Can I get out of that Contract?
You may have signed a contract for your small business that you really shouldn’t have. Or you are being asked to perform under an agreement and just think that such demand is not what you agreed to or just grossly unfair. Is there any way to get out of that contract or that specific provision? Determine what the Contract states The other party to the agreement may demand all kinds of...
Read MoreKeeping Records for your LLC
This may come as a surprise to many LLC members and managers: keeping certain records is required under the LLC laws. You have an obligation to keep proper records under §1102 of the New York Limited Liability Company Laws. Specifically, you must maintain the following records: - if your LLC has managers, a list of the full names of all managers and their mailing addresses; - a list of all...
Read MoreBusiness Partnerships Gone Bad
A business break-up can be as stressful and emotionally draining as the breakup of a marriage. And there is always a child involved....the business. So when your business partnership has gone bad, you really want to find out where you are standing and what rights you may have vis a vis the other business partners and the business.
Read MoreIncreasing your Chances of Collecting Outstanding Invoices
I wish every small business that all its clients and customers always pay what is owed. Unfortunately, we know this not to be true. At a certain point, all small businesses face the dilemma of either writing off an unpaid invoice or trying to collect it in court. But there are measures you can take to increase the likelihood of collecting outstanding invoices. One is a written agreement,...
Read MoreEvidencing Ownership in a Corporation – Nothing beats a Share Certificate
Nothing beats a Stock Certificate when you have to prove your ownership in a business corporation.
Read MoreWhen it Smacks, it Cracks – Your Limitation of Liability Clause, That Is
I am sure you have seen this or a similar contract clause before: "The Company's liability for damages, including incidental or consequential damages, is limited to the total compensation paid to the Company by Customer" In New York, it is perfectly fine to include such a clause in a contract among business people, with the effect that the Company would not be...
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