I opened the doors to my s-corp in 2020 and due to covid I may have to file for bankruptcy. I have a great opportunity to buy a house now and don't know if the bank will go after my house for collateral. Should I wait to see what the business does or is it safe to buy a house prior to a... Read more »
If you are a personal guarantor, any judgment against you could attach to your home. So, if you file for bankruptcy first, buying a house would most likely be more difficult, but if you buy a home are sued, and the other side wins it could attach to your home as a lien.
We found out that one of the shareholders was secretly planning to leave the company and start a direct competition literally two blocks away from us. There is a shareholder agreement that everyone signed that has a noncompete clause which prohibits shareholders to be involved in a competition for... Read more »
Yes, one always has a right to litigate a valid issue. The question did not state whether any dispute concerning the contract was to be arbitrated instead of litigated. For purposes of my answer, I presumed there was no such provision in the agreement. The issues that a court will look to are... Read more »
I did a confession of judgment for a merchant cash advance, I had to close a small businesses that I had and with the confession of judgment the cash advance companie got a judgment against me, I read that confession of judgment doesn't apply out of the state of NY, I live in New Jersey an... Read more »
Likely it will not be vacated bc you agreed to it. Hire a bankruptcy attorney to evaluate your financial situation and consider filing chapter 7 to eliminate the judgment.
We are family consulting microbusiness, owned by my wife (she does not do work in this business). I feel Workers Compensation Insurance is useless for us, but dont want to pay fine for not having it.
Thank you
Gregory
You may still be required to carry workers comp insurance. Check with the NJ Dept. of Labor and Workforce Development based on what type of work entity you have created.
"Sole Proprietorship – All sole proprietorships operating in
New Jersey must maintain workers’... Read more »
Also, would passengers be allowed to drink alcohol while I drive? The open container law says This subsection shall not apply to a passenger of a charter or special bus operated as defined under R.S.48:4-1 or a limousine service. Like I previously mentioned, I own a registered and insured minibus... Read more »
What you want to do is a recipe for major problems. You really need to retain an experienced business attorney, who can set up the right corporate entity and of course, you will need the right type of insurance. Failure to do so could result in your personal assets being placed at risk. Trying to... Read more »
Making multiple statements about what is essentially the same thing does not accomplish anything. Consulting an experienced civil litigation attorney will.
From your statement, it is obvious that there needs to be a personal strategy session with an experienced civil litigation attorney. This will also be beyond the scope of what most attorneys will include in a free consultation. During this pandemic, you have a choice of either seeing your attorney... Read more »
Sole owner LLC has only one asset, the deeded property. Since 2005, LLC has not done any other business (no profit or loss). LLC Never filed any annual reports, has no bank account, never filed a tax return. Question: does revoked LLC have to be reinstated to "wind down" business (sale of... Read more »
A prudent buyer will requirea tax clearance letter from the State. The buyer will file a bulk sales notice with the State. You will need to provide your TIN so that the notice can be filed.
i got letter for $12k penalty but did not pay and closed store. but even after couple of year, they took money around $15k and still shows $23k i have pay after penalty and interest on it. i would like to resolved this. please help.
It sounds like you may have received a charge letter, pursuant to 7 C.F.R. §278.6(b), did you respond? You need an attorney to help you mitigate the penalties you are faced with. The USDA or AG's office can be very challenging to deal with.
I signed a contract and have paid. My fiancé is being deployed next year so we cannot reschedule. The venue is making changes to what is in my contract due to COVID restrictions and I want to just cancel and be refunded.
In addition to whatever the terms are in your contract, there are principals of general contract law regarding unforeseeable intervening events, impossibility and frustration of purpose that may apply to your situation. In addition, if the venue refuses to allow you to cancel and return your... Read more »
I got married back in November, we hired this company to do our video, photography and flowers. The videographer showed up a hour late causing our wedding to pushed back a hour. The videographer told the company he was in a car accident, but it turns out he never was. He was fired. 8 months has... Read more »
This is definitely a breach of contract case. You may even be entitled to triple damages if your lawyer can prove consumer fraud which may allow you to get back the payment you will need to make to hire a good lawyer. Setup an in office consultation with a good lawyer of your choice.
Because the Statutes require all forms of corporate entities to be represented by attorneys in all legal matters.
GPs should be contained within the Operating Agreement. You also need contingency planning in case GPs become impractical or impossible. Speak with an experienced business attorney to get an agreement that works for your business.
What can I do to get him out for good and so that he has no recourse to try to claim a portion of the business anymore
You need to come to terms on a transfer of the absent partner's interest in the business to you. This can be done with a buyout or some other form of transfer or in the worst case scenario by judicial determination. Get in contact with an business lawyer to proceed properly.
What licensing will I need to acquire and how much will I be taxed or charged to hold the business
You need to speak with a lawyer, this not a question that can be answered in a free short question and answer posting as many questions need to be asked by the lawyer.
Essentially I want to find homes, sign offers to purchase, and then sell the interest in those properties to house flippers who will make more money for a fee. Do I need a real estate license in NJ? Should I incorporate? Do I tell my current employer? Thanks for your input!
You really need to have an experienced business and real estate attorney set up the right corporate structure, draft the contracts and handle all legal aspects of your business. Good law firms will enable you to retain their services on an ongoing monthly retainer. Remember, a good lawyer is rarely... Read more »
then they sent some checks. for me they sent an email they say they will send me a check of $13 But i'm sure it was more than $13 i heard some drivres they hire a lower and they get more than that
This is not workers comp. It is more in the field of wage and hour compliance. Google the NJ Department of Labor. Go to the tab on Worker Protection and wage and hour compliance will pop up. That will make for good background reading. if you don't have the answer after that contact a wage... Read more »
Home improvement contract. I cancelled two days after signing (within the 3 day period). Contractor already cashed my check. How long do they have to refund me my money?
The refund should be made promptly, if you provided proper written notice of the cancellation. It is extremely rare for a home improvement contact to be legally valid in the State of New Jersey. You should discuss this situation with an experienced civil litigation attorney. With state-of-the-art... Read more »
I want to start a small embroidery business and a common way to make designs is to buy them off of sellers on etsy. Would I be able to sell products with their designs?
As Mr. Boyer says, you would need a license to use the design, because whatever you produce based on the pattern would be a derivative work. Check the Terms of Use on the website where the design was posted. Most likely it gives you a limited license to make products for your own use, but not for... Read more »
I’m in the works of a clothing business and want to know what steps I need to take in order for the name to be secure? I want the brand name safe from being taken. Also curious if there’s a way to copyright it, or whatever the proper terminology is, before launching the business?
If the word you use for your company's name is also the trademark/brand you want to protect, that can be done by filing an Intent to Use trademark application with the USPTO. This kind of application can be filed before you open for business. It is a way to put down a "tap tap... Read more »
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