As we take care of our loved ones and ourselves in this terrible pandemic, we are all doing our best to generate revenue and protect our income stream. In construction, we know contractors have one of the worst records of delayed payments of companies overall.» Read More
As the coronavirus spreads around the world, its impact on many businesses and industries, including the construction industry, is increasing.
The construction industry in the United States relies heavily on foreign suppliers and manufacturers of goods for construction materials, including steel, millwork, electrical and lighting equipment, plumbing fittings and fixtures, flooring tiles, and HVAC equipment.» Read More
Under New York State’s Lien Law, a contractor or subcontractor can file a mechanic’s lien for an unpaid balance due on labor and materials provided to improve real property, such as a co-op unit owner’s apartment. As a result, because the real property to be subjected to a mechanic’s lien is the underlying property – the building as a whole – and not just the individual unit, co-op boards become entangled in the disputes regardless of the fact that the work wasn’t done in any common areas, but within individual apartments.» Read More
Many subcontractors are faced with contracts from general contractors that include a “forum selection clause,” identifying the location and/or the court where any legal dispute will be litigated or arbitrated. That means that a party to a contract can agree to litigate or arbitrate disputes outside the location where the construction occurred or the dispute arose. » Read More
The New Jersey Appellate Division’s recent opinion in Professional Stone, Stucco & Siding Applicators, Inc. v. JMOC Builders, Inc., although not new, serves as a good reminder of what contractors need to do to prove damages in a breach of contract case.» Read More
The New Jersey Legislature adopted the New Jersey Limited Liability Company Act in 1993 (the “1993 Act”)1 and thereby ushered in a new form of business enterprise: the limited liability company (LLC). The 1993 Act enabled business owners to “take advantage of both the limited liability afforded to shareholders and directors of corporations and the pass through tax advantages available to partnerships.”» Read More
Do you know what happens if you own a New Jersey corporation, and you fail to file an annual report with the state treasurer for two consecutive years? Your certificate of incorporation can be revoked, and your company loses both its rights to continue transacting its business in New Jersey and all the powers conferred by New Jersey law. » Read More