when things go wrong.

Call Downey & Associates Today for Legal Support

If you've received a cure notice, show cause letter, or a formal termination for default, we can help you assess the facts, develop a sound response strategy, and take decisive legal action. Our federal government contracts attorneys are here to help you challenge unjust actions and keep your business moving forward.

Don't let a default termination define your company’s future. Contact us today for a confidential consultation and take the first step toward protecting your government contract and your livelihood.

Understanding Property Tax Exemptions

Property taxes are a necessary part of homeownership and business operations, but they can be a significant financial burden. Fortunately, Colorado offers several property tax exemptions that help reduce these costs for qualifying homeowners, businesses, and organizations. If you own property in Colorado, it’s important to understand what exemptions are available and how they can benefit you.

Property tax exemptions work by lowering the taxable value of a property, which in turn decreases the amount owed to the local government. While exemptions don’t eliminate property taxes completely, they can lead to substantial savings. Homeowners who qualify may see hundreds or even thousands of dollars in tax reductions each year. Below, we’ll explore some of the most common exemptions in Colorado and how to take advantage of them.

Homestead Exemption for Seniors and Disabled Veterans

One of the most widely used property tax exemptions in Colorado is the Senior Property Tax Exemption. This exemption provides relief for residents who are 65 years or older and have lived in their primary residence for at least 10 consecutive years. It reduces the taxable value of the home by 50% of the first $200,000, which can lead to significant savings, especially for retirees living on a fixed income.

Similarly, the Disabled Veteran Property Tax Exemption offers a comparable benefit to veterans who have a 100% permanent service-connected disability. This exemption was created to assist veterans who have served their country and now face financial challenges due to their disability. Like the senior exemption, this benefit applies to 50% of the first $200,000 of a home’s value.

Both exemptions require an application through the local county assessor’s office. The deadline for applications is typically July 15 of the year in which the exemption is being claimed. If approved, the tax reduction will be reflected in the following year’s property tax bill. Because these exemptions apply only to a homeowner’s primary residence, second homes, vacation properties, and rental properties do not qualify.

Nonprofit Organization Property Tax Exemptions

Nonprofit organizations that own property in Colorado may also be eligible for a tax exemption. To qualify, the property must be used exclusively for religious, charitable, or educational purposes. This includes churches, schools, hospitals, and other nonprofit institutions that provide services to the community.

The nonprofit exemption is not automatic—organizations must submit an application to the Colorado Division of Property Taxation, providing documentation that proves their property is used solely for qualifying nonprofit activities. In some cases, an on-site inspection or additional paperwork may be required to confirm eligibility. Once approved, the organization can enjoy property tax savings indefinitely, as long as the property continues to be used for its intended nonprofit purpose.

Agricultural Property Tax Exemptions

Colorado offers a special property tax classification for agricultural landowners that can lead to lower tax rates. This exemption applies to land that is actively used for farming, ranching, or horticultural purposes. Agricultural properties are assessed based on their productive value rather than market value, which often results in a lower tax assessment.

To qualify for this exemption, landowners must prove that their property is being used for agricultural purposes. This often requires submitting evidence such as tax records, lease agreements, or documentation of crop or livestock production. Additionally, agricultural property owners may qualify for conservation easements, which provide additional tax benefits for land that is preserved for open space or environmental conservation.

Renewable Energy Property Tax Exemptions

In an effort to encourage sustainable energy solutions, Colorado provides property tax exemptions for homeowners and businesses that invest in renewable energy systems. If you have installed solar panels, wind turbines, or other renewable energy technology on your property, you may qualify for a property tax exemption that reduces or eliminates the added taxable value of the system.

This exemption ensures that installing solar panels or other energy-efficient systems will not increase a property owner’s tax burden. The exemption applies to both residential and commercial properties, making it an attractive option for individuals and businesses looking to lower energy costs while also benefiting from tax relief.

To claim this exemption, property owners must apply through their county assessor’s office, providing documentation of the renewable energy system installation. This exemption can lead to significant long-term savings, making renewable energy investments even more cost-effective.

