Did you ever wonder how a person, or a business, could come to own a piece of land he never bought? Did you even know that it is possible? It can be done in New York, and, as shown by certain high profile cases, in other states as well, through…
Is there really such a thing as a simple sales contract? In New York, at least, the answer is no. As we previously discussed, a contract does not have to be written in order to be enforced. There can be an implied in fact contract; though it often is easier…
In our last entry we discussed how piercing the corporate veil can result in the owner of a New York corporation being personally responsible for the corporation’s debts and obligations. We also set out the test for piercing the corporate veil: A Plaintiff must show that the owner of the…
“Piercing the Corporate Veil” is a term that may sound strange, archaic, or even intimidating; but when you dig through the lawyer-speak, it is really a simple concept. Piercing the corporate veil basically means that the owner of a corporation will be personally liable for the debts or obligations of…
A contract does not always have to be in writing to be enforceable in New York. Most people, including business owners, might think it has to be in writing, but it does not. It must be an agreement, between at least two parties, where each has committed to give up…
Every New York business deals with contracts: sales contracts; purchase agreements; leases, for equipment or for real property such as a store, warehouse, or office; even insurance policies which protect the business, its employees, and its property from loss and damage. Contracts are the means by which a business conducts…
Many businesses share a common problem in negotiating and drafting contracts. Rather than resolving all key issues before they enter into a contract, rather than making clear what each party to the contract is obliged to do, and what each is entitled to receive, they allow serious ambiguities to remain…
We have been discussing how much a New York business can recover from someone who damages its property. If the property is damaged, but not destroyed, the business normally can recover either the loss in market value caused by the damage, or the cost of repairs, whichever is less. See…
A business has to know how to recover for damage to its property. Most times it will need to use the money to repair or replace the damaged property or, in the most severe cases, to re-start the business. In our last entry, we spoke about how a business can…
Everyone knows that if someone damages their property, they should be able to make that person pay for the damage. The Owner of the damaged property should be able to recover as long as it can prove the other person was liable for the damage. Many people, however, including business…