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Small Business/Contracts Law/Questions
| Subject | Date Asked | Expert |
| Opening a small business | 1/6/2008 | David K. Staub |
| Q: A friend of mine & I want to open a small cafe. We're looking into getting loans and we know what ... A: I would not say that you need a lawyer for a $60,000 loan (at that level the bank will undoubtedly ... | ||
| non compete agreement | 1/3/2008 | David K. Staub |
| Q: I sold a business with a non compete clause. However the attorney who drew up the Agreement ... A: Normally, non-compete agreements must be reasonable in scope - both in terms of the length of time ... | ||
| Transfer of LLC | 11/10/2007 | David K. Staub |
| Q: I opened a small cafe with 3 business partners and registered it as an LLC. It is a small operation ... A: I assume that the LLC is being treated as a partnership for tax purposes. If that is not correct, ... | ||
| starting a nightclub | 11/6/2007 | David K. Staub |
| Q: Is a night club a profit organization? and if so, how do I go about getting the proper documentation ... A: I have never heard of a nightclub that wasn't operated as a "for profit" organization. I suppose it ... | ||
| Small business contract | 10/7/2007 | David K. Staub |
| Q: I have been in the process of buying a small Tanning Salon business in Illinois. The seller and I ... A: Michelle, the question is not whether you had a signed agreement but whether the oral understandings ... | ||
| Verbal agreements in Florida | 9/22/2007 | David K. Staub |
| Q: My partner and I were using a mortgage broker to help us refinance a loan on a rental property we ... A: "The broker asked me if he could arrange for an appraisal to be performed and I said yes." While ... | ||
| Excess Payments Received | 9/10/2007 | David K. Staub |
| Q: I had a contract to receive payment for the sale of certain intangibles, for a period of three ... A: You are definitely legally obligated to return the excess payments. Do you think if you sent an ... | ||
| formal resignation from a corporation | 9/6/2007 | David K. Staub |
| Q: My husband opened a small construction business in NY w/ a partner and per the advice of the ... A: Obviously, it would be better if your husband would have everything documented. I recommend that he ... | ||
| dissolving partnership | 7/10/2007 | David K. Staub |
| Q: I am president of a corporation which was started with one other partner. He has invested about ... A: You do need to sit down with an attorney and explore all your alternatives. At the very least, you ... | ||
| Business law | 7/8/2007 | David K. Staub |
| Q: I have a question regarding a business I would like to start, it involves production and film. I am ... A: There are many things you need to do to cross your "t's" and dot your "i's" in the film production ... | ||
| Default on Business Loan | 7/6/2007 | David K. Staub |
| Q: Last year my husband and I formed a corp. and bought a restaurant in Texas. We had the rest. for ... A: I have several observations: First, get an attorney immediately. Everything I tell you is very ... | ||
| Preemptive Rights of Shareholder | 6/20/2007 | David K. Staub |
| Q: I own 30% of an established prosperous closely held NY corporation (two owners total). The 07/10/07 ... A: You should consult a New York lawyer for legal advice, but here is my general take on your ... | ||
| Entered Business sale contract with false documentation | 5/21/2007 | David K. Staub |
| Q: I am trying to find out if the contract I entered into to buy a small business is legal if it was ... A: If the facts show, as you indicate, that there were fraudulent misrepresentations by the seller, the ... | ||
| purchase contract | 5/17/2007 | David K. Staub |
| Q: I recently purchased a retail business in CA and found out after about a month of operating the ... A: Based on the facts you have described, it seems likely that you have grounds to bring a suit. There ... | ||
| verbal contract | 5/15/2007 | David K. Staub |
| Q: I need to know if Florida is a state that recognizes verbal contracts. And what I would need to ... A: All states recognize SOME verbal contracts and all states require that some types of contracts be in ... | ||
| money down on consignment equipment | 5/14/2007 | David K. Staub |
| Q: 9/21/04 a customer put $300 down toward some equipment that was on consignment through our company. ... A: Do you have any written terms and conditions that spell out the terms of the purchase? I assume you ... | ||
