In the fast-paced and competitive business world, partnerships drive success and growth. However, not all partnerships are meant to last forever. There are instances when it becomes necessary to sever ties and end a business partnership. Partnerships can be rewarding...
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Year: 2023
What is the Real Estate Settlement Procedures Act?
RESPA, the Real Estate Settlement Procedures Act, is a pivotal piece of legislation that has long influenced real estate transactions across the United States. Introduced by Congress in 1974, RESPA's mission is to better ensure that homebuyers and homeowners are...
Examples of potential creditor harassment
Creditors can contact borrowers about the monies that they owe. They can try to collect on that debt. But there are still specific guidelines that they have to follow. If they don’t do so, then these efforts to collect could turn into illegal forms of harassment. How...
How to avoid issues during a merger and acquisition
Mergers and acquisitions are complex transactions involving integrating two or more businesses. While they can lead to significant benefits, such as increased market share, cost savings and access to new technologies, they also come with challenges. To avoid issues...
What happens when a business partner refuses a buyout?
When a partner wants out of a business partnership, the remaining partners may have to buy them out to continue operations. But what if the outgoing partner refuses the buyout offer? It can be a tricky situation that could affect the future or continuity of the...
When is specific performance an appropriate remedy?
When you enter into a contract with another party, you do so with the expectation that everyone will fulfill their obligations under the terms of the agreement. However, it does not always turn out this way. The other party may fail to perform their part resulting in...
A non-compete agreement can help protect your business
As a business owner, you’ve put in countless hours and resources to build your company from the ground up. You’ve worked hard to establish a successful business - from hiring the right employees to developing a strong customer base. However, with success comes...
Understanding actual and anticipatory contract breaches
Most businesses are founded on the grounds of a contract. A contract is a legally binding agreement between parties, which ensures everyone meets their obligations for the benefit of everyone. However, contracts can be breached and this can greatly affect business...
What can you do about minority shareholder oppression in Ohio?
Owning less than a majority share of a business can put you at risk of minority shareholder oppression. It occurs when those who own greater shares violate the rights of those who own less than half of a company’s total shares. Oppression of minority shareholders is a...
What are a creditor’s rights during Chapter 7 bankruptcy?
The consequences of filing for bankruptcy can be both far-reaching and enduring. One of the most significant implications is how it affects creditors and their rights to pursue a claim against the bankruptcy estate. If you are a creditor, understanding Chapter 7...