The answer to that question is: not on the date that an accountant/auditor submits a draft copy of a report that becomes the basis for the client's* malpractice claim against the accountant/auditor.
In Sirius XM Radio LLC v. Adeptus Partners, LLC (2025 NY Slip Op 34214(U), Index No....
In Hyros, Inc. v. Marcum, LLP, Index No. 653718/2023 the court upheld Marcum LLP's right to terminate its contractual relationship with its client pursuant to either of the two clauses in Marcum LLP's engagement letter: (i) "the right to terminate [the] services at any time" and (ii) [Marcum] "may resign from the...
On May 13, 2025, a New York court (Prager Metis CPAs LLC v. Koenig, Index No. 652000/2023) held that the non-compete/client non-solicitation clauses (often referred to as 'restrictive covenants') in a CPA firm's employment contract with its CPA employee were too broad (thus, unreasonable) and, therefore, granted summary judgment (without trial)...
Article published in the American Bar Association - Business Law Today
https://businesslawtoday.org/2024/02/understanding-the-basics-of-cap-table-math-in-start-ups
If a contract (particularly a Partnership Agreement or other similar contract, such as an Operating Agreement or a Shareholders Agreement) requires that a particular notice be delivered "by" or "from" the Partnership (or by LLC or the corporation, as the case may be), that notice must clearly identify that it is ...
One of the benefits of being owed money under a promissory note (and, when applicable, a personal guaranty(ee)), in contrast to being owed money under an ordinary contract, is that the lender can qualify for an expedited procedure for collecting the debt under CPLR 3213. To qualify for CPLR 3213, the instrument...
FinCEN's guide for small business entities' beneficial ownership reporting requirements.
In Daiwa Corporate Advisory LLC v. Katapult Group, Inc. (NY County Supreme Court, Index No. 652164/2021), the trial court held that a contract is enforceable where the fees payable were to be “mutually-agreed” based on “customary and . . . similar transactions and practices in the investment banking industry.”
