Category Creditors
Loans, Mortgages, and Liens
by Bryan Lane Berson, Esq. Collateral is an essential component of loan transactions. Realty (i.e., real estate) or personalty (i.e., personal property) can serve as collateral. The creditor’s (i.e., lender) interest in the collateral depends on the transaction, loan, property, and law. The debtor (i.e., borrower) will acknowledge that it is conveying an interest to […]
Handling Less Than “Full Payment” Checks in New York
by Bryan Lane Berson, Esq. Suppose a customer owes a vendor $75,000, but he gives a check for $50,000 and the memorandum says “full payment.” The “full payment” notation is a “restrictive endorsement.” Perhaps the customer is playing a stealthy trick. Perhaps he genuinely believes he owes $50,000. Regardless, the check is $25,000 short, and […]
Corporate Governance: The Basic Legal Framework
by Bryan Lane Berson, Esq. Corporations are legal entities and one of several ways to structure a business. All corporate stakeholders should have a solid grasp of basic corporate governance. Owners, managers, and shareholders should understand their rights and responsibilities. Incorporators, or promoters, form a corporation by filing a certificate (i.e., articles of incorporation, charter) […]
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