Need advice for joint venture

[WNYresident]

Or just try to do it on your own.

[art2012]

Have to agree with WOOF.

You need 3 lawyers. The cost of having someone represent just your personal interest is much more valuable than the risk created in not doing so.

I would also look into forming a corporation for the business rather than a LLC. This allows you to issue shares in the corp.

If something happens down the road like a party wishing to leave or you want to bring on additional investment for a new property, this makes it much easier.

Thank You. Your insight is much appreciated. Any more helpful advice please feel free to give it.

[shortstuff]

art,

Have you gone through with your business partnership/adventure yet? Wondered if you can give us an update. Your attorney will help you with the LLC corporation and I wouldn't go into partnership with a friend. It can affect your relationship and with the 30 thousand you already have, that is enough for you to take on that business adventure. The if you wanted to pursue more units, you use the one you live in as collateral.

Hey, let us know what is going on....

[nogods]

art,

Have you gone through with your business partnership/adventure yet? Wondered if you can give us an update. Your attorney will help you with the LLC corporation and I wouldn't go into partnership with a friend. It can affect your relationship and with the 30 thousand you already have, that is enough for you to take on that business adventure. The if you wanted to pursue more units, you use the one you live in as collateral.

Hey, let us know what is going on....

It didn't work out.

First Art came to my office. He said he had a problem with a business partner and asked if I could sue him to get him out of the business. I agreed to represent him. He paid the retainer in cash, but after he left I noticed he had overpaid because a half-dozen of the C-notes were stuck together.

Before I could do anything another new client came in. He said he wanted to hire me to sue a business partner that didn't work out. He said his partner's name was "Art".

As he was talking I starting thinking about my ethical dilemma, i.e., did I have to tell my partner about the extra $600?

[shortstuff]

It didn't work out.

First Art came to my office. He said he had a problem with a business partner and asked if I could sue him to get him out of the business. I agreed to represent him. He paid the retainer in cash, but after he left I noticed he had overpaid because a half-dozen of the C-notes were stuck together.

Before I could do anything another new client came in. He said he wanted to hire me to sue a business partner that didn't work out. He said his partner's name was "Art".

As he was talking I starting thinking about my ethical dilemma, i.e., did I have to tell my partner about the extra $600?

Really? Is this a joke nogods? What a story if it were true. It makes me wonder why people would venture into a business partnership with a friend. It will invariably never work out.

Of course, it would be a conflict of interest right ....nogods?

[4248]

Pure fantasy:

1) who in their right mind would hand cash to a lawyer?

2) He claimed when it came to the extra cash - he had a "ethical dilemma, i.e., did I have to tell my partner about the extra $600"

Notice the dilemma didn't involve whether or not to keep the money - his dilemma was should he tell his partner.

Thats the biggest tip off -

[nogods]

Pure fantasy:

1) who in their right mind would hand cash to a lawyer?

2) He claimed when it came to the extra cash - he had a "ethical dilemma, i.e., did I have to tell my partner about the extra $600"

Notice the dilemma didn't involve whether or not to keep the money - his dilemma was should he tell his partner.

Thats the biggest tip off -

Right.

But lots of people pay their lawyers with cash.

BALTIMORE ATTORNEY STANLEY NEEDLEMAN PLEADS GUILTY TO FEDERAL TAX CRIMES FOR FAILING TO REPORT OVER $1.5 MILLION IN INCOME

According to his plea agreement, Needleman is a criminal defense attorney, practicing law for more than 30 years in state and federal court. Clients mailed or delivered payment to the Law Office of Stanley Needleman on North Calvert Street in Baltimore. Clients made payments mostly in cash, which was kept in a large bank envelope. At the end of each business day, Needleman took the bank envelope with the day’s receipts home with him. No one at the office tallied the daily receipts or completed bank deposit slips. The next day, Needleman would return the bank envelope to the office empty.

On April 14, 2011, DEA agents executed search warrants at Needleman’s law office and home. In the basement of his home, agents found two safes containing cash totaling $1,153,660, and ledgers in Needleman’s handwriting that chronicled the legal fees paid by hundreds of his clients for the period 2005 to 2010. The cash was either found bundled or in containers and bags.

http://www.justice.gov/usao/md/Publi...ninIncome.html

[WNYresident]

Right.

But lots of people pay their lawyers with cash.

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And when you pay a lawyer get an itemized bill. I recently watched someone who used the services of a lawyer. Someone who is naive and in trouble can easily be taken advantage of by a lawyer.

[nogods]

And when you pay a lawyer get an itemized bill. I recently watched someone who used the services of a lawyer. Someone who is naive and in trouble can easily be taken advantage of by a lawyer.

A potential client called today. He asked "how much do you charge?" I replied "for initial consultations over the phone I charge $600 for three questions. You got two left."

[joe d.]

A potential client called today. He asked "how much do you charge?" I replied "for initial consultations over the phone I charge $600 for three questions. You got two left."

...and this is why the joke "what is 50 lawyers at the bottom of the sea??... a good start" .........a joke with good merit!.