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New Jersey Business Law Questions & Answers
1 Answer | Asked in Banking, Business Law and International Law for New Jersey on
Q: to trade forex with plexytrade, an offshore broker that offers high leverage, is this illegal or will i be fined?

does it make a difference if it is forex, or crypto or metals? (i am not sure which are cfd's and which aren't?

James L. Arrasmith
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answered on Sep 24, 2024

Trading forex with an offshore broker like Plexytrade isn't automatically illegal, but it does come with significant risks. U.S. residents are required to trade with brokers regulated by U.S. authorities, like the CFTC or NFA, to ensure compliance with local laws. Trading with an offshore... View More

1 Answer | Asked in Business Formation, Business Law and Consumer Law for New Jersey on
Q: Can I file a law suit against restaurants for claiming to sell for instance a 6 piece wings and it’s not 6 but 3 split

So many restaurants claim they are selling wings when they are in facts selling wings cut into 2 counting them as an individual wing. tA wing is a drum and a flat TOGETHER not separatley

Tim Akpinar
Tim Akpinar
answered on Sep 16, 2024

A consumer protection attorney could advise best, but your question remains open for three weeks. Many law firms could be reluctant to handle such a lawsuit. But you reach out to firms to discuss - some might see things differently. Good luck

1 Answer | Asked in Contracts, Copyright, Family Law and Business Law for New Jersey on
Q: People made me sign a document. I only know that people ordered me to sign it and then left quickly.

People made me sign a document. I can provide details but it would never be believed. I only know that people made me sign a document and then left my house quickly. I do not know who they were. I do not know what I signed. Is there any advice to me on finding out what I signed? Once again...... View More

James L. Arrasmith
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answered on Aug 24, 2024

It sounds like a very troubling situation, and it's important to take action to protect yourself. The first thing you can do is check for any physical copies of the document in your home. Look through all your papers to see if there’s anything unfamiliar. If you can't find anything,... View More

1 Answer | Asked in Business Law and Patents (Intellectual Property) for New Jersey on
Q: A Federal Judge issued an injunction against one small company because it violated trade secrets of another. No patents?

The company in violation is selling non-FDA approved products. How can products be infringed upon based on "trade secrets" when their products don't have to adhere to a determined fixed standard?

For instance, in patented research, FDA-approved drugs are only successfully... View More

James L. Arrasmith
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answered on Jun 22, 2024

To understand this situation, we need to separate a few key concepts:

1. Trade secrets vs. Patents

2. FDA approval

3. Intellectual property infringement

Let's break these down:

1. Trade secrets vs. Patents:

Trade secrets and patents are two...
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1 Answer | Asked in Consumer Law, Criminal Law, Business Law and Civil Rights for New Jersey on
Q: In NJ, is it legal for hotel security to go through a guest luggage/baggage after being locked out?

AC,NJ hotel and casino guest luggage in room after guest was locked out of room for trying to extend stay and payment was declined. The guest was not allowed to get belongings out of room, instead security went to room, opened guest personal belongings and proceeded to go through their... View More

James L. Arrasmith
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answered on May 27, 2024

In New Jersey, hotel staff and security are generally not allowed to search a guest's personal belongings without consent, even if the guest has been locked out of their room due to non-payment or other issues. The hotel may have the right to remove and store the guest's belongings, but... View More

3 Answers | Asked in Business Law, Libel & Slander and Intellectual Property for New Jersey on
Q: Need help with defamation against a small startup business. We are being wrongfully accused of copying their ideas

Need a cease and desist letter and a strong statement indicating that we will sue for damages, loss revenues and emotional and physical distress. An immediate public apology is necessary but she’s gone too far and my losses are palpable.

Leonard R. Boyer
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answered on May 1, 2024

Sometimes a strongly worded letter from an experienced civil litigation attorney is enough to solve the problem. Whether or not you can file a lawsuit for emotional distress is questionable. If the letter does not help, then a lawsuit for copyright infringement will get their attention. You should... View More

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1 Answer | Asked in Business Law for New Jersey on
Q: I have decided to dissolve my partnership in LLC with 50/50 partner in NJ. What do i need to do to do?