How to Apply for a Property Tax Exemption in Colorado

Applying for a property tax exemption in Colorado requires submitting the appropriate forms and documentation to the relevant tax authority. The application process varies depending on the exemption type, but in most cases, homeowners and property owners must submit proof of eligibility by a specific deadline. Missing these deadlines can result in forfeiting the exemption for that tax year.

For homeowners applying for the Senior or Disabled Veteran Property Tax Exemption, applications are due by July 15 of the year in which the exemption will take effect. Forms can be obtained from the local county assessor’s office or downloaded online. In addition to completing the application, applicants must provide documentation proving age, residency, or veteran status.

Nonprofit organizations, agricultural property owners, and renewable energy system owners must follow separate application processes, which often involve submitting additional paperwork or supporting documents. If an application is denied, property owners may have the option to appeal the decision or provide additional evidence to prove eligibility.

Contact Downey & Associates Today

Understanding the different property tax exemptions available in Colorado can be overwhelming, especially when trying to determine eligibility and submitting the necessary paperwork. Mistakes in the application process can lead to missed opportunities for tax savings, which is why seeking professional guidance is often beneficial.

A property tax attorney can help ensure that you receive all the exemptions you qualify for and assist with appeals if an application is denied. Attorneys with experience in property tax law can also identify additional tax-saving opportunities that property owners may not be aware of.

Property tax laws and exemptions can change over time, so working with an expert ensures that you remain informed of the latest updates and adjustments. Whether you’re a homeowner looking for senior tax relief, a nonprofit organization seeking an exemption, or a business investing in renewable energy, having legal assistance can streamline the process and help maximize savings.

If you need assistance with your property tax exemption application or have questions about your eligibility, contact us today. Our team is here to help you understand your options and secure the tax benefits you deserve.

Wrongful termination is an unfortunate reality that can disrupt lives and careers. In Denver, as well as the broader state of Colorado, there are specific laws designed to protect employees from unfair dismissal. Understanding what constitutes wrongful termination is essential for any employee who feels they were dismissed unfairly.

Legal Framework for Wrongful Termination in Denver

In Colorado, most employment relationships are “at-will.” This means that employers can terminate employees for nearly any reason—or no reason at all—without facing legal repercussions. However, this does not give employers unrestricted power. There are critical exceptions to the at-will doctrine that make certain types of terminations unlawful.

Wrongful termination occurs when an employer violates state or federal laws, breaches an employment contract, or dismisses an employee for reasons that go against public policy. For instance, firing someone because of their race, gender, age, religion, disability, or other protected characteristic is strictly illegal. Additionally, employees are shielded from retaliation if they report misconduct or exercise their legal rights, such as taking family leave or requesting accommodations for a disability.

Federal laws like the Civil Rights Act, the Americans with Disabilities Act (ADA), and the Family and Medical Leave Act (FMLA) set a baseline for employee protections. Colorado also has its own employment laws that expand on these protections, ensuring that workers in Denver and throughout the state have avenues for recourse if they are wrongfully dismissed.

Common Examples of Wrongful Termination

To better understand what wrongful termination looks like, let’s examine some real-world scenarios where an employee’s dismissal might be deemed unlawful:

Discrimination: Employers cannot terminate employees based on characteristics protected by law, such as race, sex, age, or religion. For example, dismissing an older worker in favor of a younger, less experienced candidate could be seen as age discrimination.

Retaliation: If an employee reports unsafe working conditions, files a harassment claim, or acts as a whistleblower to expose illegal activities, their employer cannot retaliate by firing them. Retaliatory termination is a common basis for wrongful dismissal claims.

Violation of Protected Leave: Employees who take leave under the FMLA or require accommodations under the ADA are protected by law. Terminating an employee for utilizing these rights is prohibited.

Breach of Contract: If an employer dismisses an employee in violation of the terms outlined in an employment contract, the termination may be deemed unlawful. Contracts that specify conditions for termination must be adhered to.

