LLC agreement to adjust member financial contributions must be in writing

first_imgShare Facebook Twitter Google + LinkedIn Pinterest By Evin Bachelor, Law Fellow, Agricultural and Resource Law Program, Ohio State UniversityThe Ohio Fourth District Court of Appeals recently affirmed a decision finding a verbal agreement to adjust contributions between members of a Limited Liability Company (LLC) to be unenforceable, even if the other party admitted to making the statements. Ohio Revised Code § 1715.09(B) requires a signed writing in order to enforce a “promise by a member to contribute to the limited liability company,” and therefore the court could not enforce an oral agreement to adjust contributions.The Fourth District Court of Appeals heard the case of Gardner v. Paxton, which was originally filed in the Washington County Court of Common Pleas. The plaintiff, Mr. Gardener, argued that his business partner breached an agreement to share in LLC profits and losses equally. In order to share equally, both parties would have needed to adjust their contributions, but Mr. Paxton only made verbal offers that were never reduced to writing. Because there was no writing, Mr. Paxton’s statements were not enforceable by his business associate against him.last_img read more

Stop Buying What You Are Selling Yourself

first_imgYou are the very best salesperson in the world. As long as you are also the prospect to whom you are selling.Right now, your win ratio is 100 percent. You’ve never lost. Everything you have sold yourself, no matter how crazy, no matter how poorly it served you, no matter how great the cost, you bought lock, stock, and barrel.There was that time when you sold yourself the idea that nothing was your fault. You loved the idea that you were really a victim, and none of the poor results were of your own making. You sold yourself absolution, and you bought it—even though you paid for it with years of poor results.And then there was that time that you sold yourself the story that the circumstance of your birth were the reason you couldn’t do what you really wanted to do. You weren’t born to the right parents. Nor were you born on the right side of the tracks. No one has even heard of the place you grew up or the tiny school you went to, the one where it was impossible to make the right connections. This sale was so easy. You didn’t object once, even though you paid dearly.What about that whole list of identities you sold yourself? Remember when you sold yourself the idea that you aren’t a morning person, that it is impossible for you to get up in time to set your day up for success? You sold yourself the idea that you “can’t show up on time,” even though your habitual lateness has hurt your relationships.Then there are the sales you make each day. How many times have you sold yourself that tomorrow is the day you will start in earnest? How many times have you sold yourself the idea that there will be time for you to do what you need to do tomorrow, so that you didn’t have to do what most needs done today? Isn’t this the easiest sale to make? You buy it like you’ve never been burned by buying this before—and like you aren’t still being burned by it now.The better part of you knows that everything you are selling is bunk. That part of you knows that all these things that you have sold yourself are built on a foundation of lies and deception, self-deception.Stop selling yourself beliefs, ideas, stories, and excuses that don’t serve you. And when you do try to sell yourself these things, don’t buy them. Essential Reading! Get my first book: The Only Sale Guide You’ll Ever Need “The USA Today bestseller by the star sales speaker and author of The Sales Blog that reveals how all salespeople can attain huge sales success through strategies backed by extensive research and experience.” Buy Nowlast_img read more

Punjab Class XII pass percentage down

first_imgThe Punjab School Education Board (PSEB) Class XII results, which were declared on Saturday, saw a dip of 14 per cent in pass percentage as compared to last year. The overall pass percentage this year stood at 62.36 as compared to 76.77 in 2016. Moreover, the merit list of students in 14 districts out of the total 22 districts in the State remained less than the double-digit figure. A total of 3.14 lakh students had appeared in the exams, out of which 36,376 students failed as against over 16,000 last year. While 62,916 and 18,822 students got compartment and re-appear respectively, the cases of 380 students were withheld by the PSEB.Girls’ pass percentage The girls’ pass percentage stood at 72.59 as against boys’ 54.42, dropping sharply from 71.12 from last year’s result. Similarly, the girls’ pass percentage also saw a drop of 7.44 as against 84.03 recorded last year. About 37 per cent of students, who appeared for the examination, either failed or got reappear or compartment. Ashima Arora, student of RS Model Senior Secondary School, Ludhiana, topped the exams by scoring 98.44% marks. The second position was bagged by Prabhjot Joshi, student of BCM Senior Secondary school, Ludhiana with 98.22%. Riya, student of Tagore Centenary secondary school, Gurdaspur, with 98% secured the third position, an official said. Of the total 350 students in the merit list, the maximum — 139 — were from Ludhiana district. Many schools in 14 districts, including Muktsar, Fazilka, Mansa, Moga, Pathankot, Barnala, whose students were in the merit list, could not even cross the double digit pass percentage. The highest pass percentage of students in the State was in Gurdaspur at 76.14, followed by Amritsar district at 71.08. The lowest pass percentage was in Rup Nagar district at 53.53. Incidentally, Rup Nagar was the Assembly constituency of former Education Minister Daljit Singh Cheema in the SAD-BJP government. Notably, the overall pass percentage in 2014 and 2015 stood at 81.09 and 76.24, respectively.last_img read more

