Legal Question in Business Law in New York

Should I cross out language from my investment house that says I agree to a choice of law (New York) when I'm in Maryland and have retitled my assets and placed them in a trust and the investment house also wants me to represent that I understand both the Operating Agreement for the trust and the Governing Law? I am not an attorney nor do I understand neither New York nor Maryland laws. Should I cross this language out? Is there any conflict for the company trying to force me to lie in this respect? I feel like I have little leverage even if I am a patron.


Asked on 1/02/14, 9:09 pm

2 Answers from Attorneys

Frank Natoli Natoli-Legal, LLC

What are talking about here exactly? What kind of contact is this? What makes you think you can modify the contract anyway you like and that they have to accept it? It is your burden then to hire a lawyer to review and advise if you do not understand and no one can force you to sign anything. If you are uncomfortable with the terms, don't sign them.

You need to consult a lawyer in private if this is important to you.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

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Answered on 1/03/14, 7:56 am
Walter LeVine Walter D. LeVine, Esq.

Most contracts contain a choice of law or governing law clause, and the law used is traditionally the law where one party is located, usually the more dominant party. In your case the investment house is probably located in NY and wants your agreement to be covered by laws with which they are most familiar. The clause has no relationship to where a party is located so using even a law where neither party is located can be used. This is not a fraud, but merely a way to determine what state's law should control any dispute. Feel unsure, have the document reviewed by an attorney familiar with the laws of NY.

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Answered on 1/03/14, 3:50 pm


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