A Merchant Cash Advance (“MCA”) allows an MCA provider (“buyer) to purchase future credit or debit card sales from the merchant (“seller”). The payback amount depends on the merchant’s sale volume. Merchant Cash Advances differ from loans because the buyer of the future receivables takes on the risk of non-payment. When a Merchant Cash Advance is constructed correctly, it will not be considered a loan and will not be subject to state usury laws. However, while the original intent was to provide small businesses with an alternative to traditional loans, predatory lenders have disguised their usurious loans as MCA’s to circumvent state usury laws and charge interest rates that exceed the maximum allowed.

If you are a property owner who has had a construction lien filed against your property, you may have defenses allowing you to discharge the lien at the lien claimant’s expense. Liens against property are problematic because they can prevent transfers of the property or impede your ability to obtain a mortgage. This article will explore some of the defenses available in the event a construction lien has been claimed against your property.
August 17, 2017 Mark T. Matri Business Law
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For most residential construction contractors, the risk of non-payment is a threat that, if realized, can cease the day-to-day operations of the business. Non-payment usually stems from a dispute between the owner and general contractor (“GC”) regarding the quality of the work. Regardless of whether you are a GC or subcontractor, the filing of a construction lien is a powerful weapon against non-payment. In the residential construction context, the filing of a construction lien has additional requirements above and beyond that of commercial construction. This article will discuss the added requirements necessary to validly record a residential construction lien claim.
July 27, 2017 Mark T. Matri Business Law, Contracts
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As a full service law firm, Scura, Wigfield, Heyer, Stevens & Cammarota LLP provides legal services and advice to both established corporate entities and start-up companies. One of the most common questions that individuals looking to launch a start-up company ask is: What type of business entity should I form? Our firm has extensive experience with Limited Liability Companies, C-Corporations, S-Corporations, Partnerships, and Sole Proprietorships. Notwithstanding, the most common types of business entities are LLCs and Corporate Entitles, C-type and S-type. This blog will focus on the legal issues related to the two most common business entities. Lastly, please speak with a tax professional prior to forming a corporate entity to determine which tax classification is best for your business purposes.
June 7, 2017 Guillermo J. Gonzalez Business Law
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Many business owners find themselves in a situation where they are saddled with debt and can see no way out. These businesses may even own real property facing foreclosure. An insolvency proceeding through the bankruptcy court or an assignment for the benefit of creditors through the State Court may be the answer to your problems.
January 23, 2017 David E. Sklar Bankruptcy, Chapter 11, Business Law
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If you file personal bankruptcy and you own a business you have to be careful on the impact the bankruptcy will have. The first thing that has to be determined is the type of ownership structure, i.e., sole proprietorship, corporation, partnership or limited liability company. Next, you want to have an idea of the rough value of that business interest. To be sure, you want to be able to continue to operate and protect your ownership interest in the business if you file a bankruptcy.
September 29, 2016 Scura Law Firm Bankruptcy, Business Law
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Have you ever wondered how referrals work in law firm in New Jersey? Check out how the New Jersey Court Rule allows division of fees to avoid business disputes.
June 10, 2015 Scura Law Firm Business Law
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Business Bankruptcy & Licensee Rights
The rights afforded to a licensee under Section 365(n) trump "free and clear" sales under Section 365(f). This was the holding in a recent decision by Judge Kaplan in the Crumbs Bake Shop bankruptcy case; case number 14-24287. A court order allowing the sale of a bankrupt business free and clear of all liens will not reject or terminate a licensee's rights.
February 13, 2015 Christopher J. Balala Bankruptcy, Business Law
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An innovative idea or untapped market niche does not automatically translate into commercial success. If you are forming your own business, it must be built upon a proper foundation. The choice of entity and the structuring of ownership agreements are critical elements that are often overlooked or set up improperly. This is how a business litigation or business planning lawyer can help.
January 1, 2015 Scura Law Firm Corporate Litigation, Business Law
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(ABC) Viewed as an Effective and Less Costly Alternative to Bankruptcy for the Liquidation of a Business.
It was reported on February 12, 2007 in the National Post (Canada) by Columbia Professor Edward Morrison, that using state insolvency systems is faster and less expensive in most cases. Professor Morrison said, "It's a much less public event than a federal bankruptcy filing, and thought to be very quick and relatively cheap."
May 15, 2014 Scura Law Firm Bankruptcy, Business Law
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