Public Policy Violations: Employees cannot be fired for refusing to engage in illegal activities or for exercising a right recognized by public policy, such as serving on a jury or voting.

How Denver’s Employment Laws Define Wrongful Termination

Denver residents benefit from both federal and state protections against wrongful termination. In addition to federal laws, Colorado has specific statutes addressing issues such as wage theft, workplace safety, and whistleblower protections. For example, the Colorado Anti-Discrimination Act (CADA) provides robust safeguards against workplace discrimination.

In some cases, local laws offer even greater protections than federal statutes. For instance, Colorado’s Equal Pay for Equal Work Act requires transparency in pay practices, and violations may lead to termination disputes if an employee is dismissed after raising concerns about wage discrimination. Understanding these laws is critical for employees who feel they were unfairly treated.

Employers in Denver are expected to follow not only federal guidelines but also the nuanced requirements of Colorado employment law. Ignorance of these rules is not an excuse, and employees who suspect their rights were violated should not hesitate to take appropriate action.

Steps to Take If You Suspect Wrongful Termination

If you believe your dismissal falls into one of the categories described above, there are several steps you can take to protect yourself and seek justice:

1. Review Your Employment Contract: If you had a formal employment agreement, carefully examine its terms. Contracts often outline specific reasons for termination and procedures that must be followed.
2. Document Everything: Gather evidence related to your termination, including emails, performance reviews, and any communications with your employer. Detailed documentation can strengthen your claim.
3. Consult a Legal Professional: Employment attorneys specialize in wrongful termination cases and can provide critical guidance. They will assess the facts of your case and help you understand your options.
4. File a Complaint: Depending on the circumstances, you may need to file a complaint with the Equal Employment Opportunity Commission (EEOC), the Colorado Civil Rights Division (CCRD), or another relevant agency.
5. Seek Compensation: If your case is successful, you may be entitled to compensation for lost wages, emotional distress, and other damages. Your attorney can help you pursue the appropriate remedies.

Acting quickly is essential, as there are strict deadlines for filing complaints and taking legal action. Delays could impact your ability to pursue your claim.

Why Wrongful Termination Protections Matter

The legal protections against wrongful termination are crucial for maintaining fair and ethical workplace practices. Employees who feel secure in their rights are more likely to report misconduct, stand up against discrimination, and advocate for better working conditions. These laws also hold employers accountable, ensuring that businesses treat their workers with respect and integrity.

Denver’s employment laws aim to create a balance of power in the workplace, preventing employers from exploiting their authority. By protecting employees from wrongful termination, these laws contribute to a healthier and more equitable work environment for everyone.

How an Employment Attorney Can Help

While understanding your rights is the first step, navigating the complexities of employment law can be overwhelming. This is where an experienced attorney can make all the difference. An employment lawyer can evaluate your case, explain your options, and represent your interests in legal proceedings.

For instance, if your employer claims your dismissal was performance-related, an attorney can help you gather evidence to prove otherwise. They can also negotiate on your behalf to secure a fair settlement, ensuring you receive the compensation you deserve.

Contact Downey & Associates Today if You’ve Been Wrongfully Terminated

If you suspect your termination was unlawful, don’t wait to take action. Every day that passes could make it harder to build your case or recover damages. Start by reaching out to a trusted legal professional who can help you understand your rights and guide you through the process of seeking justice.Our employment law attorneys specialize in helping employees with wrongful termination claims. If you have questions or believe your rights were violated, contact us today. We are committed to providing the personalized support and expert guidance you need to protect your interests.

If you’ve been injured in a car accident in Denver, one of the most pressing questions you may have is how long you have to file a claim This is a critical question because the timeline for filing a personal injury claim in Colorado is governed by specific laws, and missing this window can have severe consequences. In this blog, we’ll explore the statute of limitations for car accident claims in Denver, the importance of acting quickly, and what steps you should take if you're nearing the deadline.

