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Business Law Questions & Answers

1 Answer | Asked in Banking, Business Formation, Business Law and Consumer Law for Maryland on

Q: Do I have a Maryland Consumer Loan license to lend a friend $6,000.00 and charge 14% interest for a four year term?

Bruce Alexander Minnick answered on Jun 18, 2019

Say what? How can anyone know whether you "have a Maryland Consumer Loan license" or not? And why do you not know?

1 Answer | Asked in Banking, Business Law and Consumer Law for Ohio on

Q: I was informed and given a letter that I was approved for a $60000 home equity loan but they changed the amount.

I got a letter saying I was approved for a $60000 home equity loan. The next day I was called and told that they were wrong and it was only $40000. The next day I received a letter that stated I was approved for the amount of $60000 signed by a loan officer. I was later informed they wrongfully... Read more »

Bruce Alexander Minnick answered on Jun 18, 2019

Do about what? You asked for $60,000 and you are getting $60,000. Where's the beef?

1 Answer | Asked in Tax Law, Business Formation, Business Law and International Law for Florida on

Q: How to set up a touring company in another country?

Hi, I am trying to start a touring company in Jamaica with my brother. He will be responsible for hiring and securing proper licensing and management of drivers in Jamaica, (already hired one) and I will be in Florida, running the business, banking and marketing end. What would be the best way to... Read more »

Bruce Alexander Minnick answered on Jun 17, 2019

Free practical advice offered for the last 41 years to people starting or operating small businesses:

The main difference between successful small businesses and those that fail within a relatively short period of time is good legal advice. The owners of most successful small businesses...
Read more »

1 Answer | Asked in Business Law and Contracts for North Carolina on

Q: Started a renovation with no contract just invoice and H/O is suing me for taking too Long DOC NOT SPECIFIED IN INVOICE

I am a corporation and got half the money up front for special order materials. I got the material started the job, delays/issues happened worh other jobs, weather, help not showing etc long story short verbally had agreed with H/O that job would be complete by xyz date and it wasn't so they fired... Read more »

Bruce Alexander Minnick answered on Jun 17, 2019

Go to the small claims court and present your case.

1 Answer | Asked in Business Law, Contracts and Employment Law for Colorado on

Q: Can a director who is paid a salary also work as independent contractor for the same company and be paid as such

A programs director for an agency that takes care of people with Developmental Disabilities is paid as a programs director but also serves clients from his agency and is paid as independent contractor for serving the clients in his house

D. Mathew Blackburn answered on Jun 17, 2019

Yes, but the differentiation in roles and the basis for contractor treatment should be documented and retained for audit and an independent contractor agreement should be signed.

1 Answer | Asked in Business Law and Municipal Law for Tennessee on

Q: We want to sell beer in our family's corner store. Back in 2000 my father tried to get a permit to sell beer and a local

Church objected, so his permit was denied. Are we still at risk of that happening today if we reapply? The church is not adjacent to the store and is not touching the property line. It's roughly a quarter mile away.

Leonard Robert Grefseng answered on Jun 17, 2019

Probably- most cities have local ordinances which specify that any business selling alcohol have to be located various distances from churches or schools. ( The distance can vary- depending on whether the sale is for consumption on the premises or for "take out" - it can also vary for beer/ wine or... Read more »

1 Answer | Asked in Business Law for Oklahoma on

Q: can i be arrested for stealing an ipad if the owner gave it to me to fix

yes the other day i was givin a ipad to fix from a pawnshop and thats because she heard i fix them so she ask me well i said yes i can fix it so i brought it home and i left my phone number there i never told the lady how long i would have it but any ways with me working on it and waiting for apple... Read more »

Doak Willis answered on Jun 16, 2019

Yes of course she can do it as you just told us she did. Contact the police and the lady immediately to clear up the matter. It would be best to have an attorney speak for you.

2 Answers | Asked in Business Law, Contracts and Stockbroker Fraud for California on

Q: Is it legal to create contracts regarding loans to someone for the purpose to use that money to trade stocks?

If not, and a contract was made for that purpose. Let's say the loaner, loaned $5k and was promised back $10k.

Would the borrower still be obliged to give $10k

even though the contract is not legal?

Samuel B. Edwards answered on Jun 15, 2019

There is nothing inherently illegal or unenforceable for a contract concerning trading stocks. However, there are a lot more questions that would need to be answered in order to know for sure, including what state you are in. There may be a requirement for the person doing the investing to be a... Read more »

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1 Answer | Asked in Business Law for Florida on

Q: What do I have to do to put a condo I own in Florida into a LLC from Purto Rico

Phillip William Gunthert answered on Jun 14, 2019

You really will need to get hold of a Florida Business Attorney. The LLC would have to be registered with the Florida Department of State for starters. Then you would need to look into all the details related to the property, insurance (is there a problem once it is transferred into an LLC),... Read more »

1 Answer | Asked in Business Law, Civil Litigation and Contracts on

Q: Any court rulings on who bears the loss when funds are lost in a transaction between businesses in a BEC scam in the US?

Bruce Alexander Minnick answered on Jun 14, 2019

Pardon me for having to ask--but what is a BEC scam?

