Category «General Article»

Four Types of Business Law

Every form of business operates under a legal structure governed by the rule of law. Regulations are meant to ensure that business practices are carried out within the confines of the law. In the various transactions of a business, there are also laws that monitor and outline the mode of operation, and that is why it is prudent for an organization to have a business attorney that will ensure adhering of all state and federal regulations. Also, contractual agreements with other parties are to avoid possible future conflicts. When deciding to establish a business, you need to consider the type of venture you want to operate and the business transaction law Manchester NH therein.

TYPES OF LEGAL STRUCTURES

  1. SOLE PROPRIETORSHIP

This structure of business is the least regulated due to its small capacity, thus, the legal start-up costs are minimal. In this type of business one person owns and operates the company and the owner registers their name to get a local license of operation. The profits and incomes form the venture are taxed as personal income. The disadvantage of this form of business is the unlimited personal liability that is to mean, the owner can never detach themselves from any losses arising from business operations, and they are liable for any financial debts.

  1. PARTNERSHIP

This kind of two or more parties come together to own and operate a business. There are two forms of alliances, general partnerships; where the partners who manage the business assume the responsibility of debts and other legal duties arising from the operations of the market. The other type is a limited partnership who are those parties in the organization that act as investors only. Their liability is limited which means their business operations do not affect their assets.

  1. LIMITED LIABILITY COMPANY

This type of business operates like combination of a sole proprietorship and a partnership it is a legal entity on itself. Meaning, the members of such a corporation have their assets protected in case of losses arising from the business, and on the other hand, they enjoy their profits and incomes from the venture which are taxed as personal incomes. The legal requirement for such an investment is, the members to establish an Operating Agreement which would outline the sharing of profits and losses and any other type of internal arrangements.

  1. CORPORATION

A corporation is a large organization or group of companies that has the legal capacity to operate as separate entity distinct from its owners and is guided by a team of officers known as a board of directors. The shareholders of corporations have a limited liability meaning, they are entitled to participate in earnings through dividends, but they are not held personally responsible for the company’s debts.

According to the taxation law, corporations are supposed to file form 1120 with the IRS every end of the year at December 31, with the salaries paid to the shareholders who are the employees being deducted, but the dividends are not deductible.

6 Pitfalls of Under-Insured Commercial Endeavors


Not paying attention to details, or trying to save money can lead to some real pitfalls in not having the insurance coverage that is needed. Below are six of the more common areas that financially hurt a business without the right insurance coverage.

Unexpected Damage and Loss from Uncovered Natural Disaster

Severe storm damage, earthquakes, and flooding might be extreme circumstances, but they happen and can leave a company in ruins when not adequately covered by an insurance policy. You need to sit down with an agent and explore what some of the real risks are when it comes to natural disasters. Find out what is covered in each type of policy and the best additions to get to make sure you are covered under most circumstances.

Major Equipment or Building Failure

Experiencing unplanned stops, or gaps in work can limit your financial resources. The failure of equipment and buildings can shut you down completely for a period of time. You will greatly benefit from having a policy that covers business interruptions. It will provide you the cash flow needed to stay afloat until repairs are made.

Serious Injury to an Employee or Customer

Accidental injury can happen to anyone that visits your business. One major lawsuit can close the doors of a smaller company. Make sure you have coverage that will help pay any legal fees and damage awards.

Product Liability

Serious injury or death that results from a product or service your company provides can also lead to a serious lawsuit. There are insurance policies that can protect your company from legal actions taken against defective products.

Vehicle Accidents with Uninsured and Under-Insured Motorists

The need to use commercial vehicles to offer services or transport merchandise can leave you open to accidents on the road. basic liability is a must to have to operate legally on the road, but collisions and comprehensive will guard your equipment against loss. You should also take the additional step of protecting your vehicle and merchandise from motorists that do not carry adequate amounts of insurance to cover the loss.

Any Policy Lapses

Make sure all insurance policies are paid timely and have not lapsed. It can be financially devastating to find that you need the coverage and the policy has expired or lapsed days ago.

Contact an expert commercial insurance company in Florida like Fearnow Insurance and get quotes for the products you need right away!

All that you need to know about accident & personal injuries explained

No matter how careful you are on the road, whether you are driving, or you just happen to be a passenger, you are always prone to injuries thanks to a negligent driver. Nevertheless, the fact that these incidences are common especially in Covington KY, does not mean that you bear with all the hospital bills, emotional trauma due to loss of a loved one or life-changing injuries as you can always pursue a personal injury case and get compensation.

Unfortunately, most people consider accident & personal injuries murky waters because they have no idea where to start or seek help. In respect to that, most of them do not always seek legal action against the negligent party hence end up being stuck with thousands of dollars in medical bills, lost wages and on top of it all the physical and emotional trauma.
Fortunately, this article seeks to explain the A to Z of a personal injury case because the more elite you are about the matter, the smoother the transition will be. Look below

What is a personal injury case?

