Defining the Material Breach of a Contract
August 21, 2018When you enter into a contract for goods or services, you expect the other party to honor that contract in good faith. The other party’s unexpected breach, however, can significantly disrupt and stall your business plans and cause serious losses. To recover on a claim for breach of contract, the plaintiff must sa…
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Can There Be a Mandatory Buy-Out of an LLC Member?
August 20, 2018Majority shareholders of corporations can, in certain situations, force a buy-out of the minority’s shares, under A.R.S. § 10-1434. Not so for limited liability companies. A mandatory buy-out of a dissenting LLC member is not an option under Arizona law in virtually identical circumstances. Under A.R.S § 29-785…
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When Can a Corporation Force a Buy-out of a Dissenting Shareholder?
August 17, 2018In intra-company disputes, a shareholder can file a lawsuit seeking an involuntary judicial dissolution of the corporation. Under A.R.S. § 10-1430(B), a dissenting shareholder can bring an action for judicial dissolution if he or she believes that corporate assets or being wasted, misapplied, or diverted in a mann…
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