You only have a year to do that. Since arbitration is an expedited process, you get a relatively short period to confirm the award in New York. Confirming the arbitration award has a 12-month statute of limitations. And the clock starts ticking the date of the arbitrator’s final determination, not the date of the arbitration award.
While confirming the award sounds simple and straightforward, there can be bumps in the road. Make certain not to drive into a pothole, causing damage beyond repair that prevents you from confirming your award on time. Continue reading “What’s The Time Limit To Convert An Arbitration Award To A Judgment In NY?”
If you are paying personal expenses from a corporate account, you may be liable for corporate debt.
Some business owners can’t help but get in their own way. For example, take the business owner who rings up debt and uses corporate assets to pay personal expenses. They believe that status as a corporation shields them from personal liability for corporate debts.
And let’s say that you recovered a judgment against a corporation. As a judgment creditor in New York, you can subpoena their financial institution records and more. By subpoenaing the corporate bank records, you can see checks issued from the corporate account. Continue reading “Paying Personal Expenses From A Corporate Account?”
There are those that think they have you beat. Perhaps your customer had no intention of paying in part or in whole and purposely did not sign the contract. You ask for payment and they remind you that you do not have a signed agreement and perhaps invite suit! Don’t worry, even without a signed agreement you can get payment for the work done.
It’s ideal to have a signed agreement. Despite technology and all the conveniences, in some business transactions, it isn’t always possible. Whether deliberate or not, there are those clients who get around signing a contract.
Many clients believe they cannot recover monies owed because they did not secure a signed, written agreement or additional written requests for work. For those customers who may have purposely engaged you with the intent not to pay, they will claim that you cannot collect because you do not have a signed written agreement. Not true. Continue reading “The Work Was Done Without a Written Contract, Can I Still Get Paid? “
Your customer fails to make payment. If payment is not made within 30 days your invoice states that you have the right to more than just the contracted price. You carefully included additional terms on your invoice. These terms stood out in bold type. Your invoice stated that you would add 1 1/2% interest per month. You also stated the customer will pay collection costs, attorney fees and finance charges.
Now you seek to enforce your rights to payment. But you discover that you cannot collect the interest and extra charges even though your invoices clearly state that you are entitled. The customer accepted the invoice and raised no objections. Didn’t the customer then agree to all the terms on the invoice? Continue reading “But My Invoice Clearly States I Am Entitled To More”