CALL TODAY 408-971-6270
Diemer, Whitman & Cardosi, LLP | Attorneys At Law

July 2015 Archives

Realizing the Fiduciary Duties in Partnerships

fudiciary duty.jpgWhen two or more people engage in business for profit, with or without a formal written agreement, they are partners engaged in a general partnership. Partners have fiduciary duties to each other. Depending on the type of business relationship you have (limited or general) partnership, fiduciary duties will vary. In California, Corporate Code ยง16404 dictates the fiduciary duties of partners, along with any written terms of agreement between the partners. Fiduciary duties expose partners to liability when they fail to live up to their obligations.

Creditors' Rights: Securing Reclamation Rights to Reclaim Goods

reclaimation of goods.jpgWhen you are engaged in the business of supplying goods, you have the ability to reclaim these goods when the buyer fails to pay. In rare instances, buyers will purchase more goods than usual, stock up inventory, then file for bankruptcy in an effort to refuse paying for the goods. When the business to which you supply goods becomes insolvent, it may seek protection of federal bankruptcy laws in order to prevent you from recovering any money owed. Regardless of the situation, no business owner wants to ship goods to buyers for free, without payment.

Steps to Combat Sexual Harassment in the Workplace

workplace sexual harassment.jpgWhen you are the victim of sexual harassment at the workplace, there is no harder or stressful decision to make other than deciding that you will no longer take the abuse. Employers have not only a responsibility to maintain a workplace that is free from sexual harassment, but a legal obligation to do so.

Business Divorce: When You and Your Business Partners Decide to Part Ways

business divorce.jpgIf your business got to a point where you and the other partners fail to get along, the dissolution of your business can be as emotional as a divorce in family court. When you first enter into a business, you form an entity to limit your liability and save money on taxes. These advantageous benefits disappear when you decide to dissolve the business, but your liabilities will not.

Limits of Debt Collectors after You Have Filed for Bankruptcy

debt collection.jpgRegardless who you are, financial hardships can be very stressful and make your life much harder than it needs to be. These hardships include debts from credit cards, student loans, utility bills or mortgages. Not only do these hardships cause you stress, they place immense pressure on your personal life, personal relationships and sometimes, loss of jobs. Although debt collectors are permitted to attempt to contact you in order to recover the debt owed, it is illegal for them to harass you.

Administrative Expense Claims: Understanding the Risk of Doing Business with Bankrupt Customers

chapter 11.jpgSometimes, when you do business with multiple companies, chances are that a few of them will file for bankruptcy because not all businesses are successful. When you find out that a company you have been doing business with has filed for bankruptcy, the first question you may ask yourself is whether you want to keep doing business with them or terminate the relationship.

Chapter 7 Bankruptcy and 341 Hearings

chapter-7-bankruptcy-hearing.jpgWhen you file a petition for Chapter 7 bankruptcy, you are disclosing personal and financial information to the bankruptcy court. In order to file for bankruptcy, the court needs to be aware of your debts, property, income and general state of your financial affairs. In turn, the bankruptcy court will appoint a bankruptcy trustee to oversee and administer your case. The trustee will essentially review your petition and verify that what you submitted was true and accurate using independent sources of verification.