Incorporating a business or forming a limited liability company (LLC) are both very smart decisions for business owners. While each one has its own individual benefits, both allow a business owner to protect his or her personal assets in case someone sues their business. However, sometimes individuals or businesses will form a corporation or LLC…
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An oral agreement is usually binding but not always. Florida has a statute of frauds so certain types of contracts are not binding unless they’re in writing and signed by the party against whom it’s charged. For example, selling a house or a piece of real property requires a written agreement. It has to be…
Continue reading ›There are several alternatives to going to court. The most common sense way is to either directly try to resolve it with the other party, or have the party’s attorneys discuss it with each other. Other means of resolution are mediation, that’s a very common method, and also, arbitration. Both are alternatives that have some…
Continue reading ›Business disputes are handled as any other kind of lawsuit. It’s either going to be handled through negotiation, through a court process and litigation or through arbitration. Typically, business disputes should always have efforts to try to settle the cases and reach some kind of common ground. Sometimes a lawsuit will need to be filed…
Continue reading ›The typical measure of damages in a Breach of Contract lawsuit are what are called Expectation Damages. It’s what the party that signed the contract expected to recover based on the promises of the other party. For example, a builder of a house contracts with the owner of the house. The builder builds the house…
Continue reading ›Florida has a state statute that protects whistle blowers for private employers, it has another state statute that protects employees of public employers. The laws prohibit typically a person who has objected to or refused to participate in an unlawful activity of the employer and the laws protect the employee from a reprisal by the…
Continue reading ›Piercing the corporate veil is a way to go behind the corporate form. Typically, people will incorporate the corporation to limit their liability, their risk to the investment in the corporation. It’s very difficult to go behind that corporate veil, which is the corporate entity, to protect your investment in the corporation, but there are…
Continue reading ›Vicarious liability is when one party is held liable for the acts of another. For example, an agent of another person goes and commits an act, for example, an accident. The person who is the principal who hired that agent can be sometimes responsible for the agent’s act. That’s called vicarious liability.
Continue reading ›The legal name of a business is the corporate name typically. If you have a corporation such as IBM Inc., that’s its legal name. It may do business in other name, which are called fictitious names, but the legal name is typically the corporate name, or if it’s a partnership, the partnership name.
Continue reading ›Detriment to reliance is when somebody has made a statement that would have a reasonable expectation that the person who obtained the information or received the statement relied on it and they relied on it in a manner where they took measures and incurred expense or they incurred some hardship on reliance on this other…
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