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Florida Mergers & Acquisitions Questions & Answers
2 Answers | Asked in Business Formation, Business Law, Mergers & Acquisitions and Contracts for Florida on
Q: How can a minor buy shares in a private startup company?
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jul 23, 2020

Until you are 18 your are not legally able to enter into any contracts. Period. The reason is because most kids under 18 are not capable of making sound financial decisions and can avoid responsibility if any company allows them to enter into contracts. The only other option is to get someone else... Read more »

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1 Answer | Asked in Employment Law and Mergers & Acquisitions for Florida on
Q: What rights do I have as an employee at a franchise that corporate is soon buying back?

I am an employee at a franchise my boss owns. There is talk that corporate is buying back the franchise to do with it what they want since my boss who owns the franchise is defaulting on loans. I am worried for my job if this happens, do I have any rights?

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jan 10, 2020

Unless you have a written employment agreement you are at risk of losing your job. On the other hand, if you are a great employee the new owner might keep you on.

1 Answer | Asked in Mergers & Acquisitions, Criminal Law and Federal Crimes for Florida on
Q: Which fed crime is it to handle fed mail at a business where USPS drops off mail and security sorts it for residents?

If usps drops of a bunch of mail and its up to security with no mail certification to sort mail and throw out “junk” mail which is up to discretion of the officer, then what crime is commited. Im looking for any reference to a statute in florida law. Also any reference to the possibility of... Read more »

Terrence H Thorgaard
Terrence H Thorgaard answered on Nov 30, 2019

Presumably residents have agreed that junk mail be discarded by security. If so, it would not be a crime to do so (and in any event it would be a federal matter; you will not find Florida state statutory law on the subject). Assuming that, you can be fired for refusing to do your job as assigned.

2 Answers | Asked in Civil Litigation, Contracts and Mergers & Acquisitions for Florida on
Q: If the place I live was bought out by another company and they did not give us new leases, is this an issue?

I live in a mobile home park and I was under the impression that I was purchasing it. Basically like a mortgage payment and then a lot rent. In any case the park sold to another owner and my title is in that business name, and my lease is the original owners business name. The new owners stated... Read more »

Charles M.  Baron
Charles M. Baron answered on Sep 24, 2019

It's legally impossible to be "under the impression that I was purchasing it" if you didn't have a legal document drawn up for that purpose. I'm guessing that the new owner of the mobile home park intends to kick you and the other residents out at some point in order to... Read more »

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2 Answers | Asked in Mergers & Acquisitions and Probate for Florida on
Q: What are the consequences/legality of purchasing a restaurant business if one of the 3 owners is in probate?

We're a week out from completing our due diligence period for purchasing a restaurant and it was just disclosed to us the deceased owner's name is still on the company and though they had a will it could place their share of the restaurant in probate.

Nina Whitehurst
Nina Whitehurst answered on Sep 20, 2019

The deceased owner's estate needs to be probated in order to transfer ownership of that share of the business to the deceased owner's heir(s). However, there is much more to it than that. There might be a buy-sell agreement in place or other mechanisms for dealing with the death of an... Read more »

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1 Answer | Asked in Mergers & Acquisitions for Florida on
Q: If an agreed upon merger ends up not happening because one company pulls out last-minute, what are the other company's

remedies?

Stefan Dunkelgrun
Stefan Dunkelgrun answered on Sep 16, 2018

that depends entirely on what kind of interim agreements the two companies had.

2 Answers | Asked in Business Law and Mergers & Acquisitions for Florida on
Q: I am purchasing a tax/accounting business near Sarasota, Florida. I need an attorney for advice.

The sale is going through a broker. What type of lawyer do I need? And what should I look out for. I received a sample letter. Would like to review with attorney as well as any other documents that may come up as well as due diligence of the business.

Andrea Wheeler
Andrea Wheeler answered on Jul 20, 2018

You will need a business lawyer. Look for one that concentrates in business law so that they will have experience with purchases.

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Q: Can a bankruptcy court go back and tell a corporation they have to compensate smaller stockholders

I owned stock in a oil drilling company think it was ocean rig there was a bunch I would have to call fidelity to be 100% sure. Bought the stock800-900 shares for a buck each when oil tanked. They restructured right as oil bottomed out got out of anyone who had like less than 10000 shares and now... Read more »

Timothy Denison
Timothy Denison answered on Jul 6, 2018

The court has the power to consider such repayment as you ask, but it is highly unlikely they would exercise it based on the above.

1 Answer | Asked in Business Formation, Business Law and Mergers & Acquisitions for Florida on
Q: Can a not-for-profit organization exist by just donating all of its profit instead of taking specific actions?

We have a for-profit LLC that we wish to convert it into a not-for-profit organization. We sell physical products and donate 100% of our profits already.

We would like to know if it is possible for a not-for-profit organization to be legal and retain its status if instead of doing the... Read more »

Andy Wayne Williamson
Andy Wayne Williamson answered on Feb 16, 2018

Short answer. Maybe. However this question is beyond the scope of this site.

You need to consult with a business law attorney on this issue as it is more complex than just a simple yes or no answer.

1 Answer | Asked in Contracts, Mergers & Acquisitions, Business Law and Real Estate Law for Florida on
Q: Sale of mobile home cooperative: what percentage positive vote is required to accept offer to buy.
Andy Wayne Williamson
Andy Wayne Williamson answered on Jan 24, 2018

No way to say here online. First step would be to have an attorney review the MH cooperative documents as they should set such requirements.

Good luck,

2 Answers | Asked in Contracts, Mergers & Acquisitions and Business Formation for Florida on
Q: How do I structure a 501c3, when my plans are to grow to national and hyper-local chapters?

I am starting a non-profit corporation in the state of Florida, with the intention of applying for 501c3 status. My vision is to grow this non-profit into a nationwide organization, with responsibility for directing the activity of a “chapter” in each state overseeing a “chapter” in each... Read more »

Andy Wayne Williamson
Andy Wayne Williamson answered on Jun 14, 2017

I suggest that you hire a business attorney to work with you through this process and get specific one on one advice face to face. This is a large goal that you have which is great but you need to get an attorney on board now and build the structure as you go forward.

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1 Answer | Asked in Mergers & Acquisitions and Business Law for Florida on
Q: Would a UCC search on an entity show me all liens, warrants, and the like available in public records for that entity?
Jonathan R. Roth
Jonathan R. Roth answered on May 25, 2017

It will show you all commercial liens, but not necessarily all warrants or judgments or attachments. Likewise, it will not show you state or federal tax liens or liens against real property. Tax liens you need to check with the state and federal government sites. IRS liens can be searched at the... Read more »

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