Paula Hopping Adoradio's Answers

Should we form a LLC?

I am not admitted in Pennsylvania and so can't give you an answer for your state. It also isn't clear how your homeowner's policy covers or relates to your rental properties. However, it would be a typical asset protection approach to create an LLC for EACH of the rental properties, in order to prevent the other entities from being pulled in should a problem occur for one of them. The cost for setting up 5 single-asset entities is minimal compared to the potential loss of both your rental...

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Can employment contract signed with company "A' be enforced by company "B" , "C" etc., if company "A" is no longer in business?

I am not licensed in Alabama, so I can only comment generally, and not on Alabama law. The answer, generally, though, may depend on exactly how the assets were transferred to B, and the corporate relationship between B and C. Would also depend on whether the employment contract permitted A to transfer the contract to a buyer of the business/assets. Even if the contract transferred to B, it is not clear how C figures in or why the company thinks you are bound by it with C. Do you want the...

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This is a question regarding a contract dispute between a vendor and a contractor.

The excerpted parts of the contract don't indicate whether there was a notice required for a change in billing procedure, so the notice section may not be applicable. However, "billing procedure" seems quite different than "billing rate." Is there any provision for reduction in your rate, or is it identified as a hard number in the agreement? Had you had any (formal or informal) discussions about this? Generally speaking, if this arrangement is typical, you'd have contracted with the...

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Should I quit claim property to LLC of my husband and his friend which I am not involved? Will I have rights to the property

I'm not a MO lawyer, so I can't comment on Missouri's laws. However, if you properly transfer a property to an LLC of which you are not a member, the LLC owns it. As far as what happens to the property in the event of death, that will depend on what the LLC agreement (often called an operating agreement) or what is called a buy-sell agreement says about ownership of the LLC or any of its assets in that event. Some LLCs dissolve on the death of a member; some have provisions about what...