Either way is legal and effective. Using the promissory note might reduce questions about valuation of the tools, but the net effect is the same. ...

The "resolution of the claims" means the creditors split up the remaining assets pro rata, as in a bankruptcy. That's all they get. Shareholders...

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P.S. I didn’t answer the rest of your question. No, generally there is no way to get off a guaranty. If you do start another business, you...

I am skeptical of the view that you can force your 50/50 member out of your LLC. You can't vote him out. When you get to trial it will be "he said...

Husband and partner start deli business.they take out business loan in both names. after 2 years my husband wants out. Attorney

Ask the lawyer who did the Agmt buying out your husband how this could happen. Ask if he can help. (I wouldn’t trust him to do it.) If he...

I am a new business owner hiring for a sales position. I have a gentleman in mind for the position.

You may not ask questions about areas that would involve prohibited discrimination in hiring, such as age, creed etc. Other questions should be...

My business partner closed our shop without my consent and reopened it under her name only and she refuses to do the taxes.

As a partner she has a fiduciary duty (the highest) to you to treat you fairly, which she obviously did not. You should immediately consult a...

Did you dissolve your corporation properly with notice to all creditors, etc, including the landlord? If so, you have no more liability for the...

We are going to rent out my wife's house. Should we create a S-Corp or a LLC to limit our liability to the renters. If so what

Ordinarily owners of a single income property do not use an LLC. It limits your liability to the value of the house, net of encumbrances, but...

LLC and lease agreement with a joint and severly section.

Yes, each one of you is liable. Any one of you can be sued for the entire amount if the LLC defaults. That person can then sue the other two for...