Firm Blog
The Gallagher Law Firm with offices in Lansing, Mt. Pleasant, Grand Rapids, and Detroit provides a variety of legal services across Michigan for corporate and individual clients. Our AV-rated, highly experienced attorneys offer responsive and efficient representation. Learn why our clients consider the Gallagher Law Firm to be a trusted, insightful and experienced partner for their legal needs.
Dissolution of a Corporation - Distributions to Shareholders
December 6th, 2015
One of our customers that owes us money sent me a notice that they are dissolving. Can the shareholders of the dissolving corporation take the assets of the corporation without paying us? A dissolving corporation is required to make adequate provisio…
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Categories: Business Law
Termination of Oil or Gas Interests in Land/Dormant Minerals Act
November 30th, 2015
(1) Any interest in oil or gas in any land owned by any person other than the owner of the surface, which has not been sold, leased, mortgaged, or transferred by instrument recorded in the register of deeds office for the county where that interest i…
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Categories: Real Estate Law
Covenant-Not-to-Compete or Non-Compete Agreement
November 22nd, 2015
A Covenant-Not-to-Compete or non-compete agreement is enforceable if it protects the employer’s reasonable competitive business interests and it is reasonable in duration, geographical scope, and line of business. A non-compete agreement protec…
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Categories: Business Law
Common Forms of Ownership of Real Estate
November 14th, 2015
There are three common forms of ownership of real estate by more than one person – tenants in common, joint tenants with full rights of survivorship and tenancy by the entireties. There are some other less common forms also. The type of ownership i…
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Categories: Real Estate Law
Joint ownership of motor vehicles - Don't!
October 26th, 2015
The owner of a car (or other motor vehicle) is liable for any injuries caused by the negligent operation of that car by anyone driving the vehicle with the owner’s consent or knowledge. Consent is presumed if a car is being driven by an immediate f…
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Categories: Insurance
Partition
October 19th, 2015
My sister and I own a house in Mt Pleasant, as tenant in common, and we have a disagreement over who should pay the real estate taxes and expenses. Can I force my sister to join me in selling the house? The remedy required is a law suit for partition…
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Categories: Real Estate Law
Stock vs Asset Sales
October 11th, 2015
Asset sales are more common than stock sales. The asset sale typically reduces purchaser expose to liabilities of the seller and increases tax deductions for the purchaser. In an asset sale the known and unknown liabilities of the selling corporation…
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Categories: Business Law
What is the highest interest rate I can charge?
October 5th, 2015
Most of the time the highest interest rate an individual can charge another individual is 5% per year if there is no written agreement such as a promissory note documenting the loan. The highest rate an individual can charge another individual is 7%…
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Categories: Banking/Credit Unions
Dower – is this really still the law in Michigan?
September 26th, 2015
By Michigan statute, the widow of every deceased person, shall be entitled to dower, or the use during her natural life, of 1/3 part of all the lands whereof her husband was seized of an estate of inheritance, at any time during the marriage, unless…
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Categories: Real Estate Law
Does our corporation have to have annual meetings?
September 22nd, 2015
Your corporation should have two types of meetings each year. A shareholder meeting and a director meeting. An annual meeting of shareholders for the election of directors and other business as provided by the corporation’s bylaw is required by Mic…
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Categories: Business Law