Understanding Colorado’s Statute of Limitations

The statute of limitations is the legal time limit within which you must file a lawsuit after being injured in a car accident. In Colorado, the statute of limitations for filing a personal injury claim related to a car accident is generally three years from the date of the accident. This means that from the moment the accident occurs, the clock starts ticking, and you have exactly three years to bring a lawsuit against the party responsible for your injuries.

This three-year period might seem like ample time, but it can pass quickly, especially when you’re dealing with the physical, emotional, and financial repercussions of a serious car accident. It’s crucial to be aware that if you do not file your claim within this three-year window, you may lose your right to pursue compensation. Once the statute of limitations has expired, the courts typically will not allow you to file a lawsuit, regardless of how strong your case might be.

However, there are certain exceptions to this rule. For example, if the accident involved a government vehicle or if the injured party was a minor at the time of the accident, the filing period may differ. In cases involving government entities, you may have only 180 days to file a notice of claim, which is a much shorter timeframe. Additionally, if a minor is injured in an accident, the statute of limitations might be extended until they reach the age of 18. Given the complexities of these exceptions, it’s essential to consult with a knowledgeable attorney who can help you determine the exact deadlines that apply to your case.

Why Acting Quickly Is Critical to Your Case

While the law allows up to three years to file a claim, waiting too long can harm your case in several ways. The more time that passes, the harder it becomes to gather the necessary evidence to support your claim. Physical evidence from the accident scene, such as skid marks or vehicle damage, can deteriorate or disappear over time. Witnesses to the accident may also become harder to locate, and their memories of the event can fade, making their testimony less reliable.

Additionally, medical documentation is crucial in personal injury cases. If you delay seeking medical treatment or fail to follow up with healthcare providers, it can be challenging to prove that your injuries were directly caused by the accident. Insurance companies often scrutinize the timeline of when you sought treatment, and any gaps can be used to argue that your injuries were not severe or were caused by something other than the accident.

Early action also ensures that your attorney has sufficient time to thoroughly investigate the accident, consult with experts, and build a strong case on your behalf. The process of filing a claim involves collecting a substantial amount of documentation, including police reports, medical records, witness statements, and more. The sooner you begin this process, the better prepared you will be to face any challenges that may arise.

How to Protect Your Rights and Strengthen Your Claim

If you’ve been involved in a car accident in Denver, there are several steps you can take to protect your rights and strengthen your personal injury claim. First and foremost, seek medical attention immediately, even if you don’t think your injuries are severe. Some injuries, such as whiplash or internal injuries, may not be immediately apparent but can have serious long-term consequences. Getting a thorough medical evaluation not only ensures your health and well-being but also provides important documentation that can support your claim.

Next, it’s important to document everything related to the accident. This includes taking photographs of the accident scene, your injuries, and any damage to your vehicle. If possible, collect contact information from any witnesses and make sure to obtain a copy of the police report. Keeping detailed records of your medical treatment, including all doctor visits, medications, and therapies, is also essential.

It’s also advisable to keep a personal journal of how your injuries are affecting your daily life. Document your pain levels, any limitations on your activities, and the emotional impact of the accident. This information can be invaluable when it comes to negotiating with insurance companies or presenting your case in court.

What to Do If You’re Approaching the Deadline

If you find yourself nearing the three-year deadline to file a claim, it’s imperative to take immediate action. The process of preparing a lawsuit takes time, and the closer you get to the deadline, the less time your attorney has to gather evidence, interview witnesses, and prepare your case. Filing a lawsuit at the last minute can also leave you vulnerable to mistakes or oversights that could weaken your claim.

When you reach out to an attorney, they will begin by conducting a thorough evaluation of your case. This includes reviewing all available evidence, assessing the extent of your injuries, and determining the potential value of your claim. Your attorney will also advise you on whether any exceptions to the statute of limitations apply to your situation, which could extend the filing deadline.

