Loan documents – those bastions of arcane and archaic legal language which memorialize and govern the lender-borrower relationship – play an outsize role in any commercial loan transaction. And customarily they are overtly lender-friendly, regularly tipping the balance in lenders’ favor and placing even sophisticated borrowers at significant operational disadvantages. (more…)
Blog Category: Articles
Many persons, both individuals and businesses, approach potential litigation with an expectation that, if they are successful, they can recover the attorneys’ fees that they incur in the litigation from the other party. Given the expense that a party may incur in attorneys’ fees in a lawsuit and how much this amount may affect the net amount a party may actually recover (as a plaintiff) or be forced to pay (as a defendant), the accuracy of that assumption and what can be done to ensure that attorneys’ fees can be recoverable may have a large impact on the decision of whether to litigate at all or at what amount to settle a lawsuit. (more…)
Effective October 9, 2018, New York State’s new rules regarding sexual harassment training and prevention in the workplace will take effect. Every organization in New York—regardless of company size—will be required to facilitate yearly sexual harassment training and to create a clear sexual harassment prevention policy. All types of workers, including interns, part-time employees, and management, will be required to participate. (more…)
When a loved one dies, it is common to start asking questions about their estate. While it is recommended that every individual have a Last Will & Testament, in many cases, simply having a Will does not mean that probate is necessary. (more…)
As any aspiring new business owner, you may be in the midst of writing a business plan and envisioning your future successes. At the early stages of business formation, oftentimes, clients are flooded with a wealth of information and overwhelmed with decision-making. Too often, clients rush right into entity formation without fully understanding the reasoning behind their first big decision.
In New York State, there are six basic entity structures that exist: sole proprietorship, limited liability company, general partnership, limited partnership, corporation and not-for-profit corporation. A basic understanding of these business structures can help you to find the right type of business entity for your new venture.
In New York, a contract is formed when there is an offer, acceptance of an offer, and consideration exchanged between the parties. Usually verbal agreements are translated to a written document that outlines the exact expectations of each person entering into the agreement. The intention of a contract is that people can negotiate, discuss, and set forth exact rules to govern future disputes. (more…)
Most landlords don’t allow tenants to have pets, of any kind, in rental units. However, a “no pet policy” may have to be suspended if a current or prospective tenant has disabilities.
The federal Fair Housing Act (the “FHA”) prevents discrimination in housing related matters because of race, color, religion, national origin, sex, familial status, or disability. The FHA applies to a variety of housing transactions such as rentals, sales, mortgages, and homeowner’s associations. The FHA’s goal is to ensure that all persons receive equal housing opportunity. (more…)
Landlord-tenant relationships are governed by a patchwork of state and federal laws, including statutes specifying items that must be included in residential lease agreements, along with items that are void if included.1 Due to the makeshift structure of laws governing residential leases, it can be difficult to know whether a lease complies with all applicable laws. Landlords, are your leases up to snuff? Below is an overview of items that must be included in a residential lease, or that would be trumped by statute if the terms of the lease are conflicting.2
Medical professionals entering the workforce today face a rapidly evolving, and continuously changing, healthcare landscape. Because of this, healthcare professionals, and especially physicians, must grapple with a unique set of challenges – fewer independent medical practices, rising compliance and administrative burdens, and reduced independence, among many others. Increased, and still increasing, consolidation has afforded hospitals and health systems greater bargaining power in the employment marketplace. Physicians preparing to enter into employment arrangements face one of the most important decisions of their professional lives – and a challenging set of legal, financial, and ethical considerations. (more…)