Small Business Archives - Page 3 of 4 - Neufeld O'Leary & Giusto

Beware the Zombie Contract: When an Old Contract Can Come Back to Haunt You

It is usually clear from the terms of a contract how long the parties want the contract to remain in effect—the contract provides for a set term or task to be performed, possibly with options to extend it when certain criteria are met. However, in some instances, parties may remain bound by the terms of … Read more

What Businesses and Creditors Need to Know about Loan Guaranties

A loan guaranty is often needed in situations where a closely held corporation or LLC is borrowing money. Since such companies generally lack the collateral a bank wants to secure a loan, the bank requires an individual (usually a shareholder or member) to personally guarantee repayment of the loan in order to make the loan. … Read more

How the New U.S. Department of Labor Program Will Benefit Workers and Employers

Earlier this year, the U.S. Department of Labor through its Wage and Hour Division (the “Division”) announced a new pilot program to expedite resolution of inadvertent overtime and minimum wage violations under the Fair Labor Standards Act (“FLSA”). The program allows employers to self-report potential violations, reducing the time, money and resources spent to address … Read more

New York State is Cracking Down on Wage Theft

Many employees within the construction and restaurant industries in New York State claim that their employers exploit them by refusing to pay them the agreed upon amount, not paying overtime and permitting unsafe working conditions. Most, but not all, of these abuses occur in non-union employment situations where there is no organization keeping an eye … Read more

Complying with New York State’s Paid Family Leave Law

Effective January 1, 2018, all private employers (and many public employers) in New York State are required to allow employees to take paid leave in certain circumstances. The law applies to all private employers with at least one (1) employee. Although the paid family leave law only just went into effect this month, employers have … Read more

Do You Have to Pay Interns in New York?

Internships are widely considered to be beneficial for students, even if they are unpaid. They are supposed to provide practical experience and insight into how the student’s education is applied in a work setting. However, just because a student agrees to an unpaid internship, this does not mean that the employer automatically avoids liability under … Read more

Beware usury laws when making or receiving a loan

Generally, the law recognizes parties’ freedom to enter into a contract under the terms of their choosing. Parties can freely determine the terms of their personal and business affairs unless the agreement is illegal. However, one area where New York law steps in to impose limitations on parties’ freedom of contract is with usury laws. … Read more

Out with the Old (I-9 Employment Eligibility Verification Form) and in with the New

Employers should be aware of recent changes to the I-9 Employment Eligibility Verification form, which all employers must use. Since November 1986, when Congress passed the Immigration Reform and Control Act (the “IRCA”), employers have been required to verify the identity and employment eligibility of prospective employees prior to hiring. The IRCA prohibits employers from … Read more

What merchants need to know about charging cash versus credit card prices

A few years ago, merchants knew not to charge a “surcharge” or extra fee for a customer who paid by credit card instead of fees because most major credit card agreements did not allow it. As a result of antitrust litigation, many credit card agreements no longer prohibit charging additional fees for credit card use. … Read more

Latest Discrimination Rules in NY Mean More Risks for Employers

Companies with NY employees need to be aware of two recent legal developments which impose new liability under discrimination rules. There are already an array of different federal, state and local statutes which protect employees (and potential employees) from discrimination on many grounds, including sex, race, disability, and even felony conviction status. These rules impact not only New York based companies, but also out-of-state businesses that require New York employers to follow their employment practices.

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