In some cases, your attorney may be able to negotiate a settlement with the at-fault party’s insurance company without going to court. However, if a fair settlement cannot be reached, filing a lawsuit may be necessary to secure the compensation you deserve. An experienced attorney will be able to guide you through each step of the legal process and advocate for your best interests.

Don’t wait until it’s too late to take action. If you’ve been injured in a car accident in Denver, our personal injury attorneys are here to help you understand your rights and pursue the compensation you deserve. We encourage you to reach out to us today to discuss your case and explore your legal options. Let us help you secure the justice and financial recovery you need to move forward.

In business, agreements often start with a handshake or a conversation. Many businesses operate on the principle of trust and verbal commitments. However, this leaves a crucial question: are these verbal agreements legally binding? At Downey Law PC, we provide guidance on both verbal and written agreements, helping our clients understand the legal standing of such commitments.

This blog delves into the nuances of verbal agreements in business transactions, highlighting when they are legally enforceable and the complexities involved in proving such agreements in a court of law.

Understanding Legally Binding Verbal Agreements

Verbal agreements, like their written counterparts, can be legally binding if they satisfy certain legal criteria. For an oral contract to be enforceable, it must include an offer, acceptance of the offer, a mutual intention to establish an agreement, and an exchange of value, known as consideration.

The primary challenge with verbal contracts is not their legality but proving their terms and existence. In the absence of written documentation, the specifics of the agreement can be challenging to verify, which can lead to potential disputes. To mitigate such issues, our team of business transactions attorneys strongly advises documenting significant agreements in writing.

Limitations of Verbal Contracts

Despite their potential validity, verbal agreements have limitations under the law. Certain types of transactions are required by the Statute of Frauds to be documented in writing to be legally enforceable. These include agreements related to the sale of real estate, contracts that are expected to last more than one year, and promises to pay someone else's debts, among others.

Additionally, verbal agreements may fall short in legal settings if they lack clear, agreed-upon terms, or if one party cannot provide evidence of the other party’s consent to those terms. Such conditions highlight the importance of having a written contract that can decisively prove the intentions and agreements between parties.

Challenges in Proving a Verbal Agreement

Proving the existence and specifics of a verbal agreement in court is often complex. However, certain types of evidence can support the credibility of a claimed agreement. These include emails, text messages, witness testimonies, and behavior from both parties that indicates a mutual understanding was in place.

Documentation like this can significantly bolster a case, yet the inherently ambiguous nature of verbal agreements often leads to uncertain legal outcomes. The credibility of the witnesses and the consistency of the stories shared by the parties involved play a critical role in court decisions.

Best Practices for Secure Business Transactions

While verbal agreements may suffice for informal or low-stakes agreements, formalizing significant business agreements in writing is prudent. Written contracts provide a clear framework and record of the agreed terms and can substantially ease the enforcement and resolution of disputes. They serve as reliable evidence should disagreements arise, facilitating a smoother legal review and decision-making process.

Moreover, drafting a contract with professional legal assistance ensures that all essential terms are clearly defined and legally sound. This not only enhances the enforceability of the contract but also minimizes the risk of future disputes.

Seek Professional Legal Guidance

If you're involved in business transactions, whether frequently entering into contracts or occasionally dealing with agreements, professional legal counsel is indispensable. Dealing with contracts without a solid understanding of the legal implications can expose your business to significant risks.

Whether you need help drafting a contract, understanding the legalities of verbal agreements, or resolving a dispute arising from a breach of contract, our experienced team is ready to assist. If you're considering entering into a business agreement or need help with an existing verbal contract, reach out to us today. Our team is committed to ensuring that your business transactions are protected and effective.

Introduction to Property Ownership in Colorado

When it comes to property ownership in Colorado, there are various types of ownership structures to consider. Understanding these differences is important for anyone involved in real estate transactions or seeking legal guidance. In this blog post, we will explore the various forms of property ownership in Colorado, providing valuable insights to help you make informed decisions. Whether you are a homeowner, investor, or business owner, this knowledge will empower you to navigate the complexities of real estate in Denver, Colorado.

