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Maryland Business Law, Contracts: The Importance of Confidentiality in Contracts (“Confidentiality Clause”)

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When your business is entering into a contract with another business it is important to include a confidentiality clause in the contract. The other business is likely to become privy to otherwise private information about your business. Your contract should contain a mutual promise clause that ensures both sides will keep confidential any business information […]

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Maryland Estate Planning Information: What Happens to Credit Card Debt When I Die?

Many clients ask me a variation of the following questions. What will happen to my credit card debt when I die? Will my credit card debt be passed on to my children? Will my spouse have to pay for my credit card debt? There are two factors that will determine who, if anyone, is responsible […]

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Maryland Business Law: What is a Memorandum of Understanding?

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There is often confusion over the difference between a Contract and a Memorandum of Understanding (MOU) as well as a basic misunderstanding of what a MOU does. A MOU is a written agreement between two or more parties. A MOU specifies mutually accepted expectations and intentions between the parties, however the agreement is typically not […]

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Legal Definitions

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This section is updated when new terms are used in the Law Office of Stephen J. Reichert, LLC blog. Ancillary Probate – If decedent had real property in another state (ancillary) probate is required in that state. Bankruptcy Trustee – A person appointed by a bankruptcy court to supervise the affairs of a person or […]

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