I have decided to go into partnership with one of my fellow workers, do I need a formal partnership agreement?
If you are going into a business partnership you should always have an agreement drawn up. The law governing partnerships of this type is pretty basic and as such you could be vulnerable should there be a dispute or disagreement with your partner.
I am setting up a company with some friends. Can I rely on the Articles of Association to govern how the Company works?
Typically, the relationships between individual shareholders, and between shareholders and the company itself, are governed by the Articles of Association. In many cases, it will be sufficient to rely solely on the Articles to regulate the affairs of the company with a shareholders agreement. However Disputes are regrettably all too common among business partners. Failure to have an agreed mechanism in place in this regard can easily be fatal to a business. Agreements allow the parties to set out exactly how, and by whom, any disputes are to be settled. Deadlock provisions are also highly useful in this regard. If shareholders become locked into an intractable dispute, having a method to allow one party to buy out the shareholding of another can be the only possible way to sustain a business as a going concern.
What is a joint venture?
A joint venture is when two or more business entities or individuals combine to access or grow a particular market or set up a new undertaking or project.
Pay Statement A Pay statement is a document that itemises how much an employee is paid. It shows total earnings for the pay period, deductions from the total, and net pay after deductions. it is a Jersey legal requirement
Restrictive Covenant A restrictive covenant is typically a clause in a contract which prohibits an employee from competing with his ex-employer for a certain period after the employee has left the business, or prevents the ex-employee from soliciting or dealing with customers of the business by using knowledge of those customers gained
When can I make an Application?
No later than the 5th day of the month preceding a Jersey Licensing Assembly, you must make your application for the grant of a licence and deliver it to the Treasurer of the States. No later than the 15th day of the month preceding that in which the applications will be considered by the Licensing Assembly, the Treasurer of the States provides all the details of the application to the Bailiff, the Judicial Greffier, the Minister, the Chief Architect of the States, the Chief Fire Officer, the Chief Public Health Inspector and the Constable of the Parish.
What is the criteria for grating a licence?
No licence shall be granted to any individual who has not resided in Jersey throughout the 3 years immediately preceding the date of the application for the licence, unless the Jersey Licensing Assembly is satisfied that the individual is a fit and proper person to have charge of licensed premises. A licence shall not be granted to more than one person. A person may be granted, in respect of the same premises, licences of such categories as the Jersey Licensing Assembly shall consider appropriate. Save in the case of a sixth category licence, a person may not be granted a licence or licences in respect of more than one set of premises.
When does the Licencing assembly sit?
There are 4 general sittings of the Jersey Licensing Assembly every year. They take place in March, June, September and December. It is also possible for the Licensing Assembly to hold an extraordinary session if it thinks fit to do so.
What is due diligence?
This is a “fact finding” exercise about a target business; its accounts, its employees, its clients, its assets and liabilities and other relevant issues related to the target company.
What are warranties?
A warranty is in general terms a legally binding assurance (either express or implied) that a fact is or will be true.
Back to Jersey Business Legal Services