During the coronavirus pandemic, many foreign nationals have been left unable to leave the United States and have, therefore, been involuntarily stranded in the country for longer than they anticipated. Does this extended presence in the United States carry with it any tax implications for these foreign nationals?
Not many people know this but it is important to know that once a business or disadvantaged individual has participated in the program, neither the business nor that individual will be eligible again. The SBA will automatically decline those applications.
What is a Force Majeure Clause in a Contract? A force majeure clause is a provision typically added to contracts
The reason for such disclosures is to protect the company in the event things fall apart and the investors try to sue the company for securities fraud for example. Such disclosures will be used as the company’s defense. One of the best ways to provide such disclosures is through a document called a Private Placement Memorandum (aka PPM).
While it can be emotional to imagine the state of a business after your passing, it can prove crucial in the protection of your legacy. The reality is that your sudden passing can lead to thousands or millions of dollars in losses for your business, and even starker consequences for your family.
In a class action lawsuit, only one lawsuit is filed on behalf of an entire group of injured parties. Very often, for example, such lawsuits unite many individuals and go after a large company that has produced defective products that have causes injury or loss to every individual member of the class action lawsuit. The settlement that such a lawsuit results in is typically divided between all of the individual plaintiffs.
A personal guarantee is an individual or business entity that guarantees responsibility for another’s financial obligation, should they ever fail to repay their lender. Personal guarantee’s usually come in when securing a debt for a loan such as a car finance or mortgage, but the guarantor is not contractually liable for any part of the loan unless the debtor fails to make a payment.
If a personal guarantor does not respond to the lender’s demand, the lender has two options to choose from in order to collect the debt. First, the lender can file suit against the personal guarantor and second – he can petition a court for the personal guarantor’s bankruptcy.
The measurements taken to prevent the spread of Covid-19 in the US have caused an economic downturn that is dramatically affecting our country’s small businesses. While Congress was able to enact the CARES Act to provide emergency financial aid to those applied for one of its programs; unfortunately, it has now been reported that funding for these programs has been exhausted.
Borrower’s Representative means an individual or an organization that is designated by the Borrower to act on behalf of the Borrower by a written certificate and complying with the requirements of the applicable state. The borrower’s representative always requires some written proof of authority before being able to act on behalf of the borrower.
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Esta es una guía rápida de referencia jurídica que cubre 16 temas que cada empresario necesita saber para empezar un negocio.