| disagreement in sub s corp | 5/13/2007 | David K. Staub |
| Q: This is rather messy, I am a 45 owner of a sub s corp.I have two partners a 45 partner and a 10 ... A: The answer to your question depends upon your state law. Generally, shareholders in a corporation ... | ||
| Customer Agreement Form | 4/23/2007 | David K. Staub |
| Q: I have a one-and-a-half-year-old SAT tutoring company. One of my biggest issues is getting customers ... A: I would recommend that you get the customer to sign your agreement. You can have a completed ... | ||
| Family Verbal Agreement | 3/25/2007 | David K. Staub |
| Q: My Father started a very small business a year before I was born. It is no secret throughout all ... A: You need to talk to an attorney ASAP. In a nutshell, if the Power of Attorney your sister holds is ... | ||
| Like thieves | 3/6/2007 | David K. Staub |
| Q: I done this work on an elderly womans home, We had a verbal agreement on the price, Which was $1500. ... A: If the work you did is worth $1500 and you can establish what you did, it seems that you have a good ... | ||
| electronic signatures? | 3/4/2007 | David K. Staub |
| Q: I plan to make contracts for buying/selling with companies thru eMail. I don't think I need a ... A: Generally, electronic signatures are valid. Telegrams were first held to create binding contracts ... | ||
| IRS paperwork required to terminate a partnership | 2/4/2007 | David K. Staub |
| Q: Are there any form required to be filed when a partnership terminates? I know the final 1065 and ... A: There is not a specific IRS form relating generally to the termination of a partnership. Obviously, ... | ||
| Small business third party liabillity | 1/28/2007 | David K. Staub |
| Q: I would be grateful if you could clarify for me on the following. I am starting up a bouncy castle ... A: You do NOT avoid the need for liability insurance by getting a waiver. There are many reasons, but ... | ||
| llc | 1/23/2007 | David K. Staub |
| Q: I was going to call the IRS about my mistake. Do you feel I should? Also, you had mentioned it's up ... A: 1. If you are going to keep the EIN because the LLC will have employees or a retirement plan, do ... | ||
| getting out of a contract | 1/22/2007 | David K. Staub |
| Q: I have a question that may or not be in your expertise... I apologize in advance if it isn't... I ... A: Unless there is a section that expressly allows you to get out of the contract (generally labeled ... | ||
| llc | 1/20/2007 | David K. Staub |
| Q: I really need your help. I believe a screwed up big time. I bought a real estate franchise in ... A: You don't have a serious problem. Whatever information you put on paperwork for another purpose, if ... | ||
| Dissolving LLC partnership | 1/16/2007 | David K. Staub |
| Q: My business partner and I set up an LLC for an Ebay business January 2006. We have now gone ... A: You have two basic choices: (1) Transfer your interest in the LLC to the other member. If you have ... | ||
| Running Fitness Program for New Gym | 1/14/2007 | David K. Staub |
| Q: I have a personal training business in New Jersey. I work from a small gym as well as client's ... A: I will try to answer your questions, but I also have my own questions that may affect my answers. Do ... | ||
| Minor Modeling Release for photoshoot | 1/6/2007 | David K. Staub |
| Q: Info: I have a signed model release with a minor model signature and her parents signature. State of ... A: First, let me point out that I am not a Florida attorney, the following discussion is based on a ... | ||
| Company Dissolving | 12/15/2006 | David K. Staub |
| Q: We are a C-Corp. What is our liability to the creditors? Are we liabile to pay them even though we ... A: Strictly as shareholders, you have NO liability to pay creditors. However, as I discussed in the ... | ||
| Verbal agreement for loan | 12/15/2006 | David K. Staub |
| Q: Is a verbal agreement for a loan was made between my husband and a friend. The amount, term and ... A: Melissa, The mere fact that the details of the loan were not committed to writing should not ... | ||
| Vehicle contract Britch | 12/13/2006 | David K. Staub |
| Q: I bought a car from a friend where I bought it for $1000 down and $500 monthly payments. from 10/05 ... A: Because of your friend's breach, you are entitled to damages. The amount of damages is the amount ... | ||
| verbal agreement | 12/5/2006 | David K. Staub |
