Tenaglia & Hunt Blog

Insights on our firm results and information that affects our clients and their businesses and industries.

Insights on our firm results and information that affects our clients and their businesses and industries.

Practices

• All Categories
• Business Litigation
• Commercial Collections
• Consumer Collections

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New York Partnership Agreements

• Roles of the partners. It is vital that the agreement outline the roles and obligations of each partner. This includes setting forth the time, labor and financial contributions required of each partner.
• Financial distributions. The partnership agreement should outline the ownership percentages of the partners, as well as the allocation of profits, losses and draws.
• Binding authority. To avoid opening yourself to substantial liability, your partnership agreement should provide that a partner must obtain the other partners’ consent before acting to bind the partnership. Your agreement should also set forth the management duties of each partner and what actions require a majority vote.
• Dispute resolution. It is helpful to decide how conflicts between the partners will be resolved. This includes a provision requiring mediation or arbitration to resolve disputes.
• Dissolution. Decide how a dissolution or wind down of the partnership will be achieved.

If you have questions regarding partnership agreements, contact the attorneys at Slater, Tenaglia, Fritz & Hunt.

For a free initial consultation with skilled corporate litigation lawyers, contact Slater, Tenaglia, Fritz & Hunt, P.A. We have been providing outstanding legal services for more than 35 years. We are conveniently located in New York and New Jersey. To schedule your appointment, please call us at (201) 820-6001 or (212) 692-0200. We can also be found on the Internet, Facebook, LinkedIn, Twitter, Google+ and Youtube. We also have a network of local counsel throughout the United States.

Practices

• All Categories
• Business Litigation
• Commercial Collections
• Consumer Collections

At this time, Tenaglia & Hunt offers language access and translation services for verbal and written communications in English and Spanish only.

A translation and description of commonly-used debt collection terms is available in multiple languages on the NYC Department of Consumer and Worker Protection (DCWP) website https://www1.nyc.gov/site/dca/consumers/Glossary-of-Common-Debt-Collection-Terms.page.

New Jersey / New York / Delaware / Maryland / Virginia / Washington D.C.

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At this time, Tenaglia & Hunt offers language access and translation services for verbal and written communications in English and Spanish only.

A translation and description of commonly-used debt collection terms is available in multiple languages on the NYC Department of Consumer and Worker Protection (DCWP) website https://www1.nyc.gov/site/dca/consumers/Glossary-of-Common-Debt-Collection-Terms.page.

New Jersey / New York / Delaware / Maryland / Virginia / Washington D.C.

© Copyright Tenaglia & Hunt, P.A. All Rights Reserved. PRIVACY/Disclaimer

Site by JeanSullivanDesign Hosted on the FirmWise platform