Due Diligence When Buying a Business in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney

Due Diligence When Buying a Business in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney
What does due diligence entail when buying a business? So, you’ve decided to take the plunge and purchase an existing business.  Congratulations! Before you sign anything, you have the opportunity to research the company to verify that it is a good investment. The generally accepted term for this type of research is due diligence. This is your chance to look... Read More

Judicial Dissolution of an LLC in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney

Judicial Dissolution of an LLC in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney
What happens if LLC Members cannot agree?  In Virginia, a Limited Liability Company (LLC), may be dissolved for many reasons, but when there are irreconcilable differences between or amongst owners (members), judicial intervention may be the only remedy.  A member may, in accordance with the operating agreement and articles of incorporation, petition a court of competent jurisdiction for dissolution.  In... Read More

Direct vs. Consequential Damages in Virginia Breach of Contract Litigation | Ryan C. Young | Richmond, Virginia Attorney

Direct vs. Consequential Damages in Virginia Breach of Contract Litigation | Ryan C. Young | Richmond, Virginia Attorney
Two Broad Categories of Damages in a Virginia Breach of Contract Lawsuit There are two broad categories of damages ex contractu: direct, or general, damages and consequential, or special, damages. Direct damages are those which arise “naturally” or “ordinarily” from a breach of contract; they are damages which, in the ordinary course of human experience, can be expected to result from a breach. Consequential damages are those which arise from the intervention of “special... Read More

Virginia Contract Litigation: Forum Selection Clause | Ryan C. Young | Richmond Litigation Attorney

Virginia Contract Litigation: Forum Selection Clause | Ryan C. Young | Richmond Litigation Attorney
What is a forum selection clause? A forum selection clause is used in a contract to designate the location, process, and/or court that will resolve any legal disputes that may arise between the parties named in the agreement.  These clauses range from very specific to extremely broad and all encompassing. A specific clause would indicate the type of court (state/federal)... Read More

What is Fiduciary Litigation? | Ryan C. Young | Richmond, Virginia Attorney

What is Fiduciary Litigation? | Ryan C. Young | Richmond, Virginia Attorney
What is a Fiduciary? A fiduciary is a person who has been entrusted with great confidence to manage and maintain the financial affairs of another party or parties. A fiduciary could be appointed through a Power of Attorney or a Will as a personal representative.  However, attorneys, financial institutions, corporate officers, and other such entities who are trusted to protect... Read More

What are the reasons that an LLC may be dissolved in Virginia? | Ryan C. Young | Richmond, Virginia Business Attorney

What are the reasons that an LLC may be dissolved in Virginia? | Ryan C. Young | Richmond, Virginia Business Attorney
In Virginia, an LLC may be dissolved for many reasons both voluntary and involuntary. Businesses come and go in a healthy economy, and Virginia’s Legislative Code (§§ 13.1-1048 – 13.1-1050) has provisions to make the dissolution of a business a relatively easy process in most cases. In the most amicable of situations, an LLC is concluded upon the completion of... Read More

Declaratory Judgments in Virginia | Ryan C. Young | Richmond, Virginia Litigation Attorney

Declaratory Judgments in Virginia | Ryan C. Young | Richmond, Virginia Litigation Attorney
What is a declaratory judgment? A declaratory judgment is a binding decision by a court defining the relationship between two litigants. What is the purpose of a declaratory judgment? In Virginia, declaratory judgments are meant to afford relief from uncertainty and insecurity between two parties. See Virginia Code § 8.01-191. Circuit Courts have the authority to issue declaratory judgments in... Read More

Virginia Business Dissolution: What happens when business co-owners can’t agree? | Ryan C. Young | Richmond, Virginia Attorney

Virginia Business Dissolution: What happens when business co-owners can’t agree? | Ryan C. Young | Richmond, Virginia Attorney
Virginia Business Litigation Attorney: When business partners can’t agree, what happens with the business? Note: In this article, I use the term “partner” and “partnership agreement” loosely. The rules governing each are slightly different. For example, dissolution of a general partnership will be slightly different than for a stock corporation. Business partnerships can go wrong for many reasons.  When you are in... Read More

Virginia Employee Law: Employee Duty of Loyalty to Employer | Ryan C. Young | Richmond, Virginia Business Attorney

Virginia Employee Law: Employee Duty of Loyalty to Employer | Ryan C. Young | Richmond, Virginia Business Attorney
Matthew 6:24: “No one can serve two masters.”* *I did not include the Bible verse above in an attempt to win converts. This verse (or at least the concept) has often been used by Virginia courts in the past when explaining the common law duty of loyalty that an employee owes to their employer. When a job applicant is searching for employment,... Read More

Non-Disparagement Clause in a Contract | Ryan C. Young | Civil Litigation and Contract Attorney in Richmond, Virginia

Non-Disparagement Clause in a Contract | Ryan C. Young | Civil Litigation and Contract Attorney in Richmond, Virginia
If you’re a party to any kind of contract in the state of Virginia, you’ll want to learn about non-disparagement clauses. These can appear in all kinds of contracts, and you may see one if you’re an employee or if you and another person are partners for any reason. Additionally, you may see this kind of clause if you receive... Read More