Posts Tagged ‘Development’

Rethinking the Nevada Corporation

September 28th, 2022

Limited Liability Protection: Whether your company has greater limited liability protection in Nevada versus other states is debatable. Many believe that Nevada state precedence makes piercing the corporate veil much more difficult. Whether this is true will depend on the facts of your case and how good your lawyer is, since the test for piercing the corporate veil in both states are substantially similar (both California and Nevada require a showing that a substantial injustice or perpetuation of a fraud occurred). However, in regards to directors and officer liability, Nevada law provides that directors and officers are not liable for any damages resulting from a breach of fiduciary duty unless the breach involved intentional misconduct, fraud, or a knowing violation of the law. (See Nevada Rev. Stat. §78.138(7)).

Jurisdiction: This can be good or bad for your company. If you are operating in California but are a Nevada corporation, the question is which state law takes precedence? As indicated above, in most circumstances, your corporation will be deemed a pseudo foreign corporation and thus be subjected to California’s laws. So if you are sued, the lawsuit would likely occur in the California. However, if the plaintiff attempts to pierce the corporate veil, the lawsuit may occur in Nevada, thus the plaintiff would have to face additional expenses to travel to Nevada to try the case. Likewise, you as the defendant would be required to go to Nevada as well. However, if you enter into contracts with others, your contract can include “choice of law jurisdiction” provisions, which require that the contract falls under the laws of Nevada. Similarly, “choice of forum” provisions in your contracts will require your case to be heard in Nevada.

Privacy: Nevada is generally more restrictive than most states in sharing information about its corporations with other states and the government. As such, many celebrities and high profile individuals seeking anonymity often end up incorporating in Nevada. However, both California and Nevada do not require its stockholders to be listed in public records. Further, Nevada does not share information with the IRS unlike California. But if a Nevada corporation conducts business as a pseudo foreign corporation in California, it would be required to disclose the information to the IRS.

Duties of a New Jersey Accident Lawyer

April 20th, 2022

The accident- New Jersey lawyer generally links to the legal issues pertaining to the accidents with burning issues like liabilities, damages and source of payment. These lawyers can deal specifically with those affected in an accident, and these lawyers could help you to get the compensation to which you are allowed.

However, the claim forms need to be submitted in time by the accident Nevada lawyer without making any delay on the part of the client. However, the accident victims or the caretakers of the accident victims need to give proper documentary evidences to the lawyer with regard to the situations in which the accidents happened and the extent of financial loss experienced or expected.

In this regard, the client involved in the accidents will be specifically assisted against the loss encountered during the undergoing of medical expenses related to the emergency treatment.

The attorneys always attempt to settle down the claim amounts in a speedy manner from the concerned, against the loss suffered by the clients. The expenditures on surgical remedies including the dental or other structural remedies experienced due to the accidents will be compensated immediately if you seek help from these lawyers when you met with an accident.

There are many skilful lawyers both at Jersey and Nevada who have associated in dealing with accident cases. Accidents may happen at any time. Hence, the accident cases need to be brought to the limelight in a proper manner by associating with lawyers.

There should not be any sort of discrepancy with regard to the claim form contents and the actual happenings pertaining to the concerned accident.

If any such discrepancy is noticed during the legal proceedings associated by notaries of Jersey or Nevada, then the case will not win and the concerned victims or the care taker of the victims may not get the claim amounts in time.