1. Sole Ownership:

Sole ownership is the simplest form of property ownership, where an individual holds complete ownership rights to a property. This structure provides full control and decision-making authority over the property. While it offers simplicity, sole ownership also means assuming all the risks and obligations associated with the property.

2. Joint Tenancy with Right of Survivorship:

Joint tenancy is a common form of property ownership among couples, family members, or business partners. In this structure, each owner has an equal share and right to the property. Importantly, joint tenancy includes the "right of survivorship," meaning that if one owner passes away, their share automatically transfers to the surviving owner(s) without going through probate.

3. Tenancy in Common:

Tenancy in common is another form of shared property ownership, allowing multiple owners to hold unequal shares in a property. Each owner has the right to sell, lease, or mortgage their share independently. Unlike joint tenancy, tenancy in common does not include the right of survivorship. Upon an owner's death, their share is passed on to their heirs or named beneficiaries.

4. Community Property:

Community property is a type of ownership structure available to married couples in some states, including Colorado. Under community property laws, property acquired during the marriage is considered jointly owned by both spouses, regardless of individual contributions. In the event of divorce or death, community property is typically divided equally between the spouses.

5. Limited Liability Company (LLC) Ownership:

LLC ownership provides a popular option for real estate investors and businesses. An LLC combines the limited liability protection of a corporation with the flexibility and tax advantages of a partnership. Holding real estate within an LLC can help protect personal assets from potential liabilities and provide tax benefits.

6. Trust Ownership:

Using a trust for property ownership offers numerous advantages, including privacy, asset protection, and estate planning benefits. A trust allows the property owner (grantor) to transfer ownership to a trustee, who manages the property for the benefit of one or more beneficiaries. Trusts can be tailored to meet specific goals, such as avoiding probate or minimizing estate taxes.

7. Condominium Ownership:

Condominiums, or condos, involve owning individual units within a larger property complex, along with a shared interest in common areas like pools, gyms, and gardens. Owners are part of a condo association that manages the property and are responsible for monthly fees covering maintenance, shared utilities, and insurance. Condos offer individual ownership with the benefit of shared amenities but come with the responsibility of association fees and adherence to community rules.

8. Cooperative Ownership (Co-op):

In a cooperative, or co-op, residents own shares in a corporation that owns the building, rather than owning their unit directly. The number of shares typically corresponds to the unit's size or value. Co-ops are managed by a board of directors, and residents pay monthly fees for maintenance and other expenses. The co-op structure emphasizes community decision-making and can involve a rigorous approval process for new residents, with more complex resale conditions compared to condos.

Navigating Property Ownership in Colorado

Understanding the different types of property ownership in Colorado is vital for anyone involved in real estate. Each structure has unique benefits and considerations, and the right choice depends on individual circumstances and goals. For expert guidance, consult with a knowledgeable real estate attorney in Denver like Downey & Associates, PC.

Considering a real estate transaction, or need assistance with property ownership issues in Denver, Colorado? Contact Downey & Associates, PC at 303-647-9399 for client-focused legal representation and guidance on property ownership complexities in Colorado.

Both Uber and Lyft must feel a bit vulnerable following a decision by Washington’s Supreme Court decision to allow the government to disclose data on what Seattle neighborhoods they serve. The ruling overturns a lower court’s decision to grant an injunction that sided with the transportation companies right to keep data secret.

The state Supreme Court, while agreeing that the data qualifies as trade secret material, sent Uber and Lyft back to the lower court, where they must now prove that public disclosure of their data is “clearly not be in the public interest and would substantially and irreparably damage a person or a vital government interest.”¹ If Uber and Lyft cannot prove their case in the lower court, they’ll both lose trade secret status for their data.

