White Cirrito & Nally LLPFindLaw IM Template2024-03-21T08:21:47Zhttps://www.whitecirritoandnally.com/feed/atom/WordPress/wp-content/uploads/sites/1501989/2020/10/cropped-fav-icon-32x32.pngOn Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471852024-02-01T06:25:13Z2024-02-06T06:25:00ZElectronic discovery
One significant aspect of technology's impact is in the realm of electronic discovery. Digital documents, emails and other electronic data are important pieces of evidence. With the advent of technology, sifting through this paperwork is more efficient, saving time and allowing a thorough examination of information.
Data analytics in litigation strategy
Technology has given rise to the use of data analytics in shaping commercial litigation strategy, including in real estate transactions. Businesses use technological tools to analyze large sets of data for patterns and trends. This analysis helps parties make informed decisions during legal proceedings.
Virtual courtrooms
With the ability to conduct hearings and trials online in virtual courtrooms, the legal process is more accessible and efficient. This shift is especially significant in commercial litigation, where the parties may have different locations, even different countries. Virtual courtrooms eliminate geographical barriers and streamline legal proceedings.
Blockchain and smart contracts
The emergence of blockchain technology has changed the way parties execute and enforce contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. This innovation reduces the likelihood of disputes due to ambiguous contract terms. The code executes the terms automatically.
Artificial intelligence in legal research
Instead of spending hours manually researching case law and precedents, the parties can rely on AI tools to streamline the process. This saves time and enhances the accuracy of legal research, ensuring that arguments are well-founded on relevant and up-to-date information.
As businesses continue to embrace these technological advancements, the dynamics of commercial disputes will evolve, making the legal process more efficient and accessible for all parties involved.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471352023-12-03T01:34:13Z2023-11-28T18:31:13ZOn Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471202023-11-03T07:06:23Z2023-11-08T08:05:56ZDocument everything
Keep thorough documentation of all communication and actions related to the dispute. This includes emails, meeting minutes and any other relevant information. Having a clear record can be valuable if you need to prove your case in the future.
Review the operating agreement
Carefully review the LLC's operating agreement. The operating agreement outlines the rules and regulations governing the company, including the rights and responsibilities of each member. Pay close attention to any provisions related to dispute resolution, decision-making and the transfer of ownership interests.
Communicate with the other shareholder
Open lines of communication help resolve conflicts within an LLC. Try to have an honest and respectful conversation with the shareholder freezing you out. Share your concerns and discuss possible solutions. It is often best to resolve issues amicably.
Request mediation or arbitration
If communication does not yield positive results, consider suggesting mediation or arbitration. This dispute-resolution method can be a cost-effective and less confrontational way to address your concerns and come to a mutual agreement.
Take legal action as a last resort
In New York, 64,870 and 68,420 businesses opened and closed, respectively, between 2020 to March 2021 according to the Small Business Administration, and small businesses were the majority with 62,936 closings. To prevent your business from closing, explore legal options as a last resort. Instead, consider seeking a court order to protect your interests or pursuing a "buy-sell agreement."
Take time to do your due diligence and start with non-confrontational solutions to protect your relationship and company.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471192023-08-09T04:44:27Z2023-08-15T04:43:53ZRefer to your operating agreement
Upon forming an LLC, particularly one that will be under joint ownership, it is crucial to draft a comprehensive operating agreement. This document can serve to prevent disputes or dissolution by outlining the rights and responsibilities of each partner. Each partner that signs the operating agreement legally binds themselves to its terms, ensuring that many disputes regarding abuse of authority will meet a quick end.
Undergo mediation or arbitration
There are some disputes that an operating agreement cannot bring to a swift resolution by its own terms. In such an instance, it may be necessary to undergo mediation or arbitration as a way to guide your company to the best possible outcome by way of unbiased intervention. Even in this scenario, an operating agreement can facilitate the process by including mutually agreeable mediation procedures.
A serious LLC dispute can sometimes seem like a death sentence for a company. With a solid operating agreement or a sound strategy for mediation or arbitration, it can be possible to reach an amicable solution even in a worst-case scenario.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471182023-05-09T12:40:11Z2023-05-12T12:33:34ZLLC.
Identify the type of freeze out
The other members of your organization have several freeze-out options. First, they can change the locks and keep you out of the building. They can also eliminate or manipulate your voting rights, making them useless. They could also set up a new LLC or merge their existing LLC assets into a new company and eliminate your equity position.
Review your operating agreement
When you started your LLC, you should have written a detailed operating agreement. This agreement discusses the rights and responsibilities of every member of the company. It should also discuss your equity positions and how voting works within your organization. Therefore, your next step should include reviewing your operating agreement.
Evaluate your goals and desires
Next, you should review your goals and consider whether you want to continue with the company. If your shareholders or members have turned on you, you may just want them to buy you out. You may also want to keep the company or start something new. This is a personal decision and will determine whether you pursue a lawsuit or negotiate your exit.
