A Limited Liability Company (LLC) is an advantageous business structure as it comes with several benefits for business owners. For starters, LLCs provide a veil of protection that keeps business assets separate from their owner’s assets in unfortunate situations such as litigation or incurring debt. Also, when set up correctly, LLCs have Operating Agreements that outline how the business should be managed. However, choosing to run your business as an LLC is not a one size fits all solution to solving all your problems. Here are some myths you may have heard about LLCs.
What does it mean to pierce the corporate veil?
The term refers to the veil of protection that keeps businesses operating as corporations, partnerships, or limited liability companies (LLC) separate from their owners and shareholders. These principles and statues are present
On Thanksgiving, Facebook user Sharon Weiss set the internet on fire after a social media post about her Marie Callender pie. She posted a photo of her badly burned pie to Marie Callender’s Facebook page with the caption, “Thanks Marie Callender for ruining Thanksgiving dessert.” Many Facebook users determined Sharon was at fault for not following the directions printed on the back of the box. The incident led to lots of memes and social media commentary. There is even a Facebook group with more than 100,000 users posting memes and sharing their encounters with the "Sharons" in their life. This begs the question from a legal perspective: who is actually to blame?
This month, there will be an increase in cars on the road due to parties, events, and family visits. There will also be an increase in trucks and commercial vehicles making deliveries for the holiday season. This means that there will be an increase in car and truck accidents. The National Highway Traffic Safety Administration conducted research from 1982 to 2018 and found that due to increased travel time, more alcohol use, and excessive driving speed, there are more fatal car accidents during the holidays compared to other times of the year. You can prevent a car accident and keep you and your family safe with these tips:
Laws are designed to protect citizens and keep them safe. This holiday season, we are reminded of laws that keep us safe.
Florida’s Personal Injury Protection (PIP) § 627.736
Florida is one of several states that require PIP insurance coverage. Florida requires drivers to have a minimum of $10,000 in PIP coverage. With this coverage, if you are involved in an accident, your own insurance company pays 80% of your medical bills and 60% of your lost wages-regardless of who is at-fault in the accident. This law is beneficial because it helps to reduce payment delays for those involved in car accidents. PIP also covers ambulance fees, funeral costs, and reimbursement for prescriptions. Family members that live at the same address can be covered too if they do not have their own PIP insurance coverage.
Duty to give information and render aid Florida Statutes §316.062
In Florida, drivers involved in a car accident where a person is injured, deceased, or property has been damaged must give their name, address, and vehicle registration to parties involved in the collision. This law ensures that drivers do not leave the scene of an accident, but are held accountable for their role in the accident. If a driver does leave the scene of an accident, he or she may be held criminally responsible.
Red Light Cameras
If you are caught running a red light, it can be annoying. However, red light cameras can provide a bird’s eye view of what occurred during a car accident. Red light cameras discourage speeding and have reduced car accident fatalities in some large cities. An Insurance Institute for Highway Safety study found that cameras reduced the fatal red light running crash rate of large cities by 21 percent and the rate of all types of fatal crashes at signalized intersections by 14 percent.
Trial by Jury
Thomas Jefferson is quoted as saying, “I consider trial by jury as the only anchor ever yet imagined by man, by which a government can be held to the principles of its constitution.” The 7th Amendment of the United States Constitution gives those involved in civil cases with a value of more than $20 the right to be judged by a jury of their peers. This eliminated the possible bias a judge may have against a plaintiff or defendant.
Business Owners: For what you must know before signing a contract, watch this short video>> 3 Things To Keep In Mind Before You Sign Your Next Contract
For more information on Florida Nuisance Laws, visit our blog>>Here's what you need to know about nuisance neighbors