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A few different things go into determining whether or not a particular creditor will file a lawsuit. Find out what determines if a creditor will sue with help from an expert attorney in the Real Estate industry in this free video clip.
When it comes to a lawsuit settlement, a "grace period" is a term that describes a very specific thing. Find out about the grace period on a lawsuit settlement with help from an attorney in this free video clip.
You can sue an insurance company after an auto accident by following a few basic steps. Sue an insurance company after an auto accident with help from an attorney in this free video clip.
Option contract shares is a term with a very specific definition in the world of personal finance. Learn about the definition of option contract shares with help from a certified financial planner in this free video clip.
Only certain people have the legal authority to bind an LLC to a contract. Find out who has the authority to bind an LLC to a contract with help from a business consultant and marketing expert in this free video clip.
Legal malpractice insurance has some very specific requirements that you must meet. Learn about legal malpractice insurance requirements with help from a licensed attorney who specializes in financial information in this free video clip.
If you're in the process of backing out of a real estate contract there are a few specific things you need to keep in mind. Learn about the legal liability from backing out of a real estate contract with help from a real estate professional in this free video clip.
Breaching an employment contract can lead to legal remedies, such as actual damages and punitive judgments. Whether you are the employee or employer, breaking a written or implied agreement should not be attempted without the advice of an attorney. If you must breach your employment contract, it may be in your best interest to negotiate a mutual termination agreement with the other party.
A text message could seem harmless when sent casually, but if you're engaged in a civil lawsuit, your innocent text messages could be subpoenaed and entered as evidence for or against you. Depending on the state in which you live, a subpoena may not even be required to search and admit your text messages as evidence in a civil suit. Know your rights and how your text messages are used when you're locked in a civil battle in court.
Breaches of contract occur when one party to a legally binding contract does not provide a product or service to another party as agreed upon by the deadline specified in the contract. If a contract does not specify a time limit, the breach of contract occurs when the other party takes no steps to rectify his error. The wronged party can take steps to reclaim services, money and products owed to him through a court of law by suing the other party.
A sublet contract allows someone else to take over the lease of the original tenant. Write a sublet contract with help from a licensed attorney and licensed California real estate broker in this free video clip.
In California and other states, the statute of limitations to sue on a breach of contract varies by the type of agreement. The amount of monetary damages a person may seek to recover in a breach of contract lawsuit depends on the proof presented to the court. A plaintiff must back up any claim for monetary damages with documentation that the loss actually occurred.
To nullify a contract is to void, or terminate, it. Upon termination, neither party must perform the duties or services previously agreed upon. By taking the appropriate action and nullifying for the correct reasons, you and the other party, or parties, that made the contract are released from legal ramifications.
If you don't pay a debt you owe, a creditor may send you letters demanding payment, call you at home or sell your account to a collection agency. However, when a creditor doesn't receive payment through conventional methods, he may seek to recover the debt by attaching to a debtor's salary.
Buying a timeshare gives you access to a vacation property during specific times of the year. You might agree to purchase a timeshare after sitting through a 90-minute presentation and touring the actual property. Timeshares feature a host of amenities and present the opportunity to enjoy additional discounted vacations. But, regrettably, you might purchase a timeshare impulsively. Timeshare purchases have a rescission period, which lets you cancel the purchase without penalty. If this period has passed, you can employ other legal tactics to get out of the contract.
In general legal terms, there's no real distinction between a breach of contract and a default. Both terms represent a failure on the part of one of the parties to fulfill his contractual obligations. However, contracts are often drafted by providing specific definitions to words used in the contract that may differ from conventional, common usage. In those cases, "breach" and "default" may have differing meanings.
The Uniform Limited Partnership Act, which passed in 2001, was a resolution advising states to adopt uniform laws into their state codes or statutes. The idea was to make it easier to administer cross-border transactions and litigation between entities in different states. The rules to file a lawsuit against a uniform partnership are generally the same as that against other small businesses. In cases of uniform partnerships, the paperwork is filed with the Secretary of State's office, which can then act as the main contact for the organization. If you aim to file a lawsuit against a partnership, take certain…
A lawsuit settlement can potentially ruin your company. While not the most desirable course of action, filing for bankruptcy can protect your business from being sued. During the bankruptcy process, your business is granted an automatic stay which prevents any creditors from contacting you during the proceedings.
A verbal agreement is an oral promise made between two or more parties. The agreement binds each party to perform a duty or service. In New Jersey, most verbal agreements are legally binding if it contains certain elements. The party attempting to enforce the agreement must provide proof that an oral contract is in place.
