Robert Penchuk
Atesa Legal PLLC
Phone pending
About Robert Penchuk
Please see our website at www.AtesaLegal.com to view the biographies for each of our attorneys.
This profile was compiled from publicly available information. Is this your profile? Claim it to add your bio, photo, and more.
Education
- Law School: Suffolk
Common questions about Business Law in Arizona
Answered by Arizona Attorney Search Network
Can I sue a former business partner in Arizona?
Yes. Disputes between business partners or LLC members commonly involve breach of fiduciary duty, breach of operating agreement or partnership agreement, accounting actions, dissolution, and derivative claims. ARS § 29-3110 (LLC fiduciary duties) and ARS Title 29, Chapter 5 (partnership) provide the substantive framework. Most business-divorce cases settle through buy-out negotiations; litigation can be expensive due to discovery into business records.
How long do business contracts have a statute of limitations in Arizona?
Written contracts: 6 years under ARS § 12-548. Oral contracts: 3 years under ARS § 12-543. UCC contracts for the sale of goods: 4 years under ARS § 47-2725. Open accounts: 3 years. The clock starts when the breach occurs (or, sometimes, when it's discovered). Acknowledging the debt or making partial payment can restart the clock under ARS § 12-508.
What's the difference between an LLC and a corporation in Arizona?
An LLC under ARS Title 29 (Arizona Limited Liability Company Act) offers liability protection with pass-through tax treatment by default and minimal corporate formalities. A corporation under ARS Title 10 has shareholders, directors, and officers, requires annual meetings and minutes, and is taxed as a separate entity (C-corp) unless an S-election is made. LLCs are generally preferred for small businesses; corporations are preferred when raising venture capital.