Business & Commercial Law
New Jersey Law Blog
Income Tax Liability in Divorces: Innocent Spouse Relief
Posted in Business & Commercial Law
Generally, husbands and wives file joint tax returns while married. As joint filers, both parties are jointly and severally liable for any taxes, penalties and interest due as a result of those filings. When parties are divorcing, one of the spouses may raise an issue with regard to the truthfulness of previous tax returns filed Continue reading
In a Divorce, Are Retirement Accounts Subject to Equitable Distribution?
Posted in Business & Commercial Law
I have found that many of my clients who are going through a divorce have a lot of misconceptions regarding the division of their retirement accounts they established before their date of marriage. My clients’ initial impressions have been mixed. During initial consultations, some clients have informed me that their spouse would be entitled to 50% of the total retirement account, while others seem to believe that their retirement account is not subject to equitable distribution because it originated before their marriage. Continue reading
Under the Consumer Fraud Act, a Spiritual Loss Is Not an Ascertainable Loss
Posted in Business & Commercial Law
A recent published case with a unique set of circumstances serves as a reminder that for a plaintiff to prevail and secure treble damages under the Consumer Fraud Act (CFA), not only must the plaintiff show that the defendant committed unlawful conduct, that plaintiff must also be able to demonstrate that he suffered an ascertainable loss. Continue reading
New Jersey Supreme Court Holds That Individuals May Be Held Personally Liable for Regulatory Violations of the Consumer Fraud Act
Posted in Business & Commercial Law
On July 7, 2011, the New Jersey Supreme Court expanded the reach of the Consumer Fraud Act (CFA), arguably already the most extensive of consumer protection laws in the United States, and held that under certain circumstances, owners and employees of a corporation may be individually liable for regulatory violations of CFA undertaken by them through the corporate entity. Continue reading
Minority Oppression – Appointment of A Custodial Receiver
Posted in Business & Commercial Law
In previous blog entries, I focused on the causes and final remedies available in minority oppression cases. This posting focuses on what happens during the pendency of the litigation if the parties cannot run the subject company. Depending on the circumstances, the Court possesses the inherit power to appoint a custodial receiver to manage the subject corporation’s affairs during the pendency of the minority oppression claim. See, N.J.S.A. 14A:12-7(4). A custodial receiver is generally charged with protecting and preserving the corporation itself while the case is pending. Continue reading
Litigation Hold Letters – Do I Need to Comply?
Posted in Business & Commercial Law
So you’ve received a litigation hold letter demanding that you cease from destroying any evidence. One of the first questions that comes to mind is – “Do I need to comply?” Essentially, a litigation hold letter requests that the recipient (either an individual or company) cease from destroying any documents, both physical and electronic, that may be relevant to litigation. The litigation may be currently pending or the party may be threatening future action. Compliance with the letter depends upon whether you: (1) are a party to the pending litigation; (2) are a non-party to a pending litigation; or (3) anticipate being made a party to a lawsuit. Continue reading
New Jersey Supreme Court “Splits the Baby” on the Entire Controversy Doctrine
Posted in Business & Commercial Law
In any complex litigation, there are potentially numerous claims that could be asserted against an even greater number of parties. For example, a Condominium Association could bring a construction defect claim against a developer. The developer, in turn, could have claims against the subcontractors it used, its insurance carrier, its suppliers and its consultants. Continue reading
Garden Leave Provisions: A groing trend in employment agreements
Posted in Business & Commercial Law
Stark & Stark’s Employment Group authored the article, Garden Leave Provisions: A growing trend in employment agreements, for the New Jersey Law Journal’s April 18, 2011 Employment & Immigration Law Supplement. The article reviews the history of the garden leave and its advantages and disadvantages to New Jersey employers in… Continue reading
Inspection Rights Under New Jersey Corporate Law.
Posted in Business & Commercial Law
Inspection of a closely held company’s books and records is typically extremely important to a minority shareholder to make sure that the company is being operated properly and fairly. Thankfully, subject to reasonable limitations, both members and shareholders are generally able to obtain and review financial and other important corporate documents. Continue reading
Protect your Identity: Exercise your Right of Publicity
Posted in Business & Commercial Law
Have you ever wondered what you’re worth? No, not your “net worth” (i.e. the cumulative value of your assets less any debts or liabilities), but the commercial value of your name, identity, image or likeness. Yes, you have a right of publicity: the right to control the use of your name, picture, voice, image or likeness, and to prevent another from using the same for commercial benefit without your consent. Continue reading
