New Jersey Business Law Questions & Answers
Q: Buying assents when LLC is dissolving and violation of fiduciary duties?
Paul J. Riviere's answer
The answer is that with an LLC when both people are Managing Members they both have a fiduciary duty to do what's in the best interests of the Company. The failure to do is actionable in New Jersey.
The answer is that with an LLC when both people are Managing Members they both have a fiduciary duty to do what's in the best interests of the Company. The failure to do is actionable in New Jersey.
Q: How to exit LLC partnership when partner doesn't want to?
Paul J. Riviere's answer
Usually you refer to the mechanism set forth in your operating agreement that governs the resignation of a member from the entity. In a case such as this you have to refer to the governing statute in NJ which is the NJ Revised Uniform Limited Liability Company Act. Moreover, you most likely need a savvy business lawyer to assist in this process.
Usually you refer to the mechanism set forth in your operating agreement that governs the resignation of a member from the entity. In a case such as this you have to refer to the governing statute in NJ which is the NJ Revised Uniform Limited Liability Company Act. Moreover, you most likely need a savvy business lawyer to assist in this process.
Q: I am sub s corp. I took a loan with a New Jersey company for 80 k. In NovemberI have paid 22,000 and stopped paying
H. Scott Aalsberg Esq.'s answer
Much more information would be needed in order to access your situation. Usury laws look at interest, but when you stop paying a loan your also responsible for attorney fees and other costs etc. Bankruptcy may also be an option for you if you can't pay the loan. I suggest you setup an appointment with a lawyer to review your loan information. Of course a lawyer will charge you a consultation fee to review the information, but it would probably be worth the money and your probably talking...
Much more information would be needed in order to access your situation. Usury laws look at interest, but when you stop paying a loan your also responsible for attorney fees and other costs etc. Bankruptcy may also be an option for you if you can't pay the loan. I suggest you setup an appointment with a lawyer to review your loan information. Of course a lawyer will charge you a consultation fee to review the information, but it would probably be worth the money and your probably talking...
Q: Cardealer wrote wrong make model and vin number on sale contract, now they want to change it because other car is more $
1 Answer
| Asked
in
Banking, Business Law, Contracts and Consumer Law
for
New Jersey
on
Answered on May 27, 2017
Answered on May 27, 2017
H. Scott Aalsberg Esq.'s answer
No you can't demand the better car it was a mistake and the you have no right to it.
No you can't demand the better car it was a mistake and the you have no right to it.
Q: What should be my steps in recovering money from a "mom and pop owner" who sold his shop to someone else?
H. Scott Aalsberg Esq.'s answer
A lot would depend on the words in the contract for services you signed with the owners as to what you can and cannot do No contract and you may be out of luck.
A lot would depend on the words in the contract for services you signed with the owners as to what you can and cannot do No contract and you may be out of luck.
Q: Do I need approval from my LLC partner if my spouse is willing to help me for free with my duties?
H. Scott Aalsberg Esq.'s answer
The answer depends on your LLC operating agreement and other agreements made by the parties. If the answer is important to you, I suggest you spend a few dollars and bring your agreements with you to a lawyer to review and get the answer you need before you do anything which could jeopardize your position.
The answer depends on your LLC operating agreement and other agreements made by the parties. If the answer is important to you, I suggest you spend a few dollars and bring your agreements with you to a lawyer to review and get the answer you need before you do anything which could jeopardize your position.
Q: Have unmortgaged commercial building. I have to close the business. Am I responsible for it if I abandon it legally
3 Answers
| Asked
in
Bankruptcy, Business Law and Real Estate Law
for
New Jersey
on
Answered on May 3, 2017
Answered on May 3, 2017
Michael David Siegel's answer
Hard to believe building has no value. You can abandon it but you still could have some personal liability for some things, like environmental contamination.
Hard to believe building has no value. You can abandon it but you still could have some personal liability for some things, like environmental contamination.
Q: How to leave an LLC?
Paul J. Riviere's answer
Being that you don't have an operating agreement, the statute will guide you as to how to dissolve or leave. If you and your partner can agree you can make a buy-out agreement. For this you need to do is get a business valuation so you know what the buy-out will cost. Along with this process are tax issues. Other issues that need to be worked out are trademarks, trade names, copyrights and so forth. Get a business lawyer to guide you through this process.
Being that you don't have an operating agreement, the statute will guide you as to how to dissolve or leave. If you and your partner can agree you can make a buy-out agreement. For this you need to do is get a business valuation so you know what the buy-out will cost. Along with this process are tax issues. Other issues that need to be worked out are trademarks, trade names, copyrights and so forth. Get a business lawyer to guide you through this process.
Q: If a ch 7 personal bankruptcy filer has capital contributions to an LLC or an S Corp, how should it be noted?
3 Answers
| Asked
in
Bankruptcy, Business Formation and Business Law
for
New Jersey
on
Answered on Mar 7, 2017
Answered on Mar 7, 2017
Michael David Siegel's answer
It should be listed as it is held in the books and records of the LLC.
It should be listed as it is held in the books and records of the LLC.
Q: What kind of lawyer is needed if I believe I am a shareholder of a company.thank you
Mary Madeline Roberts' answer
Do you want to sue the company or do you work at the company and own shares, and thus seeking an attorney to increase and/or change your share percentage, etc.? Without knowing more, you should find a corporate attorney--please message me for a free consultation. Further, within corporate law, if you're seeking to bring demand and sue the company or question it's business decision, then look for a corporate attorney with experience in corporate governance; and, if you're looking to increase...