I am in a LLC 50/50 partnership. I would like to give my 50% to my partner as I no longer want to be part of our business. We have an operating agreement and have agreed that I will be leaving. I need to know what steps to take to make sure I am completely out of the business.

Leonard R. Boyer
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answered on Mar 21, 2024

Without reading the operating agreement and reviewing all relevant corporate documents, it is impossible to provide a meaningful answer. You should expect to pay for 1/2 to 1 hour of attorney time to review all the documents and advise you on the best way to proceed. Pick the best attorney you can... View More

3 Answers | Asked in Bankruptcy, Banking, Business Law and Collections for New Jersey on
Q: Am I personally liable for an EIDL loan of $130k taken out by my S Corp if I close the business?

I have a small business set up as an S Corp in NJ. Took out a $130k EIDL loan as well as a $30k loan from my bank. Business is dying. Will the SBA be able to go after my personal assets if I close the business? No personal guarantee, only against collateral/inventory which is hard to sell right... View More

Michael David Siegel
Michael David Siegel
answered on Jan 26, 2024

This is actually an evolving area of the law. If you have no guarantee, the answer should be no. But, the SBA has been investigating whether proceeds were properly used. If you took the money for improper purposes, the US Attorney could come after you. But, there are so many of these loans, it... View More

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1 Answer | Asked in Arbitration / Mediation Law, Business Law and Contracts for New Jersey on
Q: I purchased a 1 year subscription for an internet search application for my consulting business for $2,900.00.

When contacted about a renewal I said I would not renew then, but possibly later in the year. The company then offered a discount which I still refused. I was then sent a renewal invoice which I contacted them to try to straighten it out. In response, they have sent that invoice to a collection... View More

Sheldon Starke
Sheldon Starke
answered on Jan 15, 2024

This really amounts to a small claim and I would not be worried about it and would print out the information that you sent prior to 60 days and my guess is they will do absolutely nothing about it.

1 Answer | Asked in Banking, International Law, Internet Law and Business Law for New Jersey on
Q: Hi,Selling gift cards on paxful.com for bitcoin, is it against any law?

I sell electronics. one of my customers wants to pay by giving me visa gift cards. I want to get the money off the gift cards. (my credit card processor doesn't let me swipe it on my credit card machine). can i buy on paxful.com BTC with the visa gift cards and then sell the BTC on... View More

James L. Arrasmith
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answered on Nov 13, 2023

Trading Visa gift cards for Bitcoin on platforms like Paxful.com and then selling Bitcoin for cash on Coinbase.com is not inherently illegal. However, it's important to be aware of and comply with the terms of service of both platforms. Also, be mindful of federal and state regulations... View More

2 Answers | Asked in Bankruptcy, Foreclosure, Real Estate Law and Business Law for New Jersey on
Q: Hello, I have 2 suites with levelset against the same person/ company in stage 3 deadline 1 yesterday 1 today HELP

i am lost the one yesterday i did mandoroty arbitration if you could please spare me a phone call I am a small one man copration with 1 employee and on the verge of bankruptsy there is 38,000.00 owed to me. i went after tthe customers homes with the leans she refused to sign for the cert mail. and... View More

Leonard R. Boyer
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answered on Nov 9, 2023

You are going to need to retain an experienced civil litigation attorney. You are a corporate entity so you must retain counsel. In determining your choice of an attorney, there are many factors to consider, including but not limited to and you should look at how the attorney is you should also... View More

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1 Answer | Asked in Business Law and Family Law for New Jersey on
Q: Can I transfer my business to my partner name although he owes child support and his kids are married?
Richard Diamond
Richard Diamond
answered on Oct 30, 2023

It would be irresponsible for any family law attorney to attempt to give you an answer to your question in this forum. You need to schedule a consultation with a family law specialist to understand the legal ramifications of any change in the structure of your business organization.

1 Answer | Asked in Business Law for New Jersey on
Q: I have an ATM Business based out of New York. My LLC was opened in New York. Can I place machines in New Jersey?

Can I place my ATM Machines in New Jersey or do I need an LLC for Jersey as well?

