Mona R Conway’s Answers

I'd like to just add a few more points to the sound responses of my colleagues. First, the specific contract terms are critical. There must be a geographical limitation to the non-compete. The law will not allow the total preclusion of an employee making a living for a year. Consider also that the non-compete/restrictive covenant might be unenforceable because it does not contain reasonable limitations. Believe it or not, lots of employers draw up these forms with the knowledge that they...

I recommend hiring a detective to find out where he is. It's good that he's been making the payments (I assume, as promised under the Note), but if you can't reach him, there's a problem if he stops paying. But, you can't sue him if he has not breached the contract. If he has breached, e.g., he has not made the payments as per the terms of the Note, you need to know where he is so that you can sue him. Of course you "can" win, so long as you have a valid cause of action (i.e. breach of...

New York offers several business formation options. The two most common are the corporation and the LLC. There are several key distinctions between these two corporate forms. Both provide what you're looking for: a "corporate shield" which limits personal liability for the owners/operators of the business. Formation of a corporation can be done in 24 hours for a cost of $125. Formation of the LLC takes much longer, due to the publishing requirement. Depending on what area of NY the...

Yes; a life estate entitles the interest holder to that interest for the duration of their life. And, no: for example, if a court orders the sale of the property, the life tenant may be entitled to a portion of the proceeds of the sale. No: (but see above) the only interest held is the life of the tenancy. However, the holder of a life estate can transfer his/her life estate to another (which remains in effect for the original holder's life). This also assumes no improvements to property and...

There is a lot of sound advice here. I'd like to make one more very important point about the timing in your situation. If your mother transferred any ownership rights in that property (i.e., put you on the deed) within the last 5 years, NY state can collect medicaid benefits paid within this time period by placing a lien on the entire property, not just your mother's life estate interest. The effect is that your interest is not protected at all. It really seems worth it to contact a...

I think your question is "Is the contract enforceable if we didn't have a lawyer, but the other party did have a lawyer." The short answer to this question is "yes." You've been given good advice here about having your own attorney, but it is obviously too late. So, going forward: do what you promised to do under the agreement. If you don't, it sounds like there is a liquidated damages clause which forces you to pay $500. If the other party does not perform, you have remedies which should...

First, I wouldn't be so sure that the bank attempting to collect the debt from you may sue you outside of NY. Second, you would need to be served properly with a summons and complaint before any judgment could be entered against you. You say that you've received "court orders" to appear; you may not be aware of the legal meaning of those papers and, hence, your obligations. You need a lawyer to review them to determine exactly what they are. I've seen some misleading and deceptive practices...

You certainly have a mess of a situation here, but you are not without legal recourse. As previously advised, it is important that you seek out the assistance of an attorney as soon as possible. While it is doubtful that you will be able to get the business back, it seems likely that you can get at least some of your money back. So, to answer your question, it appears that you are not out everything. But, it also appears that you will have to fight to get it back.

Your aunt died intestate and so, the NY rules of intestacy apply. Her estate assets pass to her family members under these rules. If you are the next of kin, her assets go to you. However, you first must check with the bank regarding the account you mentioned. Find out if there was a designated beneficiary or trustee on the account. If you are joint owner of the account, you may access it. You get the money by contacting the bank and asking what they require in terms of proof that you are...

First, kudos to the Cali lawyer, who very succinctly explained the law in New York on usary. Your question leaves some unanswered questions, so I'm going to take a stab at what you might be getting at. If by "finance charge" you are referring to interest on a loan, then you have to be aware of usary laws. Interest rates at or above 25% are usurious (covered by the penal law) and therefore, would make your interest rate unenforceable. However, certain finance charges may be payable, but...