Commonly referred to as tort law, it refers to a law which allows someone who gets injured due to someone else’s action or inaction to seek for legal compensation for the financial and non-financial damages that were because of the incident. Financial damages refer to the ones that are quantifiable such as the medical bills or a lost source of income. In other words, they can be calculated and pointed out to the jury easily. While non-financial refer to the non-quantifiable because they cannot be calculated. For instance, the emotional suffering or pain which one might have gone through after the incident.

How do I know my case is qualified as a personal injury?

As mentioned earlier, this is one of the most complicated areas of the law and as such, there are plenty of myths and misconceptions flying all over the place. For instance, it is common to hear someone say that a minor injury does not warrant any compensation and as such you cannot file a case. However, that is just a misconception which people have developed to prevent others from seeking the legal help they deserve. So how do you know your case qualifies? You do not need to do any kind of guesswork because seeking help from a professional car accident attorney Covington KY will ensure that you are in the know as he/she boasts extensive knowledge in this field and has also dealt with a diverse array of accident & personal injury cases to know whether yours qualifies or not.

Stages of a personal injury case

Note, the following are the steps which follow the incident occurs and you’ve already received the required medical attention

– Meeting with the attorney is often the first step so you can learn what your chances of winning the lawsuit are and also, so you can hand out the relevant information. All the next steps take place with the help of this lawyer.
– Investigation of the claim and the medical records
– Filing an insurance claim
– Filing a lawsuit
– Discovery or fact-finding process
– Mediation or resolutions where both parties try and come to a consensus before the trial
– If mediation does not work then the trial starts.

In a nutshell

The process of seeking compensation in Covington KY is not as daunting as people try to make it. All you need to do is seek help from a proficient attorney and the rest will be easy because he/she boasts extensive knowledge on this area. So, they are in a better position to help you get the settlement as they are aware of how to maneuver through the justice system better than you.

Keeping One’s Mind in Good Shape

As a lawyer who suffers more than his share of defeats and frustrations during my regular work, I’ve found that some way to vent my frustrations is not just good exercise that benefits my health, it’s also something essential if I want to maintain my sanity and approach my work with a good attitude.

 That is why I do a regular hour workout in the gym each evening after leaving the office.  Regardless of the weather or other commitments, I head directly from the job to the gym.  I had a disagreement with my wife at first, because she felt I should come straight home to join the family.  But once I explained that I’d be worse company if I went home with all the feelings and stress in me she understood.  I think it also helped when she had to deal with me those two weeks when the gym was closed for major upgrades.  Only jogging every day rain or shine in the jogging suit and shoes I’d bought from Puma with one of their discount Groupon coupons kept me from becoming totally unbearable during that period.

 When I go to the gym I don my togs and warm up by jogging around the track.  Then I work out with the weights, and follow that by pedaling the stationary bike at least 5 miles.  Then I do my real workout on the heavy bag for at least 15 or 20 minutes.  I even name the bag the folks who’ve upset me the most lately and get in some good punches.  Of course, I’m not a real boxer and know nothing about it.  I do it to get rid of my frustrations, bounce around in my Puma shorts and training shoes.  And I remind myself I could easily be out fighting on the subway instead of driving to and from my job.  It helps get things back in perspective.

 After I finish on the bag I do 10 laps in the pool, then soak in the whirlpool.  Then I take my shower, get dressed and drive home to join the wife and kids for a late supper.  By that time the work on the bag has let me vent all my anger and frustration, so the kids think I am as gentle as a panda.  They have no idea what that bag has had to take.

Bankruptcy Offers Relief from Creditors

Understanding the different options in bankruptcy can seem difficult and confusing. Most people have heard the chapters and numbers, but have little to no idea what they mean, and honestly, without a good attorney, experienced in bankruptcy law Strongsville OH bankruptcy guidelines would become a laborious challenge.

The Benefits Of Filing For Bankruptcy

Upon filing for Bankruptcy protection, the court issues an automatic stay which is imposed upon your creditors. Normally, within 7-10 business days after applying for Bankruptcy, the court sends a bankruptcy notice to the creditors listed in your petition. This immediately precludes them from taking any further action against you to collect a debt. No phone calls, letters, wage garnishments, or repossessing property will occur.

Can I File For Chapter 7?

In order to file for bankruptcy, you must qualify. This criteria is called a “means test“, and is based on the way your annual gross income is compared to the median gross annual income of a similar size family in Ohio. Even if you do not meet the guidelines in the means test, you can still file for Chapter 13.

However, most debtors select Chapter 7 because it deals with liquidation of the debts, and the benefits include:

  • Most users can save all their assets, as they are protected by the exemptions.
  • If the assets are not protected, they can be turned over to the court for liquidation, or they can be settled in a way that allows the client to maintain the property.
  • Chapter 7 debtors usually receive a discharge of their debts within three to four months from the date the case is filed with the court.
  • There is no payment plan for creditors.

When a debt is discharged, they relieve a debtor forever of the obligation to pay that debt, so you get a fresh start.

Filing For Chapter 13

Chapter 13 Bankruptcy allows individuals or couples to pay all, or a portion, of their debts. This chapter is designed for workers with constant income, who are bombarded with accounts, lawsuits and other financial concerns. A Chapter 13 plan is used primarily to offset mortgage arrears, large car notes, and a percentage, or all of the money due other creditors, during a period of the three to five years.

