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News
Business
[06/11]
Rude traveling salespeople evicted from Minn. hotel
[07/02]
Fugitive hedge-fund swindler surrenders in Mass.
[06/30]
Oil is making millionaires in North Dakota
[06/23]
Big Dig contractor files for bankruptcy
[06/20]
Northwestern U. to offer 2-year law program
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Articles
Business Organization and Transactions
Sources for Small Business Financing
Small businesses can get money through "equity financing" or "debt financing." Equity financing means that you sell stock in your company to a buyer, who then has an ownership interest in your company. Debt financing means a loan--you owe the person or entity that holds the debt (usually in the form of a promissory note) the amount borrowed. Here are the most common sources of equity and debt financing for small businesses.
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Running a Business With Your Spouse
If you are going into business for yourself and your spouse will help out a little, you don't necessarily need to hire your husband or wife as an employee or independent contractor, nor do you need to form a partnership, LLC, or corporation. If you follow certain guidelines, you can continue to operate as a sole proprietorship (a one-owner business).
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Case Summaries
Corporation & Enterprise Law
[07/02]
Chicago Bridge & Iron Co. v. Fed. Trade Comm'n Petition for review an order of the Federal Trade Commission requiring petitioner to divest assets acquired from a Pennsylvania company since they would likely result in a substantial lessening of competition or tend to create a monopoly is denied where: 1) the FTC correctly applied the legal standards of burdens of proof and persuasion; 2) the FTC properly analyzed the "potential entry" defense and had substantial evidence to conclude that "potential entry" evidence was insufficient to rebut the prima facie case; 3) substantial evidence supported its factual findings; and 4) there was no abuse of discretion in the issuance of its remedy provisions.
[07/02]
City of Geneseo v. Utilities Plus In an action to recover damages from corporate defendant based on claims of contractual breach, unjust enrichment, promissory estoppel, and fraud, summary judgment for defendant is affirmed where: 1) defendant's president was found to lack actual authority to enter a binding contract on the company's behalf; 2) the doctrine of apparent authority, which was limited under state laws, did not alternatively create a contract to be enforced; and 3) plaintiff had no basis to recover damages under alternative principles of contractual remedies.
[07/02]
Rodriguez-Rivera v. Federico Trilla Reg'l Hosp. of Carolina In a medical malpractice case against defendant-hospital presenting the issue of whether an Asset Purchase Agreement entered between past and present owners of the hospital absolved the current owner's liability for acts or omissions by the hospital's previous owners and/or operators, the circuit court finds that the terms of the asset purchase agreement not only could, but did, absolve the present owners from liability.
[07/01]
G.K. Alan Assoc., Inc. v. Lazzari In a civil lawsuit involving defendant's alleged acts of fraud and embezzlement, a ruling finding that summary judgment for either party was precluded is affirmed where inquiries as to defendant's actual intent for the wrongdoings charged, and plaintiff's knowledge of defendant's ongoing fraud or embezzlement practices, were factual issues properly resolved at trial.
[07/01]
In the Matter of Venigalla v. Nori Article 9 of the Religious Corporations Law does not provide for any elections, other than votes of the trustees themselves. Thus, provisions in the bylaws of an entity incorporated under the Religious Corporations Law, which called for election of trustees by the "General Body", facially contradicted Article 9 and were invalid from their inception.
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