Do you want to sue the company or do you work at the company and own shares, and thus seeking an attorney to increase and/or change your share percentage, etc.? Without knowing more, you should find a corporate attorney--please message me for a free consultation. Further, within corporate law, if you're seeking to bring demand and sue the company or question it's business decision, then look for a corporate attorney with experience in corporate governance; and, if you're looking to increase...
Q: if a manger within a company bad mouths an employee to another manger within that company is that considered harassment?
1 Answer
| Asked
in
Business Law, Employment Discrimination and Employment Law
for
New Jersey
on
Answered on Dec 2, 2016
Answered on Dec 2, 2016
Jonathan Ian Nirenberg's answer
In New Jersey employment law, something can only be harassment if the reason it happened was unlawful, such as if it is because of your age, race, gender, national origin, disability or another legally protected category. In addition, to be legally actionable harassment has to be severe (very bad) or pervasive (very frequent). While it sounds like it was unfair, I don't have enough information to evaluate whether what happened to you was harassment under New Jersey law.
In New Jersey employment law, something can only be harassment if the reason it happened was unlawful, such as if it is because of your age, race, gender, national origin, disability or another legally protected category. In addition, to be legally actionable harassment has to be severe (very bad) or pervasive (very frequent). While it sounds like it was unfair, I don't have enough information to evaluate whether what happened to you was harassment under New Jersey law.
Q: Is the NDA/Non Compete agreement I signed still valid if the company has changed names since signing?
1 Answer
| Asked
in
Business Law, Contracts and Employment Law
for
New Jersey
on
Answered on Aug 13, 2016
Answered on Aug 13, 2016
H. Scott Aalsberg Esq.'s answer
The answer would depend on the terms of the agreement. A lawyer would need to read and review the agreement first before giving you an answer as no hard and fast rules apply. Your probably looking at less than $1000 for a review it may or may not be worth it for you.
The answer would depend on the terms of the agreement. A lawyer would need to read and review the agreement first before giving you an answer as no hard and fast rules apply. Your probably looking at less than $1000 for a review it may or may not be worth it for you.
Q: How do we remove resident board members and replace with a property management company.
Leonard R. Boyer's answer
You need to consult the by-laws and retain an experienced attorney who has litigation experience in these type of matters. Good luck.
You need to consult the by-laws and retain an experienced attorney who has litigation experience in these type of matters. Good luck.
Q: NJ p2p lending firm we are not originate the loans do we have to get Consumer Lenders/Sales Finance Company license?
1 Answer
| Asked
in
Consumer Law, Securities Law, Business Law and Business Formation
for
New Jersey
on
Answered on Apr 26, 2016
Answered on Apr 26, 2016
Leonard R. Boyer's answer
You need to have an in person consultation with an experienced business attorney to learn exactly what the rules and requirements are for you to operate this type of business in NJ. You can have serious problems if you do not conduct your business properly. Good luck.
You need to have an in person consultation with an experienced business attorney to learn exactly what the rules and requirements are for you to operate this type of business in NJ. You can have serious problems if you do not conduct your business properly. Good luck.
Q: I am a personal trainer in New Jersey. I run Boot Camp sessions and asking if I am supposed to charge sales tax
Terrence H Thorgaard's answer
It depends upon whether the sales tax is a tax on services. Some jurisdictions tax goods and services; others tax only goods. It appears that you are selling a service.
It depends upon whether the sales tax is a tax on services. Some jurisdictions tax goods and services; others tax only goods. It appears that you are selling a service.
Q: My ex and I have a business (both names are on it). He hasn't paid or filed some tax forms. Should I just take care of
Leonard R. Boyer's answer
You should seek the advice of a tax attorney before you do anything. Good luck.
You should seek the advice of a tax attorney before you do anything. Good luck.
Q: Does filing a financial statement as a d/b/a invalidate that statement or cause a loss of perfection?
Leonard R. Boyer's answer
There is an insufficient factual basis to answer your questions and address your concerns. You need to rewrite your statement in the form of a meaningful question for someone to be able to provide useful ideas. Good luck.
There is an insufficient factual basis to answer your questions and address your concerns. You need to rewrite your statement in the form of a meaningful question for someone to be able to provide useful ideas. Good luck.
Q: Operating a new business on h1b/ead
Leonard R. Boyer's answer
Your understanding is erroneous. Here is a USCIS link which states what you can and cannot do. http://www.uscis.gov/eir/visa-guide/h-1b-specialty-occupation/understanding-h-1b-requirements. You should retain an immigration attorney to avoid problems. Good luck.
Your understanding is erroneous. Here is a USCIS link which states what you can and cannot do. http://www.uscis.gov/eir/visa-guide/h-1b-specialty-occupation/understanding-h-1b-requirements. You should retain an immigration attorney to avoid problems. Good luck.
Q: I am an independent contractor in New Jersey. Do I need to return an overpayment in this state?
Adam Studnicki's answer
They will likely be contacting you when they figure this out. If you didn't earn the money, you probably don't have the right to keep it. A local lawyer can advise.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and...
They will likely be contacting you when they figure this out. If you didn't earn the money, you probably don't have the right to keep it. A local lawyer can advise.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and...
Q: need a nj lawyer that handles department of community affairs
Adam Studnicki's answer
This is a general Q&A tool. You can use the Find a Lawyer tool on this site, or Google, to search for lawyers. Be well.
This is a general Q&A tool. You can use the Find a Lawyer tool on this site, or Google, to search for lawyers. Be well.
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