New York Business Law Questions & Answers
Q: can i be sued personally by an attorney that was used for our business?
Barry Eran Janay's answer
Probably not, but then again I have on many occasions asked for personal guarantees of payment from my client in my engagement letter, so check your engagement letter for what it says and how it was signed by you.
Probably not, but then again I have on many occasions asked for personal guarantees of payment from my client in my engagement letter, so check your engagement letter for what it says and how it was signed by you.
Q: Can I start an online buisness and sell fidgets(which are toys) before registering to anything just to test the market
3 Answers
| Asked
in
Tax Law, Business Formation and Business Law
for
New York
on
Answered on Jun 21, 2017
Answered on Jun 21, 2017
Barry Eran Janay's answer
Yes, just check with the dept. of taxation regarding whether you have to charge sales tax or not if you are just selling online.
Yes, just check with the dept. of taxation regarding whether you have to charge sales tax or not if you are just selling online.
Q: Does owning and renting out a home in New York State constitute doing business in New York State?
3 Answers
| Asked
in
Business Law, Contracts, Landlord - Tenant and Small Claims
for
New York
on
Answered on Jun 20, 2017
Answered on Jun 20, 2017
Peter Klose's answer
I would check with the Town Justice Court, but my guess is that if you list the address of the house (owner) and the address in NJ, you will get the case started, and the Landlord will appear
I would check with the Town Justice Court, but my guess is that if you list the address of the house (owner) and the address in NJ, you will get the case started, and the Landlord will appear
Q: Wife's ex-husbands house being foreclosed on, can they come after our business assets and personal assets?
Michael David Siegel's answer
Once the foreclosure is done, the bank would need to seek a deficiency judgment. You need to fight that motion.
Once the foreclosure is done, the bank would need to seek a deficiency judgment. You need to fight that motion.
Q: Does a broker have to - by law - submit a commission statement or similar invoice in order to receive their commission?
1 Answer
| Asked
in
Real Estate Law, Business Law and Securities Law
for
New York
on
Answered on Jun 12, 2017
Answered on Jun 12, 2017
Barry Eran Janay's answer
I am not aware of any law requiring a commission statement, however just about every closing I have handled, literally hundreds, the broker has almost always created a memorandum of sale at the outset which delineates the parties, price, and terms of the deal and then prior to closing the broker or broker's send an invoice to notify the buyer / seller's attorney how much is owed and how to make the check out. Considering the small amount of time and effort it takes to put together an invoice /...
I am not aware of any law requiring a commission statement, however just about every closing I have handled, literally hundreds, the broker has almost always created a memorandum of sale at the outset which delineates the parties, price, and terms of the deal and then prior to closing the broker or broker's send an invoice to notify the buyer / seller's attorney how much is owed and how to make the check out. Considering the small amount of time and effort it takes to put together an invoice /...
Q: A former client sued my business. If they win a settlement, but my business has no assets, can they come after me for
Michael David Siegel's answer
Yes and no. If you are not personally a defendant they can only get to you by "piercing the corporate veil" and proving commingling of funds. This requires a subsequent motion by them.
Yes and no. If you are not personally a defendant they can only get to you by "piercing the corporate veil" and proving commingling of funds. This requires a subsequent motion by them.
Q: MLO license withdrawn after 20 yrs. Under article 12 e NYS law ? Conn. renewal denied. Can MLO work in another state?
Barry Eran Janay's answer
Your questions are very specific and require review of documents. I suggest you retain an attorney on a limited basis to advise you. If you like I can assist.
Your questions are very specific and require review of documents. I suggest you retain an attorney on a limited basis to advise you. If you like I can assist.
Q: Business contracts from one state to another.
Michael David Siegel's answer
It depends if the contract chooses a law, then that governs. If no law is chosen, it depends on the issue. There is a whole academic topic called "Conflict of Laws" on this issue.
It depends if the contract chooses a law, then that governs. If no law is chosen, it depends on the issue. There is a whole academic topic called "Conflict of Laws" on this issue.
Q: Can a PLLC own a subsidiary that offers a related but non-professional service?
Michael David Siegel's answer
No. The owner would have to be the individual who also owns the PLLC. This should not change tax analysis.
No. The owner would have to be the individual who also owns the PLLC. This should not change tax analysis.
Q: Can owner of project demand me to credit part of job based on payment schedule G703 form.