A legally binding contract in North Carolina allows a wronged party to enforce the terms of a broken contract in court. A contract can take either verbal (oral) or written form and must be a promise, agreement, memorandum of understanding, lease, and settlement between two or more parties who agree to perform services for one another. Legally binding contracts only last as long as state time limitations before which a wronged party must take an action to enforce a contract.
If you are involved in an automobile accident due to another driver’s negligence, you have the legal right to recover damages for your expenses. Negligence is the failure to use reasonable care, like failing to stop at a red light or traveling at an unsafe speed. Expenses following an accident can include property damage, medical bills if you suffer an injury, and loss of wages if you are unable to return to work. Some states allow you to recover compensation for your injuries even if you were partially at fault, though most states require your own carelessness to have been…
In any type of business arrangement, contracts and written agreements are often required to set forth the terms of a working relationship between an employer and employee, or between a business and contractors hired on behalf of the business. A breach of contract occurs when one or more parties subject to the terms of a specific contract fails to abide by those terms. A breached contract results in nullifying the original agreement and often requires that a notice of breach of contract be sent to the offending party.
Certain Florida commercial laws pertaining to agreement breaches can alter what the winning party is entitled to. A breach of contract is a violation of trust and expectations. Many business deals depend on the parties trusting each other to some extent. Contracts are used to clearly define the responsibilities of the parties involved. They are breached when a party does not follow through with their end of the bargain.
To enter into a binding contract, each party must understand their rights and responsibilities; each must give consideration or a thing of value and both must assent to the terms of the agreement. There is no required time limit or standard federal law governing the timing of contract validity. Each state can implement its own contract laws. In most states, written contracts become binding when signed and oral contracts become binding with specific performance.
Most employers rely on payroll departments to compensate their employees. However, the payroll department sometimes makes mistakes, which may result in an overpayment to one or more employees. If you receive an overpayment from your employer, you must typically repay him. If you don't repay the overage, he may be able to sue you.
When you are seeking legal advice, the best place to turn is to a licensed attorney in your state. Hiring an attorney can help you avoid expensive problems down the line. That said, you don't need a lawyer to make a legally binding contract. A contract is simply a legally enforceable promise. Some promises don't even have to be in writing for a court to enforce them.
Individuals or entities enter into contracts for everything from services to the purchase of items, such as a home or car. When two or more people enter into an agreement it is potentially binding and enforceable by law. Although contracts are hardly uncommon, it's important to understand what types of contracts are legally binding and what types are not.
A contract is a legally binding and enforceable agreement between two or more parties. A legally recognized breach occurs when a party to the agreement did not comply with the terms and provisions of the contract. A party damaged by a breach can turn to the courts for a remedy or to seek compensation. State statutes and case law regulate such legal actions in Pennsylvania.
In Maine, the law generally provides a six-year statute of limitations to file a breach of contract complaint. This is valuable information to both individuals and businesses residing in Maine, as there are a number of contracts frequently encountered in the course of commonplace business activities. For instance, Maine law requires a written contract for all home and structural improvement projects in excess of $3,000. In addition to written contracts, individuals and organizations may also find it necessary to sign a promissory note or enter into an oral agreement.
Firing an acting agent is often necessary when auditions and employment are not forthcoming. If, and when, you decide to terminate the representation relationship with your acting agent, this should always be done in writing so that there is a paper trail demonstrating the end of the agent-talent relationship. Termination letters should be simple and straightforward, as you only need to convey that you are firing your agent and the date on which the termination is effective, unless the representation agreement provides otherwise.
A teaching contract is a written agreement signed by a teacher and school district. A strong contract contains a job offer, acceptance, and an outline of what is expected of both parties. Contract use varies by state and school district. In fact, some school districts do not require teachers to sign a contract at all. Whether or not your teaching contract protects you from termination depends upon a number of factors.
If you win a lawsuit against someone and he is required to pay you damages, the court may force him to sell his assets, including his home, to pay you. You may wonder, though, if you can collect from an individual whose assets are in a trust. In most cases, whether or not you can seize the individual's assets depends on the type of trust he has created.
When you work for an employer, your rights to the money you earn are contained in your working agreement and are also protected by the U.S. Department of Labor. When an employer terminates you for breach of contract, you should understand what rights you have and what to do if your employer decides not to pay you.
A landlord is not limited to evicting a tenant for not paying rent. Several other eviction causes, such as breach of contract, exist for removing a problematic tenant from your home. A tenant breaches his lease contract by violating one or more lease clauses, such as ignoring quiet hours, adding pets to a pet-free home and/or allowing unauthorized guests to stay beyond a lease-specified length of time.
