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When should I dissolve my LLC and how do you properly do so? Dissolving your business is governed by your operating agreement or Louisiana law. Either way, there are specific rules for dissolving your business. If not dissolved properly, you or your fellow members could be liable. In Louisiana, claims for breach of contract are open… Continue reading When Should I Dissolve My LLC and How to Properly Do So?
Is it essential that your business have a written operating agreement? You’ve just started your company, likely a limited liability company (LLC) and you’ve decided to forego committing to a written operating agreement because you and your partners are harmonious and the business outlook is great. This is more often than not the reason business… Continue reading Importance of a Written Operating Agreement as a Business Owner
Sucré, well-known for its designer desserts and clean, upscale appearance defied the odds when it opened in 2007 and quickly becoming the go-to confectionery for desserts. It was an immediate success and eventually developed multiple locations and a wholesale operation which sold its desserts during holiday seasons and through other retail stores. Sucré even challenged… Continue reading Abrupt Closing: Sucré Closes All Stores
There are a variety of business organizations to consider for your business, including sole proprietorships, partnerships, limited liability companies (LLC), and corporations. With all of these options, it can be difficult for people to determine if an LLC is the right choice for their situation. What is an LLC? According to the Small Business Administration,… Continue reading Benefits of Operating Your Business as a Limited Liability Company
Introduction In Louisiana, Homeowners’ Association is defined as a nonprofit corporation, unincorporated association, or other legal entity, which is created pursuant to a declaration, whose members consist primarily of lot owners, and which is created to manage or regulate, or both, the residential planned community. However, the statutes that follow these definitions do not apply… Continue reading HOA/COA: Stop Waiting to Enforce the HOA Covenants
Introduction Like an ordinary business, HOA’s depend on monthly dues and special assessments to operate. In order to operate in harmony, each owner shall pay its fair share. However, often times owners either fail to pay because they can’t or they have an issue with the association, whether right or wrong. When 1 or 2… Continue reading HOA/COA: Steps to Collect from Non-Paying Unit Owners
Introduction All too often, homeowners who are a part of associations find themselves among non-compliant neighbors. In order to limit these potential non-compliant or nuisance neighbors, some associations implement screening or background checks on potential buyers or tenants Can my HOA Screen a Potential Buyer or Tenant? Many issues which may arise for condominium and… Continue reading HOA/COA: Can Associations Screen Potential Buyers/Tenants?
Introduction When an employee leaves your business, you have enough to worry about: replacing the employee, training up a new employee, and maintaining all the relationships that the old employee had with your customers. But what about when the employee that left is a vital part of your business? What if the employee knew intimate… Continue reading Former Employee Unfairly Competing with Confidential Information?
A lawsuit for breach of contract is one of the most common causes of action in business. Sometimes, two parties enter into a contractual agreement, and one of them simply fails to deliver. However, it is much more common for one or both of the parties to violate terms of a contractual agreement with the… Continue reading Suing for Breach of Contract Due to Nonperformance
Introduction In performance contracts, such as the construction of a building or delivery of goods, timing is essential. For example, you have hired a contractor to build-out your office space, and the contractor has agreed that it will take 12 months to complete the project. If it is not completed by the end of that… Continue reading What Are Liquidated Damages, and Are They Enforceable?
No matter what business or industry you’re in, accounts often dry up and you are faced with the decision of whether or not to send delinquent payments to a collection agency. Collection agencies can be intimidating and tough to deal with, both for the individual seeking to use their services, as well as the delinquent… Continue reading Contingency Collection: What is it and should you use it?
It’s the one document no one wants to receive: a notification that you’ve been sued. Although it may be the most worrying, tense and generally shocking feeling one can have, it is important to know what first steps to take and the best way to go about them. Foremost, you’ll want to notify your lawyer.… Continue reading The Importance of Notifying Insurance When You’ve Been Sued
By FavretLawFirm
Jun 18, 2019