#cannabisindustry – “First off, any halfway decent cannabis contract will have an amendments provision. These clauses only permit amendment or modification (1) in a written form (2) signed by both parties. Sometimes they’ll require only the signature of the affected party. But the bottom line is that it must be a signed, written document to be valid.
There can of course be exceptions to this rule. It’s common in litigation to see arguments made that a course of conduct or action after an oral amendment evidences an amendment. The law in many jurisdictions allows these kinds of arguments, though the party making the claim bears the burden of proving it. So even if it’s possible to argue that parties amended a contract, it’s must easier (and saves lots of time/money) to just do it in writing. Handshake deals are almost always bad and can be lead to some of the biggest mistakes out there.
Parties who go the written route usually do one of two things. If they want to amend only a few cannabis contract provisions, they’ll just prepare a short amendment agreement. The amendment lists the provisions that are amended or deleted, and contains the replacement language. The amendment also usually contains boilerplate incorporating defined terms from the original cannabis contract. They also almost always explain that they only modify the provisions at issue and nothing else.”
#cannabisindustry – Scam – “In recent weeks, several European news media outlets reported an alleged scam involving Juicy Fields, a cannabis crowdfunding platform. According to the journalism investigations, the company allegedly scammed its investors for hundreds of millions of dollars.
Established in 2020, JuicyFields offered a service where investors or, as the company called them, e-growers, could participate in the cultivation, harvesting, and sale of cannabis plants promising monthly returns between 6% and 14%…..
However, JuicyFields suddenly stopped its operations in mid-July. It froze cash withdrawals, removed their profiles from social media networks, and disappeared without a trace. Therefore, its users could not log in to their accounts and withdraw money.
According to several publications that covered the story, the alleged scam was based on a Ponzi Scheme.”