Tag Archives: business practices

The End… of Your Business Partnership

Tracy A. Cinocca Posted on by

The End …. of Your Business Partnership Breaking up is hard to do. Like marriages, business relationships sometimes break up. When ending a business relationship there are several questions you will need to answer: 1. What type of business is it? How is it formed with the Oklahoma Secretary of State? Or, is it a a partnership? Limited or General? ex: Limited Liability Company (LLC); C Corporation; Sub Chapter S Corporation; Partnership; Limited Partnership, Etc. 2. Do you have a written agreement or formation document? -If YES: Review that agreement with an attorney and make a plan for how to proceed. -If NO: There may be default statutes in place that effect your type of business organization on how to handle a break up. 3. Do all parties agree with the accounting, and is it up to date? -If NO: A plan to do this is required. 4. Is your business breakup amicable? -If … Continue reading →

Understanding and Developing an Employee Handbook

Tracy A. Cinocca Posted on by

Employee Handbook “Oklahoma jurisprudence recognizes that an employee handbook may form the basis of an implied contract between an employer and its employees if four traditional contract requirements exist: 1) competent parties, 2) consent, 3) a legal object, and 4) consideration. Oklahoma case law has established two limitations on the scope of implied contracts through an employee handbook: First, the manual only alters the at-will relationship with respect to accrued benefits. Two, the promises in the employee manual must be in definite terms, not in the form of vague assurances.” “… [I]n order to create an implied contract, the promises must be definite. Courts must distinguish between carefully developed employer representations upon which an employee may justifiably rely, and general platitudes, vague assurances, praise, and indefinite promises of permanent continued employment. Only when the promises are definite and, thus, of the sort which may be reasonably or justifiably relied on … Continue reading →

Employment Agreements Explained

Tracy A. Cinocca Posted on by

Employment Agreements Explained Confusion tends to exist among people about what constitutes an agreement. An agreement does not necessarily have to be in writing. It can also be oral. However, in the employment context, most employment relationships are not based on a written contract. An employee can be hired and fired at-will for any reason in this state that does not violate discrimination, retaliation or other similar statutes. “Under the American common-law rule, when the length of the master/servant relationship is unspecified by contract, either the employer or employee can terminate the employment without liability.” Without a written agreement specifying otherwise, employment can be terminated by either party at any time. In some states, this doctrine has been modified by exceptions that restrict the grounds for termination. The exceptions generally rest on three distinct theories: (a) Public policy tort, (b) Tortious breach of an implied covenant of good faith and fair dealing … Continue reading →