Contract & Business

On July 12, 2022, Twitter officially filed its lawsuit against Elon Musk in the Court of Chancery of the State of Delaware. The Case number is: 2022-0613. The 62-page long Verified Complaint paints Musk as a reckless, irresponsible person who has casually trashed Twitter seriously affecting its stock price and value. The Complaint also accuses Musk of wanting out of the Twitter deal not because…

A Charging Order is an Order from a competent court in Florida entitling a Creditor to collect a judgment on the interest of a debtor in a Limited Liability Company (LLC) Imagine you won a lawsuit and have a $200,000 judgment in your hands. Oftentimes, the defendant—the one against whom you prevailed in your lawsuit—won’t just hand you a check or zelle you $200,000 to…

Ayala is happy to announce that it has obtained a Part II Money Transmitter license for its client, a Florida corporation. A Money Transmitter license “authorizes the holder to transmit currency, monetary value, or payment instruments, either by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businesses that facilitate such transfer, within this country or to or from locations…

Ayala is Proud to Announce that Orestes Garcia has Joined the Ayala Team as Legal Clerk Orestes is a law clerk for the firm. Orestes was born and raised in Miami, Florida to Cuban parents. He attended Belen Jesuit Preparatory School for high school and graduated in 2017. He went on to graduate from FIU Honors College in three years and earned a Bachelor of…

Imagine you own a joint account in your name and in the name of a business partner. Tragically, your partner passes away and you remain the only alive member of that joint account. The Bank Account agreement does not state anything regarding what happens when one of the members of the account dies. What is then your status? Does the remaining balance belong to you,…

  By: Sophie Polenghi Last week, we celebrated another Ayala Anniversary, marking 9 years since the office opening back in 2013. We interviewed founder of Ayala Eduardo Maura and asked him questions on the journey of Ayala thus far and what to expect to come in the future. Question 1:   When you first started Ayala back in 2013, did you think you would be…

By: Eduardo Ayala Ayala is proud to announce that it has prevailed in a bench trial in a case that the firm undertook pro bono. In the case, Plaintiff sued his former attorney (the defendant) for breach of contract. Plaintiff sought hundreds of thousands of dollars in speculative damages on a contract where he merely paid a couple of thousand dollars. Though Plaintiff was able…

By Ryan Sawal I. What is a Viatical Settlement Transaction? Viatical Settlement transactions (or life settlement transactions) are transactions between a company or individual known as a “viatical settlement provider” and the owner of a life insurance policy known as a “viator.” A viatical settlement transaction allows the policy holder to reap a portion of the policy’s amount in exchange for the ultimate benefits of…

A Breach of Contract means a failure of a party to perform or fulfill its obligations under the contractual agreement. The contract if properly negotiated and executed, is binding on the parties and will be enforceable in court. A breach of contract occurs when one or more parties involved in a contract do not honor the binding agreement in a material way. Material means important—an…