Details, Claims and Allegations Surround the Ride-Share Trade Secret Case

The following details, claims and allegations surrounding the ride-share trade secret case were gathered from recent news reports:²

• Following a previous legal dispute, Uber and Lyft both provided the city of Seattle with ride-sharing data, including zip codes from their driver and passenger databases.
• Seattle requires this information to determine if there are underserved areas in the city for this kind of transportation service. This information was requested to evaluate the city’s infrastructure, transportation system, traffic congestion and other transportation issues.
• After receiving notice of request for the information, Uber sought a state court injunction after establishing that the data was a trade secret.
• That case was then appealed to the state Supreme Court.
• On May 31, the Supreme Court overturned the lower court decision and found the records were not protected from public disclosure.
• According to the Supreme Court, companies are required to meet more rigorous standards to protect data from being released to the public.
• One of the dissenting opinions mentioned the importance of “express and robustly protective trade secret language.”

What’s Next for Uber and Lyft?

We’re not sure ourselves, but their legal teams might start looking at some legal precedents to apply in their next appeal, if any are made. What this case does do, however, is wake up small businesses and growing companies of the governmental bureaucracy at work. They should especially be wary of having to submit information deemed proprietary or trade secrets in nature.

Contact a Denver Trade Secrets and Intellectual Property Lawyer at Downey & Associates, PC

Did you have an employee or contractor steal company trade secrets? Or are you being asked to provide information to a government agency with material your company deems proprietary and company trade secrets? Then contact the Denver Trade Secrets and Intellectual Property Lawyer with Downey & Associates, PC. We specialize in helping clients with sensitive legal matters involving intellectual property law. To schedule an appointment, call us today at 303-643-9399 or send us an e-mail.

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¹“Uber and Lyft May Have to Disclose Seattle Data They Claim Secret, Supreme Court Rules” published in The Seattle Times, June 2018.

²“Ride-Sharing Services Lose Latest Trade Secret Battle” published in Labor Employment Perspectives, June 2018.

For decades, it seems the Denver skyline has remain unchanged, until recently that is. With a torrent of people flocking to live in the Mile High City, Denver has seen an unprecedented building boom for residential and now high-rise commercial space. There have a been a handful of new additions to the Denver skyline, but none as significant as the 1,000-ft. tall, 90 story, $400 million skyscraper planned for 650 17th Street, which is also the building’s proposed name. If approved Six Fifty 17 will become the most visible crown jewel of Denver’s downtown skyline.

“Transforming a skyline — especially in a city with as much history and progressive spirit as Denver — takes powerful collaboration between global and local talent. I can confidently say that GRC has accomplished this with 650 17th Street,” said Mike Ursini, managing director of Greenwich Realty Capital (GRC), which is a New York-based real-estate developer.¹

Plans and Details about Six Fifty 17

The following details and plans about Six Fifty 17 were gathered from news reports and the building’s website at sixfifty17.com:

• GRC has been working with renowned Uruguayan architect Carlos Ott (known for designing Opera De La Bastille in Paris), of the New York firm Crown Architecture, to design the modern, mixed-use space tower.
• At 1,000 feet tall, Six Fifty 17 would be the 19th tallest skyscraper in the U.S., and rise 286 feet taller than the Republic Plaza Building, which is currently Denver’s tallest building.
• The tower would comprise 1,000,000 square feet of space for office and residential use.
• Other amenities would include 248 luxury condos, a boutique hotel, 22,000 square feet of retail space, and accommodate over 500 parking spaces.
• Condominium residents will enjoy sweeping views of the Front Range and the mountains, multiple terraces and pools, a spa with sauna and steam rooms, and a state-of-the-art fitness center.
• The building will also feature a half-court basketball court, bowling alley, and a game room with billiards, foosball, and shuffleboard. There’s even a children’s playroom with a climbing wall.
• Other amenities include day care, pet grooming, bicycle storage, in-house concierge, art consultation, and butler service.
• The Six Fifty 17 project team hopes to break ground sometime in the summer of 2018.

