Curious Practices: Horse Trade Still Prospers In Suburban Valleys

May 2017

May 2017  

Michelle MacDonald SFVBJ
Champions: Michelle MacDonald at 
Gray·Duffy offices with photos of her racing stock.
Photo by Thomas Wasper
Curious Practices: Horse Trade Still Prospers in Suburban Valleys
Published in:
San Fernando Valley Business Journal

Attorney Michelle MacDonald was recently interviewed on her specialty equine law practice in the San Fernando Valley Business Journal’s Special Report: Law. 

An owner of seven race horses and licensed to race, Michelle explained, “Equine law is essentially general law except it involves horses. There is custom and practice, but really what I face in equine law is what a general practitioner would face in other areas of law.” 

She has handled horse cases involving employment contracts for ranchers, horse purchases and damaged fencing from a runaway steed.

Legalized Marijuana and Insurance Law

Published in:
ABA TIPS Insurance Coverage Litigation Committee Newsletter


Numerous laws and propositions have been passed surrounding the approved use of medical and recreational marijuana, as well as commercial manufacturing and sales. However, federal and certain state laws continue to conflict, leaving a gray area for lawyers counseling marijuana-related businesses.

This article examines legal ethics for lawyers practicing in the medical and recreational marijuana industries, and reviews recent insurance cases.

Issues That Cause Litigation In 
Business Buy/Sells

Published in: Automotive Buy Sell Report

One of the primary objectives of any transactional attorney, aside from getting the deal done for the client, which is a given for an experienced transactional attorney, is keeping the client out of litigation.  There are three basic types of buy/sell agreements and each has its own potential issues. The most frequent areas of litigation with respect to each, and how to prevent them, are different for each.

The most frequent source of buy/sell litigation is by far failure to have an agreement among multiple owners of a business. Splitting up is hard to do, which is why having an agreement that was carefully thought out, and drafted and signed when everyone is getting along and being agreeable, is ideal. If you can’t communicate well enough with your prospective partners to work out an owners’ agreement, you probably should not be partnering.  

So You Think You Know The Law

True or False?
If a contract states a buyer is not responsible for the liabilities of the seller, the buyer cannot be held liable for the seller’s liabilities.  

True or False? 
Failure to have an agreement among owners of a business, providing an unhappy owner the right to be bought out, is one of the most common causes of litigation among owners.
True or False? 
It is not necessary to spell out the terms of a potential sale or purchase of an ownership interest, or a procedure for determining terms, in an owners’ agreement, as long as there is a right to be bought out stated in the agreement.

Firm Announcements

Partner Timothy Thornton Selected as a 2017 Southern California 
Super Lawyer

Partner Timothy Thornton has been selected for inclusion on the 2017 Southern California Super Lawyers list for his work in the area of Insurance Coverage. Timothy has been named a Super Lawyer for five consecutive years.

Super Lawyers is a rating service of the top five percent of outstanding lawyers who have attained a high degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations and peer evaluations.

Gray·Duffy 
Negotiates Full Dismissal in Fire Subrogation Case

Richard Williams of

Gray·Duffy‘s Redwood City office represented Lawrence Road Apartments in Santa Clara, CA in a fire subrogation matter brought by Allstate Insurance Company.


Hear From Our Clients
“We were involved with a contractor dispute and

hired Gray·Duffy through our insurance company to represent us in litigation. The matter required numerous depositions and attorney Mike Eisenbaum was organized and relentless throughout the entire process. I appreciated the level of communication and open dialogue Mike provided, and was happy with the outcome. I have continued to utilize Mike and the Gray·Duffy team on additional work since the case.”

-Steve Crandal, Director, Prime Coatings Inc.

Webinar

Partner Erin Tenner continues her webinar series with Buy/Sell Basics Part III, discussing Stock Purchase Agreements, including:
  • When to consider purchasing stock instead of assets.
  • Tax issues in selling or buying capital stock.
  • Pros and cons of stock sale and purchase agreements. 
Listen to the webinar:

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Please Note: This article is necessarily general in nature and is not a substitute for legal advice with respect to any particular case. Readers should consult with an attorney before taking any action affecting their interests.