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now I'm being told I'm personally on the hook for it - is there any way out of this?
answered on Nov 2, 2017
Depends on your structure. Were you formed as an GP, LP or LLP. If you were a general partner, then yes you may be on the hook. Get in touch with a Lawyer who knows business law. They will be able to look over your structure and governing documents to determine what your exposure is or isn't.
answered on Oct 20, 2017
Your question is not so much legal and more so a business decision. Perhaps it will be Pro rata to the initial Capital contributions or investment of each stakeholder? Perhaps it will be structured where one partner or member putting up all the cash and the other partner contributing Sweat Equity?... View More 
So i have a question about a case. It was listed on McDonald Website that today only they would be offering this sauce called szechuan dipping sauce and it was only at participating locations from 2pm-10pm. I arrived at one of the few participating locations in New Jersey and much to my dismay they... View More
answered on Sep 27, 2017
Your question is unanswerable in its current form. Unless your are getting quoted a flat fee for representation in the lawsuit it is impossible to say that it will cost $2500.00. What are you getting sued for? Are experts going to be required? How many parties are involved? Is it in federal court... View More
I don't believe it will be a major deal as my company is young and has some business loan debt and credit card. I am being sued and have a court date November 16 and they say I need a lawyer but I can't afford one. How much is a lawyer to show up at the court with me? Thanks
answered on Sep 27, 2017
It really depends on what the matter is and how much time it will take. You could have lawyer fees for simple matters, being 2500, and from there it goes up. Can't say I have ever heard of Pro Bono for a Business
an invasion of my privacy? Can I sue him as a result? Also if his friends have hacked into my cellphone to obtain private information and set up fake websites, like fake Google, can I build a case of intrusion upon seclusion for the mental anguish that I'm experiencing as a result? Can I also... View More
answered on Sep 24, 2017
If your boyfriend was a part of the conversation he is allowed to record it, as for the rest of our question I will leave that for other counsel to answer.
Whether I hire a business lawyer to restructure or a bankruptcy lawyer to file for the company. My company and I are being sued for business loans/line of credit we are unable to pay back. I still have no funds to pay for a lawyer but would like an estimated price. One is based in Passaic county... View More
answered on Sep 21, 2017
No one could answer these issues online. The issue is whether the business is worth saving, how much you have personal liability for, and how much is involved.
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answered on Sep 19, 2017
A business registration certificate is completely different.
Entered into work project with client in July - contract ended on last day of September (this month). It was an open contract as far as deliverables, was helping him with marketing, sales, business development, and branding. He paid fully for one month, defaulted $500 second month, and refuses to... View More
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answered on Sep 19, 2017
You need to retain counsel to handle this matter. Do not say anything to this person and print out and bring everything to an attorney, who can advise you. No contract should be drafted by anyone other than a licensed attorney. The money you spend having an attorney draft a contract will save you... View More
He wants out and doesn't want to be apart of it. Now wants all the money he invested back. Can he cone and take his equipment back that he bought from the property that I lease?
answered on Sep 17, 2017
Maybe it would depend on the terms of your operation agreement which I hope you have.
answered on Sep 1, 2017
You can issue 1099's to yourself and your spouse for distributions from the company.
We are a subcontractor from PA setting modular homes in NJ. We are hired by the builder or manufacturer. We do not deal with the homeowner in any way. Is there a law in NJ stating that we need to have a contract with start/end dates and rescission clause? All my research shows the contractor should... View More
answered on Aug 17, 2017
You need to meet with a lawyer and have the lawyer review the laws with you and of course a lawyer will charge you for this. Not only do you have to worry about state laws but also local township ordinances on what you are allowed and not allowed to do.
2 decks were refinished by a company using a product. the product was later found out to be defective. The job needs to be done completely over.
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answered on Aug 13, 2017
Difficult to say. You will likely have some finger-pointing. The manufacturer will say that your contractor did not heed warnings or instructions on the label. The contractor is blaming the defective product.
You problem is, that the claim is too small for most civil lawyers to want to... View More
I want to re-sell unofficial BTS clothing. BTS (Bangtan Seonyeondan) is a Korean Boy band. They are owned by the Korean record label Big Hit Entertainment, the copyright holding company. Big Hit succesfully copyrighted "BTS" in the US in April. I'm not worried about trademark... View More
answered on Jul 20, 2017
If they have a registered trademark in the US on the acronym for the band, selling t-shirts with that TM would be infringement. You should ask for a license since you indicate they do not sell merchandise. Whether a "reseller" or with a website disclaimer, the business you describe would... View More
personal mostly cc but a couple of bus and credit lines. Was served court papers for 1 already. How do I follow up with all this? I wanted to declare bankruptcy months ago, but I haven't had any income above what my immediate bills are.
Thanks.
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answered on Jul 18, 2017
You need to immediately retain an experienced bankruptcy attorney.That is the best and most cost effective way to handle this situation.
How close can a company get to not being called a bank legally?
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answered on Jun 30, 2017
Your question is too vague to answer.
Can a company sell virtual points that people can buy and use to buy stuff from stores that agree to cash in those points for money at the end of every month from the company?
How CLOSE can a company get to avoid been called a bank legally?
answered on Jun 30, 2017
Your able to loan money within certain interest rate limits but cannot maintain money accounts or participate in issuing credit cards or anything offered by Federal Reserve. But this a very tricky area that needs lots of research as failure to follow state guidelines can lead to imprisonment. You... View More
I am a 50% partner of LLC which has one more member. Due to recent events, I am discussing LLC dissolution with my partner. She already knows that I am not interested in continuing this partnership. We are negotiating the exit but in meanwhile do I have to continue answering new inquiries and sign... View More
answered on Jun 27, 2017
The answer is maybe and could be in your operating agreement for the LLC which I lawyer would need to review. I suggest you hire a lawyer for the dissolution and ask that lawyer what you should do otherwise you do risk a law suit.
10 years ago, my partner and I started 50/50 LLC business. He takes wedding photos and I take wedding videos. For 10 years, I spent my own money to buy equipment needed to video and he spent his own money to buy equipment needed for photo. Profit was always 50/50. We are dissolving the company in... View More
answered on Jun 25, 2017
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.
We have two partners LLC and each of us owns 50%. There is no Operating Agreement. Due to conflicts and trust issues, I like to exit the LLC with my share of IP, cash and assets. My partner is not cooperating since he doesn't want me to leave. What should I be doing to make sure I exit LLC... View More
answered on Jun 8, 2017
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... View More
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