Red Tape and Legal Hurdles Facing Six Fifty 17

The following are some of the municipal hurdles that Six Fifty must pass before it can become reality:

• GRC has already submitted a preliminary project application, but no formal site plan has been submitted.
• Denver’s Community Planning and Development Board has acknowledged that they have been in contact with the Six Fifty 17 project team, but has not received the tower’s plan for review, yet.
• Although the plan hasn’t been approved by the city yet, the 25,000-square-foot site is currently occupied by a parking lot owned by Paradise Land Co., which has confirmed that the property is currently under contract to be sold to GRC.

Contact a Denver Real Estate Lawyer at Downey & Associates, PC

The last thing a developer wants to happen with a large construction project of this magnitude, is to have it scrutinized by planning boards and possibly even not approved for some type of unforeseen zoning or building code violation. The Denver Real Estate Lawyer at Downey & Associates, PC. has the experience to oversee many of the legal and transaction hurdles facing large development projects of this size and scope. Our Denver real estate lawyer can also oversee:

• Acquisitions and purchase agreements
• Sales, sale agreements and closing issues
• Contract disputes and leases
• Property management
• Property valuation
• Title assessments and title defects
• Easements and more

To schedule a free, no-obligation initial consultation, call 303-647-9399, or contact us via email using the online message form available on this page.

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¹“Massive Proposed Skyscraper Would Change Denver Skyline” published in Our Community Now, Oct. 2017.

To answer that questions, one only needs to look at real-life examples of the business world. Right here in Denver parent company of the Denver Post, MediaNews Group, put its neck out there and voiced its outright opposition to Randstad North America Inc.’s $429 million purchase of Monster Worldwide Inc.

MediaNews’s Senior Vice President Joe Anto wrote a letter to Monster stating that Randstad’s $429 million offer for the company was too low. MediaNews owns approximately 11.6 percent of Monster’s stock. Additionally, Anto claimed Randstad’s “$3.40 per share deal would represent the textbook definition of selling at the bottom.”

Additional Transaction Details and Allegations of the Monster Acquisition

The following transaction details and allegations of the acquisition of Monster by Randstad were collected from media reports:¹

• MediaNews claimed Monster’s share price could go as high as $8 per share within 18 months following the sale.
• “(Monster’s shares) woefully underperformed versus its peers and the market over any relevant period of time,” Anto stated in a letter to Monster’s board.
• As a result of the undervalued purchase and to reduce expenses, MediaNews reported that Monster could cut anywhere from 1,600 to 3,700 jobs to try and recoup $136 million.
• The letter to the board members also claims that Monster has too many layer of management and support, as well as too large of a sales force.
• Anto alleged that Monster is in too many money-losing international operations

When is it Appropriate to Sue a Board of Directors?

Obviously, board of directors of any company wield quite a bit of authority over the company operations, and they are beholden to shareholders. Shareholders represent partial ownership stake in those companies, and when the board of directors makes poor business decisions the shareholders have every right to display their disdain and possibly even take legal action to correct any infraction.

Here is a list of fiduciary duties that boards of directors are typically subject to:

• Board of directors have a duty of care they must exemplify when managing company or corporate affairs and assets.
• Board of directors have a duty of loyalty to avert undisclosed conflict of interest.
• Individual board members cannot undertake actions for self-profit on behalf of the company.
• Board of directors should also never take advantage of business opportunities as a result of their relationship to the company/corporation.

Contact a Denver Business Attorney at Downey & Associates, PC

Has your board of directors taken an action that either profited its members or unknowingly hurt the bottom line of your company or corporation? If so, you can count on a Denver Business Attorney with Downey & Associates, PC. Since 1983, Thomas Downey and the legal team at Downey & Associates, PC, have been exhibited exceptional legal representation for their clients in all manner of business-related matters, including contract negotiations, workplace accidents, and corporate conflicts.

For a free, no-hassle consultation about our legal services, please call our Denver business attorney today at (303) 647-9399 or by emailing us using the contact form on this page.

From our law offices in Englewood, we serve clients throughout Colorado and the U.S.

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¹“Denver Post parent company vehemently opposes Randstad’s purchase of Monster” published in Denver Business Journal, Sept. 2016.