Get free answers to your Business Formation legal questions from lawyers in your area.
I am selling my part of a multi-member LLC to another person in Maine. We have drafted a buy-sell agreement for the transaction, but it has not been reviewed by an attorney. All members of the LLC have agreed to the sale. Since this is my first time handling such a transaction, I would like to know... View More 
answered on Feb 23, 2025
The paperwork for change in the membership in the LLC is kept with the LLC, and not filed with the state. The LLC will need to file an Annual Report with the Maine Secretary of State by June, and that should reflect the change in the membership.
As part of the buyout, you will sign a... View More
I sold my share in a multi-member LLC business in Maine, which I started with an investment of $7,500. I sold my part for less than $5,000, and I owned the business for less than 2 years. I didn't receive any other compensation or benefits, and there were no outstanding debts or liabilities... View More
answered on Mar 2, 2025
You should discuss this with an accountant because there may be other information needed to answer. But it sounds like you would want to include it as a loss on your tax return.
A customer in Florida sent a Cashiers check to me (I am in Maine). He sent a check for more than he meant to pay, my question is am I legally obligated to pay him back the extra money?
answered on Apr 14, 2019
I think the short answer is yes. It sounds to me like you and your customer reached an agreement on how much he was to pay you, thereby establishing a contract. For some reason, he overpaid you. Unless he intended the overpayment as a gift, it seems to me he is entitled to have you return the... View More
Justia Ask A Lawyer is a forum for consumers to get free answers to basic legal questions. Any information sent through Justia Ask A Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between Justia and you, or between any attorney who receives your information or responds to your questions and you, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask A Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises, or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
