Governing documents of an LLC, the “operating agreement,” should provide detailed information on how most ownership disputes within the business should be dealt with by a fellow member. An operating agreement should identify the responsibilities of each member and the first course of action to be taken to resolve a dispute. Alternatively, an operating agreement may provide that the members are not liable to each Read More
Is it too late to file a lawsuit?
A statute of limitation is a law that prescribes the period to file a legal claim. In general, once the statute of limitation “runs out” the legal claim cannot be pursued. The duration under which you can file a lawsuit varies depending on the type of legal claim and related conduct. Some unlawful conduct could extend the deadline, or “toll” a statute of limitation. Statutes of Limitation for claims based on Read More