| Q: My ex-girlfriend and I recently broke up. She wanted a dog that my neighbor had puppies of. So I ... A: The oral agreement to split the cost should be enforceable. Proving that the dog was hers and ... | ||
| Buying an asset (website) from a corporation that recently disolved | 12/5/2006 | David K. Staub |
| Q: I am interested in purchasing a website from a corporation but I have a few questions. The first is ... A: 1. The California Corporations Code states that a corporation that is dissolved may convey its ... | ||
| Verbal Agreement | 12/3/2006 | David K. Staub |
| Q: I entered a verbal agreement with an Excavator "A" to do the excavation and concrete work for an ... A: Generally, a contract is enforceable even if it is not in writing. There are exceptions, known as ... | ||
| Ending a Partnership | 12/2/2006 | David K. Staub |
| Q: I own an LLC in the State of California. It is a 50/50 partnership between me and another ... A: 1. You can execute a release on behalf of the LLC or yourself which releases any claims that the LLC ... | ||
| LEASE AGREEMENT APLICATION | 11/30/2006 | David K. Staub |
| Q: mY WIFE SIGNED A LEASE AGREEMENT THAT WAS WRITEN IN ENGLISH WITHOUT UNDERSTANDING THE TERMS OF THE ... A: The person who provided the lease in English clearly was not breaking the law. Generally, if ... | ||
| Questions | 11/29/2006 | David K. Staub |
| Q: I am trying to get ideas and suggestions for my business. I have a small Janitoral company. I have ... A: I can't tell you much about marketing, since my area is business law. I can tell you that you ... | ||
| incorporation | 11/28/2006 | David K. Staub |
| Q: Mr Staub, I have a small business in Mississippi and was wondering, would it be beneficial to me to ... A: The principal benefit of incorporating (or organizing a limited liability company) is to shield your ... | ||
| Hand money back | 11/28/2006 | David K. Staub |
| Q: Recently, I signed a contract to buy a new construction condo in Pittsburgh Pa. I liked the model ... A: Only someone who reviews the contract and discusses the facts with you in detail can advise you on ... | ||
Small Business/Contracts Law
Answers by Expert:
David K. Staub
Top Expert on this page
Expertise
I am a business and tax attorney and have spent more than 30 years assisting people with contracts in a wide variety of business situations. I can answer questions about basic contract issues. My experience includes almost all common contracts including employment agreements, contracts for the purchase and sale of a business, shareholder agreements, partnership agreements, LLC operating agreements, leases, software development agreements, distribution agreements, franchise agreements, joint venture agreements and software license agreements, to name a few. I can also direct people to sources for answers to specific legal questions which cannot be answered in a forum of this nature.
Experience
Experience in the area
I have been an Illinois business attorney for almost 30 years. I have an extensive practice in the mergers and acquisitions area and have been involved in the tax and legal issues on hundreds of business transactions.
Organizations
Illinois State Bar Association;
Chicago Bar Association (former Chairman of the Corporation & Business Law Committee and former Chairman of the Mergers and Acquisitions Subcommittee; former Executive Committee member, Federal Tax Committee and Chairman of subcommittee on general tax issues); Glenkirk Foundation (Trustee; Vice-Chairman/Strategic Planning); Association for Corporate Growth, Chicago Chapter; Midwest Entrepreneur Forum; Midwest Association of Alpha Delta Phi - President
Publications
Commerce Magazine; YLS Journal; ISBA Section of Taxation Newsletter
Education/Credentials
Harvard Law School, J.D., 1977; University of Illinois, B.S. in Accounting, with highest honors, 1974
Website
Staub Anderson Green LLC
Chicago, Illinois
Mergers & Acquisitions
Illinois business attorneys
Practice Areas
Business Organizations
-Corporations
-LLCs
-Partnerships
-Joint ventures
Mergers & Acquisitions
-Buying/selling business
Securities Law
Tax Law
Technology Law
-Software licenses
-Development agreements
Trademarks
Disclaimer
Responses are intended to be informational only. No response is intended to constitute legal advice or create an attorney-client relationship. Online advice is not a substitute for consultation with an attorney.
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