1 Answer | Asked in Bankruptcy and Business Law for North Carolina on

Q: If I own a company (S corp) and we owe $18000 in loans/card debt what happens to the balance when we close the company?

I own an S Corp, we close the office last fall due to lack or work. We have not been able to get it going again and we owe 8k in cards and around 15k on a loan. If we file chapter 7 does the debt the company owed then comes to me, or is it gone with the failed company? As of right now I dont see... Read more »

Timothy Denison answered on Jun 13, 2019

Unless you signed as a personal obligation on the nite, the debt stays with the s Corp.

1 Answer | Asked in Business Law for Tennessee on

Q: Piece of plastic/paper found in daughter's McDonald's drink. What do I do?

My mom took my 14 yo daughter to get a drink at McDonald's tonight, where they go all the time. Normally, my mom gets a lg Diet Coke and my daughter gets a lg sweet tea, but tonight they switched, and my daughter got the Diet Coke. There are a few employees at this McDonald's that do not like my... Read more »

Bennett James Wills answered on Jun 13, 2019

In order to have a claim for negligence or an intentional tort you must have suffered damages. Damages usually means physical damages or monetary damages. On the facts you provided, no one got hurt (fortunately). Since you suffered no damages, you would have no viable legal claims. Best option... Read more »

1 Answer | Asked in Consumer Law, Criminal Law, Employment Law and Business Law for Louisiana on

Q: hello , what would be "proper cause" NOT to testify for one of the two partys in a case.

Ellen Cronin Badeaux answered on Jun 12, 2019

If you received a subpoena, there is no proper cause not to appear. If you have not received a subpoena and don't want to testify, then don't go to court.

1 Answer | Asked in Business Formation and Business Law for Florida on

Q: For an LLC in Florida... can the name of the company be XYZ Ltd. with Ltd being the designation of an LLC.

I know FL Stat. 608.406 1(a) states, "The world 'limited' may be abbreviated as "ltd." but I am not sure if that means as part of writing out Limited Liability Company, or if it can be used as the designation completely. Thanks

Evelyn Suero answered on Jun 12, 2019

The Revised Florida Limited Liability Act is found in Florida Statutes Chapter 605. Section 605.0112 of the Act provides that the name of a Florida limited liability company must contain the words “limited liability company” or the abbreviation “L.L.C.” or “LLC.” The abbreviation "Ltd"... Read more »

1 Answer | Asked in Business Law for New York on

Q: Regarding Retainage on a contract in NYC: We are a subcontractor to a general contractor

In the Service Contract that we signed, payment of the retainage is specified as being no more than 30 days after the GC is paid by the Owner. I'm wondering if the actual due date for payment is 30 days after we complete work ... not based on whether the GC is paid or not. I believe that the... Read more »

Michael David Siegel answered on Jun 12, 2019

The retainage should be paid when the GC is paid, as this payment is for past work. You should also have a completion payment. It is possible there is an overlap between the two.

1 Answer | Asked in Contracts, Tax Law, Admiralty / Maritime and Business Law for California on

Q: Does buyer of 'boat' LLC have to register ownership immediately after acquistion? And whom is responsible for taxes?

In October 2018, I sold my California LLC which only asset was a boat (wholly owned by my single owner/manager CA S corp).  Licensed yacht brokers handled the sale through a maritime attorney.  The deal was a straight up deal, llc for cash.  The same maritime attorney represented both buyer and... Read more »

Bruce Alexander Minnick answered on Jun 11, 2019

You are sailing in unchartered waters--at least for me. In addition, there are some important facts missing from you question that prevent lawyers from advising you. Finally, competent lawyers do not answer questions about what might happen in the future. Too many possibilities.

1 Answer | Asked in Business Formation, Business Law and Contracts for Maryland on

Q: Can I force a partner out of a partnership LLC with no operations agreement, for not putting in enough time?

We are a cabinet manufacturer. We are attempting to be a women owned business that was created last year. We have not sold any work as of yet. We do have equipment we are paying for. The shop is located on my property, and everything is in my name. If I am not able to force them out, can I... Read more »

Mark Oakley answered on Jun 11, 2019

You can withdraw from the company, boot it out of your home, and demand liquidation of the assets, and either pay your co-owner their fair share of the costs they expended on the equipment, or otherwise buy out out the equipment. Meantime, start a new LLC and begin cabinet making under a new... Read more »

2 Answers | Asked in Banking, Business Formation, Business Law and Contracts for Florida on

Q: I run a mortgage loan processing company. Should I use a Contract, SLA, Non-Compete, or a NDA to protect my business?

As my business scales, I'm finding it necessary to leverage some sort of written protection to not only outline my level of service offering(s) to my clients, but also a way to outline the duties of the staff I will be hiring. I want to ensure all parties are clear on what each party provides to... Read more »

Andrea Wheeler answered on Jun 11, 2019

It is a great idea to speak with a business lawyer so that all of your relationships and transactions are based on a solid contract.

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1 Answer | Asked in Business Formation, Business Law and Contracts on

Q: please tell me the name of use supreme court decision about removal and appointing directors

I need american case law for my paper, please help me, I want supreme courts decision about directors.

Bruce Alexander Minnick answered on Jun 10, 2019

Go to the nearest public university that has a law school and go to the law library and ask for help.

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