AuthorJohn Barney and Tom Boylan provide the latest updates on the law. ArchivesCategories |
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A stockholder agreement is an agreement between stockholders of a small company as to how the company is to be run, and can also contain important provisions regarding how disputes are to be resolved within the business between stockholders. These types of agreements are important to a business because, despite the best intentions of business partners, disputes between parters can and do arise. It is better to be safe and make sure that there are provisions for handling such disputes. Barney & Boylan can help businesses with these types of agreements and advise companies on the best way to structure their affairs.
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A bill was introduced on February 5th in the Tennessee House by adding a malice requirement when imposing penalties on those filing fraudulent construction liens on real property, while protecting those who make a good faith claim to a lien, but the lien is somehow erroneous or deficient. In other words, if this bill were to pass, contractors would not be subject to liability for filing a mechanic's lien on real property for unpaid construction work that is technically incorrect, unless they intentionally filed an incorrect, or invalid, lien on the property.
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In a unanimous opinion, the Tennessee Supreme Court has held that the attorney-client privilege protection applies between a business’s attorneys and a third party when the third party acts as the "functional equivalent" of an employee and when the communications relate to the attorney’s representation of the business and were intended to be confidential. The court's decision referred to the fact that it is increasingly common for businesses to use outside consultants and other independent contractors.
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