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Economic Instability has Legal Consequences for Your Business

By J. David Westwood, Associate—

Last week, the government released its latest snapshot of the job market, which raised some concerns regarding whether the economic recovery is running out of steam.  The economy reportedly shed approximately 131,000 jobs and the unemployment rate held steady at 9.5%.  One need only glance at the up and down volatility of the stock market to see how the current economic uncertainties are affecting businesses both nationally and locally.

Unfortunately, the instability in the economy can have serious consequences on your business.  The frequency of tenant evictions, property foreclosures, and contract disputes has increased dramatically.  In such uncertain economic times, it is important that your business’s interests are protected.  Both the eviction and foreclosure processes are highly regulated by Utah’s statutes containing specific requirements that must be followed.  One simple mistake can lead to months of additional time lost, extra costs incurred, and lost revenue to your business.  Furthermore, improperly proceeding on a contract dispute can actually compound problems and may lead to a loss of claims.

At Snow Jensen & Reece, we have a team of highly experienced attorneys dedicated to helping our clients withstand the current economic challenges.  Whether your business is large or small, let us help your business stay afloat in these uncertain times.

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