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Frequently Asked Questions About Business and Commercial Law
Q: What body of law governs a contract for the sale of goods?
A: A contract for the sale of goods is governed mainly by state law. Most states have adopted Article 2 of the Uniform Commercial Code (UCC) which provides rules for all phases of a sales contract including formation, modification, performance and available remedies in the case of a breach.
Q: What body of law governs a lease of goods?
A: A contract for the lease of goods is also primarily regulated by state law. Most states have adopted Article 2A of the Uniform Commercial Code (UCC) which pertains to leases of goods.
Experienced New York Business Attorney
Weinstein, Kaplan & Cohen, P.C. has been handling business and commercial matters for clients throughout the New York metropolitan area for nearly thirty years. Our attorneys are prepared to provide legal advice and representation across a full range of business law matters, from business litigation and collections to real estate transactions and contract disputes. Our commitment to serving the legal needs of New York businesses has earned our firm an AV Rating, the highest rating available under Martindale Hubbell's peer review rating system. Our attorneys can be contacted by phone at (516) 877-2525, by e-mail, or by filling out the intake form on our Contact page.
Business and Commercial Law - An Overview
Business law and commercial law are broad legal topics that encompass business, commerce, consumer transactions and the formation and management of business entities. Some of the more important areas of commercial law include sales, secured transactions, negotiable instruments and debtor and creditor law. Contact Weinstein, Kaplan & Cohen, P.C. in Garden City, NY, today to schedule a consultation with an attorney who can help you with all of your business and commercial law questions.
The Sale, Lease and Distribution of Goods
Contracts for the sale, lease and/or distribution of goods are primarily governed by state law. However, most states have adopted the Uniform Commercial Code (UCC) with regard to these topics. A business and commercial law attorney can assist you with your UCC questions.
Secured Transactions and Negotiable Instruments
Secured transactions and negotiable instruments are two important areas of commercial and business law. In a secured transaction a borrower agrees that the lender may take property owned by the borrower as collateral should the borrower default on a loan; in other words, it is a way to secure a loan. A negotiable instrument is a writing that promises the payment of a fixed amount of money. Both of these areas are essential to modern business loans and everyday transactions.
Consumer Credit: Debtor and Creditor Laws
Credit allows people to promise to pay in the future in order to buy or borrow in the present. Credit is vital to our system of commerce and is used every day by businesses and consumers. An understanding of the laws governing consumer credit is vital to protect your own interests, whether you are the creditor, a business owner, an entrepreneur or a lending agency.
The Formation and Management of Business Entities
Most businesses are well served by choosing a variation of one of the four major organizational forms: (1) sole proprietorship, (2) partnership, (3) limited liability company and (4) corporation. Each has its own specific advantages and disadvantages. A core focus on the personal liability ramifications and tax implications of each type of entity should guide a new business owner in his or her selection.