For the best results, you need to understand your position and what you want. This information will guide you on the type of help you need and the strategy you should follow to achieve your desired goal.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471162023-03-17T05:47:53Z2023-02-02T06:35:12Z1. Slip and fall accidents
The second-leading cause of unintentional injury-related death is falls, according to the National Safety Council. Landlords and property managers have a legal duty to keep their property in a reasonably safe condition for tenants and visitors. This includes regularly inspecting and maintaining the property to rectify hazards such as wet floors or uneven pavement. An injured tenant or visitor from a slip and fall accident on the property when the property manager was aware of the hazard or should have been aware of it may liable for the injuries suffered.
2. Inadequate security
Landlords and property managers also have a responsibility to provide reasonable security measures to protect tenants and visitors. This can include things like security cameras, security guards and adequate lighting. A landlord or property manager may be liable for crimes that take place on the property, such as robbery or assault.
3. Hazardous conditions
Commercial property owners and managers may also be liable for injuries or accidents that occur as a result of hazardous conditions on the property, such as toxic mold or asbestos. If a tenant or visitor encounters hazardous materials on the property and the landlord or property manager knew about the hazard and did not take steps to address it, they may liable for the resulting injuries.
Proper attention to detail and regular safety inspections can prevent untoward liability.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471142023-03-17T05:47:58Z2022-11-08T06:48:42ZWhy you should request an exclusivity clause
An exclusivity clause in a commercial lease agreement states that your landlord cannot rent property out to another business that might be a competitor to you. This prevents, for example, the emergence of a rival next door who will inevitably cut into your profits. If this were to happen, it would undermine your investments and financial projections, potentially putting you out of business if you become unable to meet any outstanding payment obligations.
How to resolve a dispute regarding exclusivity clauses
If your landlord leases a nearby property to one of your competitors, you might understandably raise a dispute out of frustration if your business begins to suffer. If your lease lacks an exclusivity clause, however, there might be little you can do unless your landlord is in violation of any other terms of the agreement. If you decide that you cannot continue to conduct business at the location, you can end your tenancy by giving one month's notice in accordance with the New York Tenants' Rights Guide.
Exclusivity is an important consideration when renting a commercial property in an area abundant with other businesses. Without an exclusivity clause, you might experience a heated dispute and loss of business.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471122023-03-17T05:48:02Z2022-08-24T03:37:32Z1. Setback issues
Zoning regulations establish minimum requirements for setback distance, the distance between your building and the property line.
These regulations serve two major purposes: they improve the appearance of the neighborhood by preventing buildings from blocking views, and they reduce safety hazards by keeping building entrances away from the roadway. Building too close to the road will likely result in complaints and attract the attention of the zoning board.
2. Building height disputes
Like setback requirements, building height restrictions serve multiple purposes. If the neighborhood is close to an airport, the building height is also a safety concern. Typically, however, the building height is more of an aesthetic concern. Overly tall buildings can alter the visual character of the neighborhood and obstruct views.
3. Variance requests
In some circumstances, you can request an exception to zoning regulations, also known as a variance. For example, you may request a variance to build a commercial building in a residential zone.
Generally, you must be able to prove that not allowing the exception would create an unnecessary hardship for your business and that the exception will not be detrimental to the neighborhood.
When you request a variance, the owners of neighboring properties will receive notice of the request. This gives them the opportunity to contest the variance.
By understanding the common issues in commercial land use, you can avoid a dispute that may disrupt your business operations and harm your reputation.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471092023-03-17T05:48:06Z2022-05-27T12:01:57Zbusiness structure dictates that the company itself is responsible for its debts, creditors are able to pursue business owners for payments in the following situations.
Using your property as collateral
The early days of doing business often mean a company has very little by way of significant financial assets. If you made the agreement to pledge your home or large personal asset as collateral for a business loan, a creditor can pursue the pledged item to sell and meet the outstanding obligations.
Cosigning to guarantee a business debt
In addition to using your assets for collateral, using your signature on a business loan puts you in the position of being personally liable for the business debt. This move also opens up your personal assets to pursual from a creditor to satisfy the terms of the debt.
Committing acts of fraud
You are potentially liable for harm to a creditor that results from acts of fraud. If omissions or fraudulent representations led to the approval of a business loan or if the LLC further enhanced a fraudulent business or cause, you could face legal liability for any activities taking place.
Putting a business structure in place is an important decision. Carefully consider the financial and legal consequences of the choice you make.]]>On Behalf of White, Cirrito, Nally & Lynch LLPhttps://www.whitecirritoandnally.com/?p=471082023-03-17T05:48:10Z2022-02-21T19:40:23ZPayment for costs
When you sign your purchase agreement, the contract should contain terms that address the situation if either party defaults on the deal. As a buyer, you want to make sure you can recover your deposit and any costs and fees you paid towards the purchase if the seller breaches the contract. As a seller, you will want a provision that allows you to cover any expenses for upgrades or other repairs done at the buyer's request if the buyer backs out of the contract. A seller can usually include a provision to retain the purchaser's earnest money deposit in the event of a breach.
Specific performance
If a seller backs out of a contract, the buyer can bring a lawsuit against the seller to request specific performance under the contract. If the buyer were successful, the court would order the seller to fulfill its end of the contract and transfer the property to the buyer under the purchase agreement.
Commercial real estate can be a significant investment, so you want to be sure you can rely on your purchase agreement to protect the transaction.]]>