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Paul K. Silverberg

Paul Silverberg’s Answers

32 total

  • What are my liabilities of owning 10% of a company?

    The company I currently work for offered me and 2 others 10% each of the company. The owners are older and want to spend the rest of their time traveling. There will be legal involvement with paperwork and all. I was really just wondering what I s...

    Paul’s Answer

    Generally, the purpose of the company (LLC or Inc) is to prevent individual (personal) liability. So, if they properly use the money and pay their taxes, your should have no liability.

    You may consider asking all owners to prepare and execute a shareholders agreements that provides you certain rights and protections. This is important considering the partners are holder. What happens when they die?! Does their family become the owners or can you and the other employee buy them out?! This is something can be agreed to now and placed in a shareholder agreement. Note if the company is an LLC, its called an operating agreement.

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  • Does a Florida lemon law victory satisfy your loan?

    Hi, I am in the process of the Florida Lemon process with my new vehicle. If concluded I am right and successful with my claim, does any of the options of the lemon law payoff my loan?

    Paul’s Answer

    Lemon law provides a limited relief. This relief is a check for the car value MINUS the miles on the car. You could end up "selling" the car back and after the deduction for miles owe the loan company money. If the car is financed through the same manufacturer of the car (i.e. its a GMC car and financed throught GMAC Finance), I would call the finance company about payoff and options if it is a lemon.

    You could be better off selling or trading the car into someone else- get more money than a lemon law result.

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  • Paying for item never recived? What can i do?

    I have wired 20$ to someone who was selling an item on craigslist. The seller is in a town a little ways from me but she asked me to do western union because she doesnt have pay pal any more..it was only 20$ I'm just looking for a resolution..afte...

    Paul’s Answer

    Check with your bank to see if they can reverse the wire in light of the fraud. Act quickly.

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  • Selling property that was previously purchased through first mortgage foreclosure, what title evidence/insurance is required?

    I purchased a home through first mortgage foreclosure and was issued a CET. After the CET was issued, title search came clean. What evidence is sufficient for section 9c, TITLE EVIDENCE AND INSURANCE? The wording is this: "Seller shall f...

    Paul’s Answer

    I would provide the Court issued deed as you never probably got title insurance. You can pull from the Broward County Appraiser's Office proof its listed in your name (tax search portion).

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  • I need an opinion about a business asset protection strategy, and the likelihood of it holding up in court if sued.(see details)

    I own a web based health food manufacturing/retail/wholesale company with an LLC structure. I am thinking of splitting it into 3 LLCs, one holding company which would own the intangible assets (domain names, trademarks, brand names) and some ...

    Paul’s Answer

    There is certainly benefits from splitting up operating entities and the ones owning the assets. What is key is proper agreements (license agreements), operating procedures and how you handle the interaction. Generally, this practice is understood and each entity should be afforded its proper legal status.

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  • My corporation is a Delaware corporation operating in Florida (fort Lauderdale).

    we have a partner (1 out of 4) who might have stole funds and is looking to get out of the corporation. we have an attorney who is representing the 3 partners in the suite but our attorney said that we need an attorney to represent the corporatio...

    Paul’s Answer

    The need for a separate counsel is simple- the company is owned and for the benefit of all 4 of you. The attorney representing the 3 partners and against the other partner cannot make decisions for the company. The key question is who should be suing that one partner? The stolen money may belong to the company and not the three of you. Therefore the company should be pursuing the claims and the three of you can keep your legal bill reduced and let the company attorney pursue and the company expense (in that case you are only 3/4 of the bill).

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  • Is it legal for the web developer to post "website suspended for non payment" on my website? (part 2/3)

    I have raised my concern about not seeing any results and have been immediately assured everything is being worked on and few weeks later I saw my website was being worked on. When we finally got to the phase of evaluating the design, suggesting s...

    Paul’s Answer

    You need to start by looking at your contract, if any. The terms and conditions may prevent or give him this rights. You also want to make sure you own the domain and can have it hosted by someone else and change the posting. I would make written demand for him to remove it and warn him about the liability for harming your business for make such statements.

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  • Must I refund $$$ to U.S. Army that THEY sent to ME 2 yrs ago as rent deposit & now want it back? I used it to pay my mortgage!

    The U.S. Army sent me $2138 (half by check, half by direct deposit) as Deposit for Rent on my house. I had to take it off the market & held for an army recruiter that wanted to rent, as I filled out endless forms for them and had inspections that ...

    Paul’s Answer

    Florida law contains something called the Statute of Frauds, which requires certain items (including leases) to be in writing and signed. Yes, generally oral contracts are enforceable, except Statute of Fraud items. However, partial performance is an exception from the Statute of Frauds. I would tell them that you relied on their commitment and suffered harm, which exceeds the $2138.

    Re-list and try to get a new renter.

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  • My answer to a case is due on Saturday, does this mean I have until Monday to answer or Friday before Saturday?

    I have to submit an answer soon, but my days are up on Saturday, and I know the court is not open on that day so can I submit the answer on the following Monday or will it be considered late by then?

    Paul’s Answer

    You have until Monday (the next business day).

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  • What legal Action Can I take. Can I sue?

    I took out a pay day loan for $800, and the company deposited 4 times the amount. I called immediately and reported it, they promised to pull back the excess funds within 48 hours, this was on 10/15, on Nov 2nd, they reported to my bank I had frau...

    Paul’s Answer

    I would recommend writing the company that they improperly called in a fraudulent transaction. Obtain documentation from your bank about who and what was called in. If the payloan company does not remove the fraudulent part immediately- you should sue.

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