NRC wins consensus, but not Citizenship Bill

first_imgThere has been political consensus in Assam that an updated National Register of Citizens, as mandated by the Supreme Court, will help identification of Bangladeshi migrants, who are staying illegally in Assam after the midnight of March 24, 1971, and their expulsion in accordance with the Assam Accord. However, the actual number of illegal migrants in the State will not be known till the claims and objections of all those excluded in the final draft are settled by the NRC authorities.Migration after marriageThe verification of the NRC for the subsequent draft will also decide on the applications from 29 lakh women, who have submitted certificates issued by Gaon (gram panchayat) secretaries and executive magistrates to support their claim of residency after migration post-marriage. The Supreme Court allowed these documents after setting aside an order of the Gauhati High Court which declared these documents “invalid” and “ineffective in the process of the verification of claims for inclusion in NRC”.Also Read Congress seeks transparency on NRC revision process  The Supreme court, however, clarified: “The certificate issued by the G.P. secretary, by no means, is proof of citizenship. Such proof will come only if the link between the claimant and the legacy person (who has to be a citizen) is established. The certificate has to be verified at two stages. The first is the authenticity of the certificate itself; and the second is the authenticity of the contents thereof. The latter process of verification is bound to be an exhaustive process in the course of which the source of information of the facts and all other details recorded in the certificate will be ascertained after giving an opportunity to the holder of the certificate.”The publication of the first draft of the NRC came close on the heels of ruling coalition partner Asom Gana Parishad threatening to snap ties with the ruling BJP if the Centre pushed for passage of the Citizenship (Amendment) Bill, 2016 that seeks to grant citizenship to Hindu Bangladeshis, who have entered Assam illegally post-1971.All Opposition parties, including the Congress and the All India United Democratic Front, and student and youth organisations have opposed identification of illegal migrants on the basis of religion. They have demanded withdrawal of the Bill on the ground that if made into an Act, it would render the updated NRC and the entire process of updating the citizenship register infructuous.With the BJP pushing for passage of the Bill,the question of identification of foreigners in accordance with the Assam Accord may not be answered even after the final draft is published.last_img read more

DGCA gives clean chit to Baijayant Panda

first_imgFormer Biju Janata Dal MP Baijayant Panda, who was accused of flying a helicopter at low height over the ecologically sensitive Chilika Lake, has been given a clean chit by the Directorate-General of Civil Aviation.The DGCA found no violation of its rules and regulation. The Odisha police had requested the DGCA to conduct a technical probe into the case.“The DGCA had investigated the complaint of dangerous flying by helicopter over the Chilika Lake. On investigation it was found that one helicopter belonging to Indian Metals and Ferro Alloys Limited (IMFA) had flown non-stop cross-country from Bhubaneswar airport overflying Rajhans, Puri, Konark and finally landed at Garadpur. No other helicopter had flown over Rajhans on September 15 last,” says the report received by the Director of the Biju Patnaik International Airport, Bhubaneswar.Report sent to police The report has also been sent to the Odisha police. “Helicopter was airworthy and flight crew licences were current and have a reasonable experience on the type. No significant deviation in the flight plan timing and actual timing has been observed,” noted the report“Based on the fact and evidence, it could not be established that a helicopter had flown dangerously below the assigned altitude or had landed at the Chilika Lake. There was no violation of DGCA rules and regulations observed,” it added.Soon after the DGCA probe report, Mr. Panda took to Twitter, saying “total clean chit by DGCA on Odisha government’s cooked up case against me and my helicopter flying, and sealing a hangar at Biju Patnaik airport, Bhubaneswar, for the past 1.5 months, immobilising 3 choppers (including two against which there were no allegations whatsoever)!”The former MP, who had been suspended from BJD, was facing a police investigation for flying at low height over the Chilika which allegedly disturbed aquatic fauna. The Puri district police had also seized his hangar at the Biju Patnaik airport where three helicopters belonging IMFA, his family-controlled company, were kept.last_img read more