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Newport Beach California Legal Blog

Resolving breaches in contract: What you need to know

A breach of contract sounds bad, and it very much is. In most people's worst nightmares, it's a breach of contract that leads to their business ideas ending up in competitor's hands. The reality is that breaching a contract does have far-reaching consequences and does need to be taken seriously.

A breach of contract occurs when one party doesn't fulfill its obligations to another. The two, or more, parties have a contract. By failing to meet their obligations, one or more party breaches the contract.

LLC not always an option in California

Every new start-up business has many different ways that it can be organized, all of which have advantages and disadvantages. Often, the limited liability corporation (LLC) is the simplest and best way to proceed. In California, however, most professional service providers are specifically prohibited from doing so.

This strange quirk in the California Professional Corporation Act means that business formation can be much more difficult. It’s important to understand what options are open to your new business and how it can be best formulated under the law to protect you and your assets.

Essential items for secure distributor agreements

A distribution agreement is a legally binding document between parties that outlines the right to sell merchandise in return for fair compensation. A distribution arrangement is essential for product circulation and a strong distribution agreement is a must for establishing vendor relationships. Using a distributor is an effective way to place products in new or expanding markets.

Building blocks of an agreement

Financing and legitimacy concerns for international new ventures

When attempting to start an international venture, the focus should be on finding a way into the market and cementing business relationships. Both of these tie back to legitimacy and financing which are necessary to create venture sustainability.

Seeking financing

Anna Nicole Smith is the perfect example of inheritance issues

The story of the wicked step-mother is one that spans countless languages and cultures across the world. Stateside we have a modern-day version of this timeless tale that involves a gold-digging woman who swindles an older man who is already financially well off into giving her all of his assets.

One highly publicized example of this modern-day myth is the late starlet Anna Nicole Smith case. Following her first husband’s death, Smith began a lengthy legal battle with his family over his estate. The resulting legal battle has lasted well over a decade and, according to one judge, will last into perpetuity.

Is your trustee a thief?

Managing the financial undertakings of someone’s trust is not as easy as signing a few checks. A trustee safeguards assets for someone else. When selecting someone to put in charge of a trust, whether family member or close friend, the situation can become complicated if it appears that some form of theft has happened to the trust. Attempting to prove that fraudulent activity has occurred is difficult. There are several signs to look for when reviewing the trustee’s use of the account that demonstrate the fraudulent use of the trust.

How to prove mismanagement of a trust:

Modern families require new strategies for wealth management

According to census data, the American family has changed. Fewer are comprised of the traditional nuclear family of two heterosexual parents and a couple of children.

Today, step children, same-sex couples, adopted children, spouses with different countries of origin and more are all part of the mix of what a family might be.

When a trustee is not trustworthy

We expect a lot from people entrusted with our money. Those who have fiduciary duties may be trustees, estate administrators, guardians, or agents. They have access to your accounts, and they must conduct themselves with scrupulous honesty. They are not allowed even a hint of self-dealing or conflict of interest.

There are few situations as dangerous as a trustee who is not trustworthy.

Mistrusting the trustee: how to handle trustee malfeasance

A trust is a common estate planning tool, but they require a trustee to manage them. While one hopes the trustee they choose is honest, ethical and trustworthy, trustee malfeasance happens. When a trust is mismanaged the funds meant for beneficiaries can be greatly reduced or even lost. Keeping a watchful eye on a trust can help you spot mismanagement before considerable damage is done.

 

Who is driving Chef Driven?

Imagine creating something brand new. As it grows, you realize you need help keeping up so you bring in outside experts. You sign a contract with those experts and your creation continues to grow.

Then those experts take over, ousting you and saying they own the rights. That is what Denver chef Frank Bonanno says happened with his Chef Driven PBS show. Bonanno filed a federal lawsuit last year alleging that Left of Frame production company stole his show. The producers claim the original contract also gave them those rights.

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