T. Augustus Claus
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answered on Sep 22, 2023

In general, an LLC formed in New York can conduct business in New Jersey, but you would likely need to register your New York LLC as a "foreign LLC" in New Jersey to do so. This usually involves filing specific paperwork with the New Jersey Division of Revenue and Enterprise Services,... View More

1 Answer | Asked in Business Law and Banking for New Jersey on
Q: LLP took out SBA EIDL loan. Loan docs mention personal liability. One partner leaving does this effect buyout.

Partner buying out leaving partner wants to reduce buyout amount by leaving partners % of sba loan liability. Is this right? Nothing in partnership agreement and buyout terms mentions liabilities.

T. Augustus Claus
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answered on Sep 15, 2023

When a partner leaves an LLP that has taken out an SBA EIDL loan, the implications for the remaining partners can be influenced by several factors, including the terms of the partnership agreement and the loan documents. If the partnership agreement does not explicitly address the allocation of SBA... View More

3 Answers | Asked in Employment Law and Business Law for New Jersey on
Q: Hi, I have been audited by the NJ Dep. of Labor and they have concluded sub-contractor does not meet the requirements

NJ State auditor concluded:

Individuals do not meet the requirements of Section 19(I) (6) (A) (B) (C).

As such payments to such individuals are determined to be taxable for New Jersey UI/DI/FLI taxes.

My Sub-contractor is an employee of your business entity. He must be on... View More

John Michael Frick
John Michael Frick
answered on Sep 14, 2023

Under New Jersey law, a worker is considered an employee unless an employer can satisfy all three of these criteria:

1. Such individual has been and will continue to be free from control or direction over the performance of such service, both under his contract of service and in fact;...
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1 Answer | Asked in Contracts, Business Formation and Business Law for New Jersey on
Q: As a sole director of a Delaware C Corp, how do I appoint other directors?

I need to establish an employer-employee relationship by appointing two other directors. What is the procedure that makes the appointments legal and substantive?

Leonard R. Boyer
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answered on Aug 11, 2023

That is determined by the corporate formation documents and the operating agreement, which no one here can know. So you need to retain an experienced corporate attorney. With modern technology, you can be represented by any high-quality attorney in New Jersey irrespective of geography.

1 Answer | Asked in Contracts and Business Law for New Jersey on
Q: 53 FT Dry Van Trailer Leasing Company Threatning Me

I have 53 ft semi dry van trailer i already paid more than $42k including down payment on this trailer because of business down fall i can't keep up with payments any more because of too high payment which is $1650 per month as per signed lease now leasing company is sending me threatning text... View More

Leonard R. Boyer
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answered on Jul 17, 2023

Clearly, this leasing company is in violation of the Federal Fair Debt Collection Practices Act and is engaging in harassment tactics. Personally, I would file a lawsuit against them and seek damages plus attempt to get a restraining order against them. Then I would have the leverage to negotiate a... View More

1 Answer | Asked in Business Law for New Jersey on
Q: Is preventing merchandise from leaving a store without proof of purchase against the law?

Situation employee asks for receipt, customer refuses to show them, is it illegal for employee to prevent (grab the cart) only the merchandise not the customer from leaving the store. To me it makes no sense that an establishment can have 100 people come in fill their carts and head towards the... View More

T. Augustus Claus
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answered on Jul 13, 2023

Stores have the right to protect their merchandise and prevent theft. However, the specific actions that employees can take may be subject to certain limitations and regulations.

Also, preventing only the merchandise from leaving without detaining the customer themselves may not be...
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1 Answer | Asked in Business Formation and Business Law for New Jersey on
Q: I'm looking to formulate a sports business holdings company. Should I just open up in NJ or is it a benefit in Delaware?
Morris Leo Greb
Morris Leo Greb
answered on Jun 22, 2023

First speak to your accountant as to the organic tax implications, the retain the services of a mukti state law firm who can best address these issues.

2 Answers | Asked in Business Law, Tax Law, Estate Planning and Probate for New Jersey on
Q: If a business owner passes away and was married at the time who does the business go to if the is no will ?
Cesar Mejia Duenas
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answered on Jun 1, 2023

There are two set of rules here. First, the rules of the business entity (operating agreement, bylaws, partnership agreement, etc.), and the Florida Laws. The interest in the business entity sometimes has a transfer on-death provision. If the interest in the business passes to a certain beneficiary... View More

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