Generally, New York law provides that a company that buys the assets of another business is not liable for the seller’s pre-existing liabilities. However, there are several important exceptions to this rule. One of them is known as the de facto merger doctrine and it creates successor liability when the transaction between the purchasing and … Read more
While we all receive an account agreement when we open a bank account, very few of us, whether businesses or individuals, take the time to read the agreement or the countless updates to those procedures. However, these agreements control our relationship with our chosen bank and set forth our rights and responsibilities in the event … Read more
By Jill Weinberg, Esq. Employee wage and hour claims, usually for unpaid overtime, can be financially draining to companies big and small. Unfortunately, they have been on the rise. A good example is MetLife who was recently sued in federal court, in the Southern District of New York for $50 million dollars in unpaid overtime … Read more
The New York Legislature recently passed an anti-sexual harassment law which is likely to make it easier for workers to win their lawsuits. The Bill, which was championed by Governor Andrew Cuomo and is now awaiting his signature, does away with the requirement that the alleged misconduct be “severe or pervasive” in order to constitute … Read more
Tenants negotiating a commercial lease often face “landlord-friendly” contract clauses. A recent decision (issued on May 7, 2019) addressed one such provision which stated that the Tenant waived its right to bring a declaratory judgment action with respect to the lease or any notice sent pursuant thereto. The Tenant filed a declaratory judgment action and … Read more
In many academic settings, students have the opportunity to work in a controlled and supervised environment in order to learn necessary skills, particularly in fields which require licensing by the state. These student trainees generally are not paid. A recent federal appellate court case addressed the question of whether they are employees and therefore, entitled … Read more
Before you buy any interest in a business, it is crucial to confirm what you are buying and take all of the formal steps necessary to complete the transaction. In the case of purchasing an LLC interest, the most important document to be reviewed is the LLC Operating Agreement. An LLC Operating Agreement (or Shareholder’s Agreement … Read more
It’s common for parties who have existing or regular dealings with each other to buy and sell services or goods without a contract. Instead, the parties will simply invoice each other for payment. New York law recognizes that the parties may have an implied agreement based on such invoices and they can sue for payment even though … Read more
In July of 2014, Governor Cuomo signed the Compassionate Care Act (“CCA”) authorizing the manufacture, sale and use of medical marijuana within New York State. The CCA has created a potential issue for those employers who conduct drug testing or otherwise have a written policy against the use of recreational drugs. The open question is whether … Read more
Earlier this year, New York State and New York City enacted significant changes to sexual harassment laws that affect employers and employees. Both laws mandate sexual harassment prevention policies and annual training along with other changes. These requirements go into effect July 11, 2018 through April 1, 2019 depending on the provision. Below is a … Read more