Partnership Agreements: What You Need To Know

BASICS A Partnership Agreement is an agreement between parties to provide for the terms of a business partnership between partners. Could be more than two. The agreement would typically govern capital contributions, management of the business venture, distribution of profits between partners and loss. NECESSITY I ALWAYS recommend and encourage clients to put any commitment in writing. Colloquially, "talk is cheap". However, when parties put commitments and promises in writing, then sign it, you have your evidence at the tip of your fingers. Although a valid contract may be oral, it is very challenging to prove. As a lawyer, I would happily...

25 October

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What happens when an employment contract gives less than ESA minimums and violates the Law?

Posted by Rana Charif

in Business Law, Employment Law, Litigation

When an employment is terminated, employees should be given a notice period that should follow guidelines in the Employment Standards Act of Ontario, or payment in lieu of notice that would be the equivalent of what would be paid under the notice period. Notice periods vary and they may be found in Part 15 of the Act. Under section 60 of that Act, the employer is mandated to continue paying the employee their normal wage rate as well as making any other benefit contributions until the end of the notice period. In other words, the terms or conditions of the...

27 July

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Legal Basics Buying a Franchise – Franchise Lawyer’s Role

Posted by Rana Charif

in Business Law

In Ontario, the sale and purchase of a franchise is governed by the Ontario provincial Statute Arthur Wishart Act (Franchise Disclosure), 2000, S.O. 2000, c. 3 - Bill 33 (the "Act"). The Act was drafted to ensure transparency between a Franchisor and a Franchisee. To protect the Franchisee, section 5(1) of the Act provides that a Franchisor must disclose and deliver all important facts relating to the franchise, financial statements, copies of all relevant agreements to be signed by the Franchisee, and any other statements that help in making the investment decision to the Franchisee at least 14 days before...

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Partnership Agreements: What You Need To Know

What happens when an employment contract gives less than ESA minimums and violates the Law?

Legal Basics Buying a Franchise – Franchise Lawyer’s Role