Frozen Bank Accounts and Restraining Notices

Frozen Bank Accounts and Restraining Notices

An unpleasant but common experience: an old judgment against you comes back to haunt you. Possibly you didn’t even know it existed: the complaint may have been served in the wrong place and you never got a copy, or the opposing party may even have filed a false affidavit claiming you were served (known as “sewer service”). The first way many of us find out that an old judgment...

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When 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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Lack of Shareholder Agreement leaves Dentist’s widow empty handed

As New York Business Divorce reports today, the lack of a shareholder agreement caused a New York widow of a dentist, who was practicing dentistry in a professional corporation, to be left with nothing.   Despite the fact that the deceased dentist was a 75% shareholder in the dentist professional corporation and his widow had found a dentist purchaser for the dentist practice offering...

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