By Matthew A. Quick
The court in the case of Action Plumbing Company, Inc v Bendowski held that a subcontractor’s attorney fees cannot be taxed on subsequent purchasers of homes by including attorney fees in foreclosure actions, in violation of Mechanics Lien Act. The court stated that it was taxing attorney fees as against allegedly bankrupt [...]
Entries Tagged as 'Business'
Mechanic’s Lien Act and the Taxing of Attorney Fees (Illinois)
September 3rd, 2010 · No Comments · Business, Real Estate
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Truth in Lending Act and Security Interests (Illinois)
September 3rd, 2010 · No Comments · Business
By Matthew A. Quick
In the case of Randle v Americash Loans, LLC, the Plaintiff took out a loan from the Defendant, which is a cash loan company. The Plaintiff filed suit alleging that company violated Truth in Lending Act and Illinois Interest Act by failing to disclose a security interest, because the Defendant’s loan documents [...]
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LLCs and Creditor Attachment of Membership Distributional Interest (Illinois)
August 31st, 2010 · No Comments · Business
By Matthew A. Quick
The holding in First Mid-Illinois Bank & Trust v Parker, highlights a concern of the protections afforded by a limited liability company (LLC). In the case, the Plaintiff succeeded in having the court enter a judgment against the Defendants. To enforce the judgment, the Plaintiff joined an LLC in which [...]
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Corporations: Derivative Actions and Dissolution (Illinois)
August 17th, 2010 · No Comments · Business
By Matthew A. Quick
The case of Hall v Chu illustrates that a shareholder cannot maintain a derivative lawsuit where the corporation is dissolved at the time the lawsuit is filed, outside of extenuating circumstances.
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GPS Vehicle Tracking Just Got A Little Tricky (Michigan)
July 14th, 2010 · No Comments · Business
By Marc F. Herron
Michigan, as of July 1, 2010, has a new law that applies to the use of GPS vehicle tracking devices. So… all you do-it-yourselfers out there take note.
Under the new law, placing a GPS tracking device on a motor vehicle without the knowledge and consent of the owner or lessee is [...]
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Minimum Wage Law (Michigan)
February 5th, 2010 · No Comments · Business
By Marc F. Herron
For some, starting a small business is a way to bridge the gap between employment opportunities. For others, it is the fulfillment of a dream. Regardless of one’s motivation, the Minimum Wage Law applies equally.
As Michigan employers, small business owners must be acquainted with the applicable wage law. In [...]
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Naming A Business (Michigan)
January 13th, 2010 · No Comments · Business
By Marc F. Herron
Shakespeare’s Juliet said:
“What’s in a name? That which we call a rose
By any other name would smell as sweet.”
Romeo and Juliet (II, ii, 1-2)
Well, under Michigan law, it does matter what is in a business’s name. There are some specific words that are required to be in business entity names. [...]
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Nonprofit Corporations: Articles of Incorporation
January 12th, 2010 · No Comments · Business
By Marc F. Herron
Aside from the Internal Revenue Service’s requirements for tax-exempt status, this article discusses Michigan’s statutory requirements for nonprofit corporation articles of incorporation. Pursuant to section 202 of the Michigan Nonprofit Corporation Act, MCL 450.2202, a nonprofit corporation’s articles of incorporation must contain the following information:
1. The corporation’s name.
2. The corporation’s purpose. This must [...]
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Workers’ Compensation (Michigan)
January 6th, 2010 · No Comments · Business
By Marc F. Herron
Let’s take a look at some information small business owners should familiarize themselves with regarding workers’ compensation coverage in Michigan. Pursuant to Michigan’s Worker’s Disability Compensation Act, MCL 418.101, et seq., all private employers employing three (3) or more workers at the same time must have workers’ compensation insurance. MCL [...]
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Prevailing Wage Act (Illinois)
December 17th, 2009 · No Comments · Business, Real Estate
By Matthew A. Quick
In light of the recent holding in Town of Normal v Hafner, when individual sole proprietors construct private residences on privately owned land with financing from private banks are not obligated to pay prevailing wage to laborers working on the project, because they are not considered a public body and private multifamily [...]
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