Kentucky Business Law Questions & Answers

Q: Is a check that was agreed to be held that gets cashed by a business and returned as NSF a civil or criminal matter?

1 Answer | Asked in Banking, Business Law, Civil Litigation and Criminal Law for Kentucky on
Answered on May 1, 2018
Timothy Denison's answer
The Lexington attorney is correct. If they agreed to hold it ( knowing the funds weren’t there and wouldn’t be there until later), it is a civil matter as you cannot defraud one who accepts a check knowing that the funds are not contemporaneously there.

Q: Is it against the law to ask someone to commit federal fraud?

1 Answer | Asked in Business Law, Construction Law, Criminal Law and Federal Crimes for Kentucky on
Answered on Apr 18, 2018
Timothy Denison's answer
Yes. That is against the law. Don’t do it.

Q: I signed a contingency agreement for a Class Action, can I negotiate directly with the company being sued to resolve?

1 Answer | Asked in Business Law, Civil Litigation, Consumer Law and Contracts for Kentucky on
Answered on Apr 17, 2018
Timothy Denison's answer
You may be inbreach of the contract if you do. If you want to negotiate the contract yourself, you should terminate the lawyers services before attempting to negotiate directly with the company. The lawyer is entitled to be paid for whatever time he has in up to the point of termination.

Q: 3 month contract says I cant have another job during my final notice.

1 Answer | Asked in Business Law, Contracts and Employment Law for Kentucky on
Answered on Apr 17, 2018
Timothy Denison's answer
It probably is enforceable. If the contract does not preclude you getting another job before you give notice, then you should first acquire the new job and thereafter give your 90 day notice.

Q: If a business goes bankrupt, is there still something you can do seven years later?

1 Answer | Asked in Business Law and Contracts for Kentucky on
Answered on Apr 17, 2018
Timothy Denison's answer
If you were listed as a creditor in the bankruptcy seven years ago the contractor was discharged, your opportunities died with the discharge. If you were not listed as a creditor, then you may take action against him.

Q: A friend and I opened a company with 50-50 owner ship.

1 Answer | Asked in Business Formation, Contracts and Business Law for Kentucky on
Answered on Apr 17, 2018
Timothy Denison's answer
You’re going to have to hire a lawyer to protect you. If the business is a sole proprietorship, the taxes should be paid by the sp before any profits are distributed. If there is a deficit, you each owe 1/2 the deficit. If it is a Partnership or corporation, similarly, the p or c should pay the taxes before the money is distributed.

Q: Why can my LLC’s liquor/beer License be revoked due to unpaid state taxes by LLC I bought the business from?

1 Answer | Asked in Business Law, Contracts and Tax Law for Kentucky on
Answered on Apr 17, 2018
Timothy Denison's answer
Liquor licenses are a highly regulated area by government. When you purchased the LLC you should have been made aware of the back taxes owed. You probably have a cause of action against the sellers for failing to disclose that information.

Q: Bankruptcy or credit card question. Can I be arrested for not paying creditors?

1 Answer | Asked in Bankruptcy, Business Law, Consumer Law, Contracts and Collections for Kentucky on
Answered on Feb 19, 2018
David Earl Phillips' answer
There is no debtor's prison. If there was, over 50% of Americans would be in jail. You may very well be judgment proof and not need a bankruptcy filing. It would still not hurt to talk with a bankruptcy near you to get an opinion and to see all of your options. Most lawyers offer a free consultation to review your situation. Hope it works out. Good luck!

Q: The air bag on my car exploded for no reason.it gave me a cuncussion.do I have a lawsuit?

1 Answer | Asked in Car Accidents, Personal Injury and Business Law for Kentucky on
Answered on Jul 18, 2017
Peter Munsing's answer
Possibly. Contact a member of the Ky. Trial Lawyers Assn that handles product cases.

Q: My son had side business paid no taxes. Now figured out he should what does he need to do now.

1 Answer | Asked in Business Law and Tax Law for Kentucky on
Answered on Sep 26, 2016
Matthew M Montoya's answer
You should find a Tax Controversy attorney to handle the matter. There are a lot of different ramifications that depend on the exact factual scenario.

For example, a "side business" that involves occasionally making trinkets and selling them on Etsy is very different from a "side business" that makes a profit like a "real" business. The amount of money as well as the length of operation can also make a difference.

Again you would best be served by seeking a tax...

Q: Who is responsible for a stock certificate?

1 Answer | Asked in Business Law for Kentucky on
Answered on Aug 28, 2015
Adam Studnicki's answer
If it's going to cost that much (sounds remarkably steep), it's certainly worth an hour consultation with a local business lawyer to determine your rights and options.

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