How to take down an LLC in 50/50 partnership when it is on administrative dissolution?

Mr. Corrigan coverd it pretty well. Since you said elsewhere that you used a standard form Operating Agmt, you are probably stuck. Most people...

Does a non-compete clause still apply if a contract is breached?

The black-letter law law is that a substantial breach of a contract by one party excuses performance of the obligations of the other party. His...

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There is a company called Cali Daze, I have a company, which i just registered a business liscense as CaliDazed, is that illegal

Two sources of trademark rights: Commonlaw right: This arises just from use of the mark and is effective only in the market in which it is used. ...

When buying an operating company you can never be sure what liabilities it may be subject to. The best you can do is get representations and...

Is it possible for a corporation to appoint a CEO but that CEO has no actual decision making authority, just a figure head?

This might work until it doesn’t. If the business gets into any legal trouble, the fact that it skirted the regulations by appointing a powerless...

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I have a company that is being built with other people we are talking partership splits the company exists previously just ein.

If you have a “signed legal document” and have not yet activated the business, you have serious problems. My first instinct is that this is the...

Transferring LLC interests to a new member

First, you must realize that taking a new member into your LLC is like getting married: it is a mutual commitment. Getting rid of a member of an...

The legalities of what feels like an excessive prepayment penalty lasting 10 years

Lawyers can’t advise on a Q that is so vague. What are the terms of the basic loan? What is the formula for the prepayment penalty? I think that...

Is it possible to vary the terms of house purchase contract before signing it?

The way this is done is to make a counter offer. This rejects the offer as made but makes a new offer, renewing the old offer but with the revised...

What can I do if business partner who has 51% and managing authority in LLC is withholding distribution/member's capital?

Partners and members of LLCs have a fiduciary responsibility to treat fellow members with the highest standards of truth and honesty and to...