Blog
- Can You Enforce an Oral Business Contract?
Jul 11, 2022
Are There Agreements that May Only Be Enforced in New Jersey if in Writing? If you are like most small business owners, much of your day is spent on the phone or in meetings. In those conversations, you’ll often come to agreement on terms of a proposed contract. Suppose your discussions meet all the requirements of a valid and enforceable contract: There’s an offer and acceptance Both parties have agreed to give something of value...Read More - Avoiding Preferential Treatments in Bankruptcy
Jul 5, 2022
The Consequences of Selectively Paying Creditors Immediately before Filing When you’re initially facing financial challenges, it’s common to turn to friends and family for assistance. When it becomes clear that your problems cannot be resolved through any means other than a personal bankruptcy filing, you may be inclined to give priority to those friends and family who tried to help you out, paying them back before you file, so that they don’t have to settle...Read More - What Is a Chapter 7 Bankruptcy?
Jun 8, 2022
What Are the Limitations? What Will Chapter 7 Do for You? You have bills you can’t pay. You may not be working as a result of the pandemic. You may have suffered an unexpected illness or injury. That’s what the bankruptcy laws are there for—to help you get a fresh start when circumstance cause unmanageable financial challenges. When you start investigating bankruptcy as an option, you’ll quickly discover that there are two distinct approaches—a liquidation...Read More - Indications That You May Need a Fresh Start in Bankruptcy
Jun 1, 2022
Signs to Look for to Determine If You Need Bankruptcy Protection If you’re struggling to meet your financial obligations, there may or may not be any comfort in knowing that you’re not alone. Every year, more than 1.5 million Americans use the bankruptcy laws to try to resolve financial challenges. Sometimes, it’s clear that you need to seek protection, but there are other instances where you may be able to turn things around without the...Read More - Unfair Competition in Business
May 4, 2022
Prohibited Activities under State and Federal Laws While the American free enterprise system promotes competition for the benefit of consumers, there is still are requirement that the forms of competition engaged in follow some basic rules. When another company or individual engages in actions that wrongfully affect your business or your market share, those acts may constitute “unfair competition.” That may involve a broad range of violations: Interference with or infringement of your intellectual property...Read More - Why You Don’t Want to Run Your Business as a Sole Proprietorship
May 1, 2022
The Benefits of a Corporation or Limited Liability Company (LLC) In the state of New Jersey, you can open for business as a sole proprietorship without filing any documents with the state government. You may want to choose a separate name under which to conduct business. If you do, you’ll need to register your assumed name with the local county clerk’s office. You may also need to secure certain licenses, based on the goods or...Read More - Tortious Interference with a Business Contract
Apr 7, 2022
Your Rights When a Competitor Wrongfully Interferes with Your Business Agreement Suppose that you work really hard to get a contract with a new customer. That customer has other agreements for different products with another vendor. That other vendor threatens to stop providing any goods to your new customer unless the agreement with you is terminated. What can you do? Tortious Interference with a Business Contract You may have a claim against the other vendor...Read More - Common Mistakes Made by Small Businesses
Apr 1, 2022
Simple Strategies that Can Improve Your Chances of Success Successfully building a small business from scratch can be a daunting prospect. According to federal government statistics, about one in five new small businesses fail within 12 months and about half don’t make it five years. There are, unfortunately, some factors that contribute to this that cannot be controlled—markets change, products become obsolete or economic circumstances make viability difficult. But there are certain mistakes that often...Read More - How Does the Uniform Commercial Code Apply to the Law of Contracts?
Mar 16, 2022
When Does the UCC Apply? | What Types of Issues Does the UCC Regulate? As long as humans have engaged in commerce, contracts have existed, in some form or other. For centuries, the rules governing contracts were handed down by judges, compiled in written opinions known collectively as the “common law.” Those laws often varied significantly from state-to-state, making interstate commerce somewhat challenging. In the late 19th century, legal professionals came together and drafted certain...Read More - The Uniform Commercial Code—Bringing Stability to Business Transactions
Mar 10, 2022
What Is the Uniform Commercial Code | When Does It Apply? Throughout history, as human beings have conducted business, disputes have arisen and legal rights have had to be enforced. For centuries, most of those laws were found in judicial decisions, what it referred to as the “common law.” However, in the 1890s, a movement arose to draft “uniform” laws, which attempted to incorporate much of prior common law into statutes (written laws enacted by...Read More