1 Answer
| Asked
in
Business Law, Contracts, Construction Law and Government Contracts
for
New York
on
Answered on May 23, 2017
Answered on May 23, 2017
Barry Eran Janay's answer
The short answer is that you have to carefully look at the contract and scrutinize the obligations each of you have. The long answer begins with "it depends..." Basically the rules of contract law will government, when there is a breach each side has a duty to mitigate damages / losses. Inadequate or shoddy workmanship does qualify as performance on a contract and therefore doesn't obligate the other party to pay.
The short answer is that you have to carefully look at the contract and scrutinize the obligations each of you have. The long answer begins with "it depends..." Basically the rules of contract law will government, when there is a breach each side has a duty to mitigate damages / losses. Inadequate or shoddy workmanship does qualify as performance on a contract and therefore doesn't obligate the other party to pay.
Q: A carrier claimed they were returning my parcel but they have not. They ignored all my requests for tracking information
Mitchell A. Nathanson's answer
See the shipping agreement as to the extent of liability. Often, if you declare a value and pay for additional insurance, you can make a claim. Otherwise, it will be difficult to prove the value of what was shipped.
#LegalQ&A
#NathansonLaw
See the shipping agreement as to the extent of liability. Often, if you declare a value and pay for additional insurance, you can make a claim. Otherwise, it will be difficult to prove the value of what was shipped.
#LegalQ&A
#NathansonLaw
Q: In NY, is it legal to offer potential clients a $5,000 reward if we cannot provide a more cost effective solution?
Barry Eran Janay's answer
I am pretty sure that you're referring to a "Fair Trade Law" NY enacted, but the section you quoted pertains to games of chance, not to an offer for a cash reward if you are unable to provide a better deal. As such, it doesn't appear that you would be violating the law by making such an offer. If you didn't actually pay or provide the services then that would be another story.
I am pretty sure that you're referring to a "Fair Trade Law" NY enacted, but the section you quoted pertains to games of chance, not to an offer for a cash reward if you are unable to provide a better deal. As such, it doesn't appear that you would be violating the law by making such an offer. If you didn't actually pay or provide the services then that would be another story.
Q: Do Certificate of Incorporation Under Section 402 of the Not-for-Profit Corporation Law have to be updated periodically?
Michael David Siegel's answer
The certificate is never updated for these issues, but there is an annual report that you should be filing which covers these issues.
The certificate is never updated for these issues, but there is an annual report that you should be filing which covers these issues.
Q: Is a typed email receipt valid for a business tax write-off?
Linda Simmons Campbell's answer
The IRS requires you to provide "credible evidence" to substantiate a deduction. This should be fine but if you have the cancelled check, keep that as well. If you have a business card from the person you paid, attach it to the email and keep it in your files.
The IRS requires you to provide "credible evidence" to substantiate a deduction. This should be fine but if you have the cancelled check, keep that as well. If you have a business card from the person you paid, attach it to the email and keep it in your files.
Q: I rented stalls at a training center for my race horses and one of them was given drugs when I was not there. can I sue
1 Answer
| Asked
in
Business Law, Contracts and Consumer Law
for
New York
on
Answered on May 7, 2017
Answered on May 7, 2017
Ali Ebrahimzadeh, Esq.'s answer
You can sue the people who gave your horses drugs without your consent; and if the center failed to provide any security which they promised to do, then you might be able to sue them as well. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AEesq.com. I practice...
You can sue the people who gave your horses drugs without your consent; and if the center failed to provide any security which they promised to do, then you might be able to sue them as well. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AEesq.com. I practice...
Q: I have a fee dispute with a financial firm/lender based in NJ regarding a note and mortgage for a property that is in NY
Michael David Siegel's answer
You can do either one, but if you are in New York, New York is probably better.
You can do either one, but if you are in New York, New York is probably better.
Q: Terms of payment of the corporation's claim
2 Answers
| Asked
in
Bankruptcy, Contracts, Business Formation and Business Law
for
New York
on
Answered on May 5, 2017
Answered on May 5, 2017
Q: Confusion on phrase *except for in your bad faith to all of the foregoing*
Barry Eran Janay's answer
This provision appears to relate primarily to the brokers entitlement to a commission and the conditions in which it will be deemed "earned." I read this paragraph to mean that: If there's bad faith that prevents the deal from closing the commission will be considered earned.
This provision appears to relate primarily to the brokers entitlement to a commission and the conditions in which it will be deemed "earned." I read this paragraph to mean that: If there's bad faith that prevents the deal from closing the commission will be considered earned.
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