By Don White | Published August 21, 2020 | Posted in Business Law | Tagged Tags: business formation, fiduciary duties, trustee | Comments Off on Court Rules Old Friendship Does Not Equal a Fiduciary Relationship
Court Rules Old Friendship Does Not Equal a Fiduciary Relationship
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. The fiduciary must place the interests of the other above his or her own. This type of relationship can exist between a trustee and a beneficiary, a financial adviser and a client and other contexts Read More
Read MoreWhy a Buy-Sell Agreement is Essential for a Small Business
Whether you’re starting a new business or are fully engaged in running one, it’s vital to plan ahead for what happens to the enterprise when you or one of your co-owners retires, becomes disabled or passes away. Creating an agreement that provides for such contingencies can help you ensure a smooth transition that avoids business Read More
Read MoreWhat Are the Advantages of an LLC Under the Texas Business Organizations Code?
Entrepreneurs forming a business must decide which type of organizational structure best suits them. There are several types of business entities recognized under Texas law, among them partnerships and corporations. A third type — the limited liability company, or LLC — combines elements of both, in that it is subject to lesser regulation than corporations Read More
Read MorePiercing the Corporate Veil
Generally, the individuals who own and run a company are not liable for the acts of the corporation. Veil piercing is a way around this. Veil piercing typically involves multiple parties and multiple claims and can be a complex and confusing theory of liability. Nonetheless, a few key concepts can assist the decision maker in Read More
Read MoreBusiness Divorce
What do you do when you and your business partners just can’t make it work anymore? A business is very much about relationships, but unlike a marriage where there is only one way to legally dissolve the relationship, when it comes to a business in which you might have partners, members, co-owners or shareholders, there Read More
Read MoreQuantum Meruit: Recovering on a Contract When There Is no Contract
When two parties enter into a contract for goods or services, the parties generally create a set of responsibilities to one another. Each side is obligated to perform their part of the contract in exchange for the performance by the other side. A contract that would be upheld by a court is called an enforceable Read More
Read MorePossessory Liens: Enforcement and Collateral Recovery
The Texas Legislature has enacted possessory lien statutes in the Texas Property Code to protect service providers who perform work on personal property such as motor vehicles, boats, and aircraft. This article is limited to the liens available to service providers who repair, tow and store motor vehicles. The purpose of this article is to Read More
Read MorePredatory Lending Practices by Bank of America Corp
The U.S. Supreme Court recently heard oral arguments in a case involving alleged predatory lending practices by the Bank of America and whether a municipality, the City of Miami, may file a suit for economic damages under the Fair Housing Act (FHA). The City alleges that the bank’s predatory lending practices disproportionately affected minority communities. Read More
Read MoreWelcome Cody Lewis!
Hayes, Berry, White & Vanzant would like to welcome Cody Lewis to our firm! Cody comes to us from Beasley, Hightower & Harris in Dallas, Texas. Cody works tirelessly to uphold his client’s values, interests, and objectives while providing them with the highest level of information to achieve their objectives. Cody will be practicing Civil, Read More
Read MoreMorrison v. County of Fairfax: Fire and Police Department Personnel Overtime
A recent case out of the U.S. Court of Appeals for the Fourth Circuit gives a detailed explanation of the rules regarding overtime pay for fire and police department personnel. In Morrison v. County of Fairfax, a group of over one hundred current and former fire captains brought suit against Fairfax County for the denial Read More
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