A common provision that is contained in many New York business contracts, a force majeure clause absolves the parties of their contractual obligations when it applies. This clause ends a contract when events beyond the parties' control occur and materially affect...
Commercial disparagement is a business tort, also known as trade libel, slander of goods or product disparagement. It happens when someone makes false statements about a business or the product it produces, which damages the company’s reputation. It can also cause...
Housing is a pressing concern for New York residents, especially in the city. The need for housing in a limited real estate market has led to several models. Cooperative housing, commonly referred to as a co-op, is a communal living arrangement found in many New York...
Corporation bylaws are also known as company bylaws. This document signifies the first official establishment by a company's board of directors. The bylaws are usually created after the submission of Articles of Incorporation. As a result, many individuals confuse the...
When you bought your condo or apartment in New York, the board members gave you a document that stipulated the responsibilities and rights of each party. This document, commonly known as the bylaws, binds both parties to certain obligations. For example, the board...
Due diligence is a process of investigation and analysis of a deal or investment to assess its value and risks. It is an essential step in mergers and acquisitions (M&A) as it helps buyers and investors to make informed decisions and avoid costly mistakes. Here...
Missing two mortgage payments in New York will often trigger a foreclosure, which is a legal process where the lender takes possession of a borrower's property to repay their debt. Foreclosures can be devastating for homeowners and have long-lasting impacts on their...
The rent laws in New York have changed many times over the years, which has left many tenants unsure of where they would stand if they became embroiled in a legal dispute with their landlords. Some tenants believe that their landlords could cut off their utilities or...
Shareholders of corporations are essentially owners of the company. While the officers, directors and board members are responsible for the company's day-to-day operations, the shareholders are the real decision-makers. If shareholders believe one or more of the...
New York business partners may often have minor disagreements which they quickly resolve. However, sometimes issues that aren't easily solved may arise, and the partners are left with some difficult decisions to make. They can try to work out their differences and...