Laundry Leases: Exercising Your Option to Renew
The most important asset of your self-service laundry business is your lease. Washers and dryers produce little income in storage or in a parking lot. As you probably know, coin laundry operators are repeatedly advised to enter into long-term lease arrangements,...Some Advice on Giving Advice
A member of the Coin Laundry Association recently called me regarding an adverse ruling in small claims court, which resulted in a $770 judgment against the laundry owner. Apparently, an attendant employed by the owner assisted a customer – at the customer’s...Can a Shareholder be Liable for Corporate Debt?
Although the personal liability of shareholders is generally limited to their investment in a corporation, there are circumstances under which corporate protection from personal liability can be set aside by the courts. The basis for setting aside such protection is...Can a Shareholder be Liable for Corporate Debt?
Although the personal liability of shareholders is generally limited to their investment in a corporation, there are circumstances under which corporate protection from personal liability can be set aside by the courts. The basis for setting aside such protection is...Before Heading to the Junkyard
In a recent California case, a coin laundry operator took possession of a closed location, which contained a number of washers approximately 20 years old and cannibalized for parts over time. In assuming possession of the location, the coin laundry operator installed...
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