Legal Question in Business Law in New York

If a vacant piece of land is owned by a 2 party LLC and one member keeps signing contracts without consent of the other what can they do? The land is for sale and the real estate co that this member signed with is terrible and I would like to put a large sign so that buyeres can see that its for sale there is a very small badly place sign now fro the real estate co. Can I sell this land without going through the real estate that He signed up with?


Asked on 7/22/10, 5:53 am

1 Answer from Attorneys
Paula McGill Paula McGill Attorney at Law

The LLC should have articles/bylaws and other agreements relating to the powers and authority of each person. If one person can bind the LLC, you have to comply with the agreement he signed with the real estate company.

If the other member refuses to comply the agreement or continues to act in a way that is detrimental to the LLC, you may want to dissolve the LLC. Again, look at the articles regarding dissolution. If you did not address powers or dissolution in your documents, the New York State articles will be your default.

Also licensed in New York.

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Answered on 7/22/10, 6:41 pm


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