Understanding Seller Financing In this arrangement, a business seller offers financing for the acquisition of the company to the buyer. Rather than the buyer borrowing the full amount of the purchase price from a bank, the seller agrees to accept a promissory note for part of the purchase price with a specified interest rate and…
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A Look Into LegalShield, LegalZoom and Rocket Lawyer History, Mission, General Offerings of LegalShield, LegalZoom, and Rocket LawLegalShieldWhen Robert Shapiro, a California attorney who gained national fame as part of O.J. Simpson’s defense team, had the idea in 1970 to provide legal services through a subscription model, he reached out to lawyer James W. Cox.…
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What is the Doctrine of Preexisting Duty? The preexisting duty rule is a rule in contract law that states a promise cannot be enforced when one party has an existing duty to do what they are promising to do. Essentially, if party A already has a legal obligation to party B for a certain action…
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Defining Legal Godparents Godparents have traditionally been described as "someone who is given special status regarding the religious education of a child." Nowadays, the term "godparent" is often used to describe those people designated in a Will or Living Trust to be responsible for the care of a minor child if the parents cannot perform…
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What is a land lease contract? A Land Lease Contract is an agreement that is made between a landlord and a tenant for the use of land. These contracts are typically used by landowners to generate income from their land by allowing the tenant to use it for a specified period of time, in exchange…
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What Constitutes a Deductible Indemnity Agreement? Although not commonly used, a deductible indemnity agreement ("DIA"), also referred to as a deductible reimbursement agreement, is what it sounds like: an agreement by which the indemnitor agrees to pay the indemnified party’s deductible(s) up to a specified maximum amount. For example, if the indemnified party’s insured incurs…
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Texas Legal Separation Defined Texas has no law for "legal separation." You are either in a marriage or you are no longer married. In other states, there may be procedures to get legally separated but in Texas the law does not provide for such. You can either file for divorce or live together separately and…
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Overview of California Age Discrimination Laws California has several age discrimination laws. The FEHA is the most crucial for employees because unlike federal law, it protects even workers under 40 years of age from age discrimination. In California, the Department of Fair Employment and Housing (DFEH) is the state agency that investigates and brings FEHA…
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The Necessity of Confidential Information As with any document that contains potentially sensitive employee data, the contents of employee surveys must be kept strictly confidential. This is not only a good business practice, but a legal necessity as well. While most merit based employee policies require some kind of personal data collection for statistical analysis…
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What is the Florida Realtors Legal Hotline? The Florida Association of REALTORS®’ Legal Hotline provides realtors and brokers a direct, secure line to a professional attorney. Their goal is to answer straightforward questions, in a timely manner, to help real estate agents efficiently navigate the business of real estate. They are not your personal attorney…
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