When you rent an apartment, you can either sign a written lease or agree to a verbal lease, also known as an oral lease. A written lease spells out the terms of your tenancy more clearly and can serve as proof of the agreement in court. A verbal lease results in a loose arrangement, which is beneficial if you suddenly have to move out earlier than expected. You can break this lease more easily than if you had signed a written lease.
When you work as an employee for someone else, you run the risk of being terminated or demoted at some point. If you are demoted without notice, you could be frustrated because this often leads to a cut in pay or fewer work hours. Depending on the arrangement you have with your employer, there might be nothing you can do about it.
Failing to repay a debt doesn't make it go away. If a creditor is intent on collecting, it may choose to seek a judgment against you in civil court. If the creditor wins, it may be able to attach your wages or bank account to satisfy the debt. If you're concerned that you may be sued for an unpaid debt, learn how a creditor lawsuit works and how you can protect yourself and your assets.
An annuity is an investment tool many people choose because it allows them to invest money now, defer taxes and later -- after retirement, for instance -- receive regular payments from the annuity. You may decide to pull your money out early, though. Many people who contemplate doing this worry they will be sued for breach of contract.
A car sale contract passes ownership of the car from seller to buyer. The contract can be drafted and signed by the buyer and seller without a lawyer or notary present. However, witnesses to the contract’s signing might make the contract’s validity easier to prove, in the event that either party decides to take the other to court over the car sale. The moment the car is delivered to the buyer is the moment the contract becomes legally binding – once the car is delivered, neither party can back out of the contract without the threat of legal repercussions, such…
Buying an item and agreeing to finance the purchase creates a contract between you and the seller. This contract might outline the number of payments and the payment amount. Sellers depend on you to make timely payments, but if you fall behind or stop paying, this can trigger financial and legal consequences.
Most lawsuits cannot continue when the person being sued files for bankruptcy protection. If you are seeking financial restitution, you can find out if you should be classified as a creditor in the bankruptcy. Understanding your rights as a potential creditor in the bankruptcy is imperative. Depending on the basis of your claim, you may be entitled to receive payment during the bankruptcy or the debt could be ultimately discharged by the bankruptcy court.
A significant difference between an employment contract and an at-will employment agreement is that an employment contract is by design and at-will employment is by default. They also differ in terms of the timing of the employment relationship. It could take 30 days or longer to get out of an employment contract; employment at-will means the working relationship could end in 30 seconds or less.
All states but Montana operate under at-will employment agreements. What this means is your employer can change your benefits, your work status or anything else about your job at-will without notifying you. This works the other way as well. When you decide to quit, your employer has to accept your resignation without retaliation.
A foreclosure auction does not necessarily mean the home is sold. The redemption period after a foreclosure grants homeowners a final chance to save their homes by paying the loan balance plus all fees. Until the redemption period expires, ownership remains the same. A landlord can rent out a home in foreclosure at any stage of the process.
While it is not required, many companies and organizations often sign employment contracts with new employees. Both full-time and part-time employees may be required to sign employment contracts to ensure they adhere to specified obligations along with basic policies set forth by the employer.
A note represents an amount of money that one person promises to pay another person according to a set schedule. The person promising to pay is the maker of the note; the person promised the payment is the payee. Discounting a note occurs when a third party purchases the note for a price less than the full maturity value listed on the note.
A small claims judgment can have a negative impact on your credit report. In addition, the plaintiff, or person holding the judgment, may obtain an order to garnish your wages or pursue other means to enforce the judgment. If you have additional debt that you do not reasonably foresee the ability to repay, filing bankruptcy may be an option. In most cases, a successful discharge in bankruptcy will wipe out a small claims judgment.
The IRS recognizes siblings as qualifying children for tax purposes as long as they meet certain income limitations and either age or disability status requirements. Adult siblings can only be claimed when a doctor deems them totally and permanently disabled and when you can show that you provide more than half of their annual support. The Social Security department only pays Supplemental Security Income to disabled children and adults; thus, a sibling who receives SSI would automatically meet the disability status requirements.
Both managers of an LLC and trustee have a responsibility to their organizations, known as a fiduciary duty. A person can serve in both posts without conflict, unless the two organizations interact with each other. In that case, the individual will have to proactively adjust his responsibilities so as to avoid opening himself up to suit from both the LLC and trust.
When you are entitled to a lawsuit settlement, you could stand to receive a large lump sum of money or regular payments. Regardless of the type of payout you get, you may face some tax consequences on the money you receive. Before agreeing to a settlement, it may help to understand which parts could be taxed.
