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NJ Limited Partner Liability for Partnership Debts

Posted by March 21, 2018 , ,

NJ Limited Partner Liability: Can a Limited Partner be Held Liable for a Limited Partnership’s Debts? In limited circumstances the answer is “yes”. Under New Jersey’s Uniform Partnership Law a limited partner is protected from liability from the limited partnership’s obligations except in two instances: (1) Where the limited partner i ... Read More.

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Imposing Personal Liability on Business Officers and Owners in New Jersey

Posted by February 9, 2017 , , ,

One of the primary benefits for individuals operating a business under the umbrella of a corporation or limited liability company is avoiding personal liability. As a general matter, “[t]he rule of law that has evolved in New Jersey is that the corporate form as a wholly distinct and separate entity will be upheld.” Coppa v. Taxation Div. Direc ... Read More.

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Father’s $900,000 Transfer to Son’s Business Not a Gift, Says NJ Appeals Court

Posted by May 14, 2016 , ,

In a published decision issued on May 13, 2016, the New Jersey Appellate Division affirmed a Bergen County Chancery judge's summary judgment ruling declaring that a $900,000 transfer made by a father to his son's business constituted an investment, not a gift. In the Matter of the Estate of Byung-Tae-Oh, Superior Court of New Jersey, Appellate Div ... Read More.

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New Jersey Employer Can Recoup Salary of Employee Who Breaches Duty of Loyalty, says NJ Supreme Court

Posted by September 22, 2015 , ,

In a decision sure to grab the attention of the New Jersey workforce, today the New Jersey Supreme Court unanimously ruled that an employer can recover the salary of an employee who breaches his duty of loyalty to the employer, without the necessity of the employer proving economic loss as a result of the duty breach.  Kaye vs. Rosefielde, Docket ... Read More.

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