NJ Limited Partner Liability for Partnership Debts
NJ Limited Partner Liability: Can a Limited Partner be Held Liable for a Limited Partnership’s Debts?
In limited circumstances the answer is “yes”. Under New Jersey’s Uniform Partnership Law a limited partner is protected from liability from the limited partnership’s obligations except in two instances:
(1) Where the limited partner i...
Orders Compelling or Denying Contractual Arbitration Provisions Are Directly Appealable
In a published decision issued on February 16, 2018, the Superior Court of New Jersey Appellate Division clarified that a trial court's decision to compel or deny enforcement of a contractual arbitration provision constitutes a "final order" that triggers the 45-day appeal period provided under R. 2:4-4. Hayes v. Turnersville Chrysler Jeep, Docke...
New Jersey Municipalities Face Tough Choices Ahead With Recreational Marijuana
If Governor Elect Philip Murphy keeps his campaign promise, he will be signing a bill legalizing the use, production and sale of recreational marijuana within the first 100 days of his administration. The passage of this law will force municipalities throughout New Jersey to make some tough decisions. Do they embrace the tax and other economic ...
NJ Supreme Court Upholds Creditor’s Security Interest in Attorney’s Fees
In a November 14, 2017 decision, the New Jersey Supreme Court addressed two important questions arising under Article 9 of the Uniform Commercial Code governing the pledging and perfection of a security interest in an attorney's contingency fee.
(1) Is the pledge of an anticipated attorney's fee considered an account receivable that can be sec...