Archives for June 2011

What To Do If You Are Injured on a Cruise Ship

What To Do If You Are Injured on a Cruise Ship: Many people are injured every year on cruise ships. Many of those people are unaware of how to take proper legal action. Do not let yourself be one of those people. One of the most common mistakes passengers of cruise ships make is that they do not know how long they have to file suit. Most cruise lines have their own statute of limitations of one year in small print located on the back of ticket. If someone injured on a cruise ship fails to file suit against the cruise line within one year from the date of the accident, they will be unable to recover from the cruise line. The other common problem people have is that they do not know where to file suit. Most often, this information is also located on the back of the ticket in small print. Because Miami, Florida has the world’s largest cruise ship port, many cruise lines state that any person who wishes to take action against them must file in Florida, and particularly in Miami. If a person is injured on a cruise ship and files in another location, they risk dismissal of the case for improper venue and they risk the running of the statute of limitations.

If you receive an injury on a cruise ship, you should do as many of the following as possible. Get contact information from all witnesses. Take a picture of your injuries and the area where the injury occurred as soon as possible. Report the incident to the proper authorities on the ship and make sure to get a written copy of any report they make. Seek treatment from the ship’s physician on board and try to get a copy of his report and try to see a physician on shore the next time the ship docks.
The most important thing to do as a victim of a cruise ship injury is to seek the assistance of an attorney with knowledge and experience of maritime law. Boyer Law Firm will be happy to assist you in these matters as we are fully equipped to handle these issues. The laws that generally governs cruise ships is maritime law, but cruise ships also have special maritime law that apply only to cruise ships. They can also be subject to laws of the United States, the state of Florida, and any applicable international treaties. Because there is such an array of laws applicable to cruise ships it is important to receive the assistance of an attorney that is able to navigate all applicable laws. Please contact us with any further questions.

Partnerships Think Before You Shake On It

Partnerships Think Before You Shake On It: A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business. While a partnership can be simple to establish and very lucrative, there are a couple of things you should know before you decide to “shake on it.”

Partnerships have their advantages, but the few disadvantages will make any person think twice. In a partnership business partners are jointly and individually liable for the actions of the other partners. In other words, if one business partner enters into a binding contract on behalf of the business, without the other business partners consent, all of the business partners are bound and responsible for that contract.

Partnerships Think Before You Shake On It

Therefore, one business partner’s yes, means yes by all business partners, consensual or not. This also means that partners are personally liable for all business debts and obligations, including court judgments. As a consequence, if the business itself can’t pay a creditor, such as a supplier, lender, or landlord, the creditor can legally come after any individual partner’s house, car, or other possessions.

Another disadvantage to a partnership is profit-sharing. Business partners must share the profits. Sharing the profits, should also equate to sharing the workload. Hence, having a trustworthy, dependable, contributable, and honest partner is one of the most important aspects of the partnership. In addition, a partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead, it “passes through” any profits or losses to its partners. Each business partner includes his or her share of the partnership’s income or loss on his or her tax return. So before you “shake on it,” and call it a deal contact Boyer Law Firm.

Since, decisions are shared in a partnership and disagreements can occur protect yourself and let Boyer Law Firm assist with drafting your partnership agreement or deciding what business entity is best for you and your future plans.

Avoid Piercing your Corporate Veil

Owning and maintaining a company can be a lot of work. It is important that you sit down with a lawyer from the beginning to lay a good foundation. Lack of a good foundation and proper maintenance can lead to bad news and financial worries not only for the corporation but also the shareholders. When a company is not built on a solid foundation the company opens the door for a creditor to pierce the corporate veil. “What is the corporate veil, you may ask?” The Corporate Veil is a legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company’s debts and other obligations. This protection is not indestructible, and destruction usually begins on the inside of the company.

To avoid such destruction it is important that the Company’s records, financial paperwork, and tax information remain current. It is very important to keep the Company’s personality separate from its shareholders. It is imperative to avoid co-mingling funds or improper conduct that could lead the court to find that the company’s business was not conducted in accordance with the provisions of corporate legislation. The Court may hold the shareholders liable for the company’s obligation if the creditor can prove the following:

(1) shareholder dominated and controlled corporation to such extent that corporation’s independent existence was in fact non-existent, and shareholder was alter-ego of corporation;
(2) corporate form must have been used for fraudulent or improper purpose; and
3) such fraudulent or improper use caused injury to claimant.

Avoid the worries, the time, and litigation, Boyer Law Firm is equipped to assist you. If you need assistance with filing your paperwork for incorporation, setting up your business finances, or preparing your tax information contact Boyer Law Firm.

Transferring Shares in a Corporation

Owning shares in a company represents an individual’s share of ownership in the company. Shares in a company or corporation can be transferred, assigned or sold between seller and buyer. Before the process of transferring can begin, it is important to determine the type of business entity shares will be transferred through. There are several types of business entities: corporations, limited liability companies and even partnerships. Each business entity differs in the type and number of shareholders in which a company or corporation is composed.

Transfer of shares varies with the type of business entity because each business entity would have their own operating agreement or shareholder agreement guiding the transfer of shares. Ideally, each corporation should have its own type of agreement. An operating agreement is a contract among the members or shareholders of a corporation outlining how to run the corporation whereas a shareholder agreement imposes restrictions on the sale of stock. If there is no shareholder agreement, a corporation must assign a realistic value to its shares. It is important to note that these agreements must conform to state corporation laws. It is important to preserve the tax status to be aware of the transferee’s (new shareholder or LLC member) immigration and/or incorporation status.

Once you have determined whether there are shareholder agreements, a purchase agreement can be drafted for the transfer or sale of shares. A purchase agreement outlines the terms and conditions of the transfer or sale of the share. The last step is to record such share transfers in the record books by updating the title on the share certificates and listing the changes in stock ownership. Boyer Law Firm is equipped to handle these type of situations whether it be drafting a share transfer agreement, or to preserve your tax status. Please contact Boyer Law Firm for more information.

Canadians Renting Property in Florida!

Working Canadians who buy property in Florida will most likely not be able to visit for more than a few weeks several times a year. To get the most of your investment, you will want to rent out the property. However, any income made from renting out property in the U.S. and payable to a resident of Canada is subject to a 30% withholding tax. The withholding tax is a means to avoiding tax evasion. If you rent out the property, the income from that rent will be collected by an agent. This agent who collects rent for a foreign owner is known as the withholding agent. The agent will be responsible for any tax which needs to be withheld. The advantage of the 30% withholding tax is that the Canadian owner does not have to file a U.S. tax return but he will not be able to deduct any expenses.

There are ways for Canadians to avoid the 30% withholding tax. They can file a U.S. tax return and choose to pay tax on net rental income. The Canadian resident can then receive a refund for any taxes withheld, so long as the withholding amount exceeds the tax payable. Boyer Law Firm has all the correct forms and procedures in order for you to have the taxes withheld.

If you are interested in renting your property in Florida, please contact Boyer Law Firm, as we will be happy to help you in your needs.