MC Law Blog

What Business Owners Should Consider When Writing Partnership Agreements

Posted July 25, 2016 MC Attorneys

What business owners should consider when writing partnership agreements When drafting partnership agreements, partners should weigh each person’s role, viable exit strategies, worst-case contingencies and an attorney’s advice. Forming a business partnership can offer many advantages for entrepreneurs in Phoenix, including cost savings and collaboration. However, it can also introduce the potential for conflict. Partnership… Read more

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Mechanic’s Liens are a Key Component of Arizona Construction Projects

Posted June 24, 2016 MC Attorneys

Mechanic’s Liens are a Key Component of Arizona Construction Projects On behalf of Richard Murphy at Murphy Cordier PLC A mechanic’s lien protects the right to payment for construction services, materials, equipment and labor. Arizona’s mechanic’s lien laws (A.R.S. § 33-981 et seq.) provide a measure of protection to those who furnish professional services, labor,… Read more

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General partner was not automatically removed from limited partnership

Posted May 24, 2016 MC Attorneys

General partner was not automatically removed from limited partnership In the case of TP Racing, L.L.L.P. v. Simms, the Arizona Court of Appeals, Division One, ruled that the removal of a general partner from a limited partnership was not automatically required under Arizona’s Limited Partnership Act. That statute provides that a general partner must be… Read more

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Fiduciary duties owed between members of a limited liability company

Posted April 24, 2016 MC Attorneys

Fiduciary duties owed between members of a limited liability company Arizona law governing partnerships imposes fiduciary obligations between the partners, and similar provisions exist under corporate law regarding fiduciary duties imposed upon directors of closely held corporations in their dealing with shareholders. In the case of TM2008 Investments, Inc. v. Procon Capital Corp., the Arizona… Read more

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