While a Chapter 13 Bankruptcy event is in effect, creditors cannot commence or continue their collection efforts, and must accept what the plan pays them. Upon successful completion of a Chapter 13 repayment plan, the debtor receives a discharge which extinguishes all obligations to their creditors named in the filing.

Declaring Bankruptcy A Second Time

It is possible to declare bankruptcy more than once, but only every eight years. You can file a second time from the date the court ordered your discharge.

Bankruptcy will appear on your credit report for 10 years, and 7 years for Chapter 13. With respect to obtaining new credit after declaring Bankruptcy, the determination to approve credit in the future is up to an individual creditor. This decision will vary from creditor to creditor. Before filing, be sure that you have acquired the advice and assistance of a bankruptcy attorney, which will help you avoid procedural challenges in the long run.

Why You Should Look for a Social Security Attorney

Navigating a claim for social security disabilities can often be quite a hassle. It can in most cases be highly confusing and overwhelming as well. Comprehending all associated laws can be complex. It can be difficult for most people out there. If you’re frustrated by the thought of all social security matters, you should get the assistance of a qualified professional in the legal field. If you’re searching for capable social security lawyers Oklahoma residents can confidently get behind, you can stay calm and cool. Finding dependable social security lawyers in the Midwestern state is all about care and diligence. People have many solid reasons to search for assistance from social security attorneys as well.

Social Security Lawyers Backed by United States Social Security Administration

Guidance from a social security lawyer can be terrific for your peace of mind. Social security lawyers have Social Security Administration support. That’s the reason they can provide you with guidance that’s in-depth and unbiased. These legal professionals must follow stringent rules and because of that can make their clients feel secure and at ease.

Social Security Lawyers Have Expertise Regarding All Types of Perks

The assistance of a social security attorney can be extremely useful for people who want to delve into all the perks that are linked to the world. Lawyers who zero in on social security have lots of experience under their belts. They have A+ educational backgrounds, too. They know social security legal matters up and down. Social security lawyers can assist individuals with comprehensive application requirements. They can help individuals steer clear of any application errors as well. This can save a considerable amount of time. If your application includes any legal words that seem unfamiliar to you, a social security attorney can help you out. Social security lawyers are more than well-versed in legal jargon.

Social Security Lawyers Don’t Ask for a Lot of Money in the Beginning

The idea of covering legal costs can seem frightening to many people. Recruiting a social security attorney, however, shouldn’t be something that makes you feel dread and apprehension. Social security lawyers generally do not request initial payments. These attorneys in many cases don’t even ask for payments from clients who do not attain claim successes. If you have concerns regarding fees, the guidance of a social security attorney shouldn’t upset you at all.

Social Security Lawyers Can Answer All of Your Questions

Managing social security claims can be hard for many people. It can make them feel an intense degree of anxiety. If worries that relate to your claim keep you up at night, the help of a social security lawyer can be effective. People can get in contact with their lawyers any time they have pressing questions and concerns. This hassle-free communication can do away with many frustrating sleepless nights.

Introduction of Bonds and Type of Bonds

Understanding Bonds and Type of Bonds

Bond is a certificate of indebtedness issued by the company to its holder in exchange for interest of a certain amount. In each bond is shown the nominal value of bonds and bond interest rate. The nominal value or the par value is the value indicating the amount to be paid by the company at the time the bond matures. While the interest rate on bonds shows a certain percentage of which must be paid periodically to the bondholders.

Companies issuing bonds are usually caused by large amounts of funds that can’t be met from the accumulated retained earnings or from bank debt. Because these bonds have a maturity period of more than one year (usually between 5 to 20 years), then if the company issues bond it will generate bond debt. Contact Las Vegas bail bonds for best bail bond services.

These debts are grouped into long-term debt. Bonds and Bonds Types

Types of Bonds

1) Secured bonds and bonds are not guaranteed

Among the secured bonds are: Mortgage bonds are bonds whose issuance is secured by a specific guarantee such as real estate. Included in this secured bond are trust bonds whose issuance is guaranteed by shares or bonds of other companies.

Unsecured bonds are bonds whose issuance is not guaranteed by a guarantee. These bonds are very risky so that if the company issues this type of bond will provide a high interest rate, in order to attract potential investors.

2) Futures Bonds, Serial Bonds and Bonds Can Be Redeemed

Bonds are bonds that have maturities in one date. Serial bonds are bonds that have a serial or gradual maturity date. Bonds can be redeemed is a bond that entitles the issuer to redeem and withdraw the bond before its maturity.

3) Convertible Bonds

A convertible bond is a bond that can be converted with other securities at a time after its issuance. Usually this type of bond will be converted into stock.

4) Registered and Top Bonds Performance

Registered bonds are bonds issued on behalf of the owner. Bonds on the show are bonds that are not listed the name of the owner and can be transferred from one owner to another owner only through submission only.

That is the understanding of bonds and types of bonds.