Business Law
The Corporate Transparency Act, What You Need To Know
The Corporate Transparency Act (CTA) went into effect on January 1, 2024, requiring millions of small businesses across the U.S. to register with the Department of Treasury. Under the new legislation, businesses that meet certain criteria must submit a Beneficial Ownership Information (BOI) Report to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), providing details identifying individuals who are associated with the reporting company.
The CTA was established to prevent individuals...
Read More....Force Majeure Contract Clauses Come Into Focus as the Coronavirus Causes Widespread Disruption in Daily Life
As the public health emergency stemming from the spread of COVID-19, commonly referred to as the Coronavirus, continues to worsen, its far-reaching effects are being felt outside of the public health arena. As the disruptions in everyday life become more pervasive, individuals and businesses should also be aware of the legal ramifications of what has now been formally declared a pandemic by the World Health Organization (WHO) and the U.S. Department of Health and Human Services. In particular, individuals and businesses should...
Read More....New Jersey Wrongful Termination Plaintiff Forced to Arbitrate Despite Change in Law
In a recent case decided by the New Jersey Appellate Court, the plaintiff signed an arbitration agreement with PSEG when he first took a job with them in 2008. After he took another job with PSE&G, a PSEG subsidiary, in 2011, he was eventually terminated for various reasons including allegedly misconstruing his work hours and falsifying expense reports. The plaintiff brought suit against PSE&G and PSEG, alleging that his termination violated both the LAD and CEPA, as well as the common law. The trial court granted the defendants’...
Read More....Can a Signed Document Fail to Be Binding?
An agreement waiving a plaintiff’s right to pursue a claim against a hospital in court may not be enforceable, even if it bears the plaintiff’s signature and the plaintiff was fully cognitive at the time of signing. In a recent case, the New Jersey Appellate Court held that, even though courts abide by a strong preference for enforcing arbitration agreements, such agreements still must be the product of “mutual assent” to be enforceable. This means that all parties must understand the terms of the agreement they are signing.
The plaintiff...
Read More....Can Debtors Plead the Fifth in a Collection Action?
The New Jersey Appellate Court recently held that Fifth Amendment protections might not extend to debtors that refuse to comply with discovery requests, including questions regarding their loan obligation and requests for documentation.
Rajendra and Jyoti Kankariya (“Defendants”) own Lotus Exim International (“LEI”) which is a marble and granite wholesaler. Defendants took out a $17 million loan from Provident Bank (“Provident”) on behalf of LEI. They secured the loan by executing personal guarantees, meaning Defendants...
Read More....What’s in that Waiver?
A recently decided case from the New Jersey Appellate Division analyzed the waiver form a trampoline park requires before customers and their children are permitted to enter. A father electronically signed a waiver form for his son to play at the SkyZone Indoor Trampoline Park. The waiver contained standard provisions that SkyZone would not be held liable for any injuries that occurred at the SkyZone. During their time at the SkyZone, the father’s son suffered a fractured ankle while playing trampoline dodgeball.
When the father...
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