Congress Enacts M&A Broker But What About George Babbitt?

Those who made it to page 1,080 of H.R. 2617 (the "Consolidated Appropriations Act") will know that Congress has amended Section 15(b) of the Securities and Exchange Act of 1934 to exempt "M&A Brokers" from the requirement to register as brokers...

When Selling Partnership Interests May Require A Real Estate Broker's License

The definition of a "real estate broker" under the California Real Estate Law encompasses much more than simply selling real estate.   For example, Business & Professions Code Section 10131.3 defines a real estate broker as "a person who, for another...

For Want Of Real Estate License A Contract Is Voided

Yesterday, I discussed the confused characterization of the defendant in Carbon Crest, LLC v. Tencue Productions, LLC, 2022 U.S. Dist. LEXIS 66676. The case is nonetheless a good reminder that those who sell "business opportunities" fall within the...

Bill To Allow LLC Real Estate Broker's License Is Not Dead Yet

Nearly one year ago, I wrote that Assembly Member Tom Daly had introduced legislation that would allow limited liability companies to obtain a real estate license. Action on the bill stalled out last April and the bill would have died had it not...

Ulysses And Unlicensed Businesses

In the Cyclops chapter of James Joyce's Ulysses, the narrator explains to one Joe Hynes that he is now working as a debt collector, albeit without great success:

Applying The Statute Of Frauds To "Et Al."

Charles II, aka the "Merry Monarch", was sitting on the English throne when the original Statute of Frauds was enacted in 1677. Therefore, one should be forgiven for the mistaken presumption that all questions involving the application of the...

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