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Before you Sign a Contract: Is That Your Real Name?
Byadmin
Sign Here I’ve practiced in the area of contract law for twenty-five years, and I’ve noticed something: Many people simply do not understand how to sign contracts. This struck me as strange at first, but after years became commonplace. Allow me to explain: By signing the contract, I mean signing their name on the correct…
Keeping the Family Camp in the Family
Byadmin
With summer imminent, many Mainers and those “from away” will be heading to their camps or vacation properties for relaxation and recreation. Frequently, these camps are legacy properties that have been used by families for generations providing an important family tradition and shared memories. As time passes, the number of family members who wish to…
Best Practices in International Business Contracting – Part 1
Byadmin
All contracts are subject to certain laws. The beauty of contracting is generally being able to choose which laws become part of the contract. An international business contract, for instance, it should generally read like a sophisticated business contract that will be performed by two domestic, English speaking parties. However, depending on the home countries…
New IRS Rules Regarding Partnership Audits (including LLCs), Part I
Byadmin
This blog will be part one of three regarding the new IRS BBA Rules regarding partnership audits that went into effect on January 1, 2018. Background: For over 35 years the IRS has wrestled with effectively auditing partnerships and their partners (including LLCs and their members, once LLCs began being widely used in the 1990s)….
Do I Need a Statement of Authority for My LLC?
Byadmin
Whether a well-penned forgery or a contract signed by a disgruntled ex-partner or ex-employee, no business manager wants to see a contract binding on the business that management did not authorize. A statement of authority is a two-page document filed with the Secretary of State (currently a $50 filing fee) alerting third parties which members or…
Is Debt or Equity Financing Better for My Business?
Byadmin
Recently a client sent me a financing contract from a “hard money” lender. This lender was willing to lend my client $150,000 at an interest rate of over 20%. Upon the lender’s granting the loan, the loan principal would jump from $150,000 to $225,000. These loan terms were considered within the “normal” range for this…
Before you Sign a Contract: Is That Your Real Name?
Byadmin
Sign Here I’ve practiced in the area of contract law for twenty-five years, and I’ve noticed something: Many people simply do not understand how to sign contracts. This struck me as strange at first, but after years became commonplace. Allow me to explain: By signing the contract, I mean signing their name on the correct…
Keeping the Family Camp in the Family
Byadmin
With summer imminent, many Mainers and those “from away” will be heading to their camps or vacation properties for relaxation and recreation. Frequently, these camps are legacy properties that have been used by families for generations providing an important family tradition and shared memories. As time passes, the number of family members who wish to…
Best Practices in International Business Contracting – Part 1
Byadmin
All contracts are subject to certain laws. The beauty of contracting is generally being able to choose which laws become part of the contract. An international business contract, for instance, it should generally read like a sophisticated business contract that will be performed by two domestic, English speaking parties. However, depending on the home countries…
New IRS Rules Regarding Partnership Audits (including LLCs), Part I
Byadmin
This blog will be part one of three regarding the new IRS BBA Rules regarding partnership audits that went into effect on January 1, 2018. Background: For over 35 years the IRS has wrestled with effectively auditing partnerships and their partners (including LLCs and their members, once LLCs began being widely used in the 1990s)….
Do I Need a Statement of Authority for My LLC?
Byadmin
Whether a well-penned forgery or a contract signed by a disgruntled ex-partner or ex-employee, no business manager wants to see a contract binding on the business that management did not authorize. A statement of authority is a two-page document filed with the Secretary of State (currently a $50 filing fee) alerting third parties which members or…
Is Debt or Equity Financing Better for My Business?
Byadmin
Recently a client sent me a financing contract from a “hard money” lender. This lender was willing to lend my client $150,000 at an interest rate of over 20%. Upon the lender’s granting the loan, the loan principal would jump from $150,000 to $225,000. These loan terms were considered within the “normal” range for this…
Before you Sign a Contract: Is That Your Real Name?
Byadmin
Sign Here I’ve practiced in the area of contract law for twenty-five years, and I’ve noticed something: Many people simply do not understand how to sign contracts. This struck me as strange at first, but after years became commonplace. Allow me to explain: By signing the contract, I mean signing their name on the correct…
Keeping the Family Camp in the Family
Byadmin
With summer imminent, many Mainers and those “from away” will be heading to their camps or vacation properties for relaxation and recreation. Frequently, these camps are legacy properties that have been used by families for generations providing an important family tradition and shared memories. As time passes, the number of family members who wish to…
Best Practices in International Business Contracting – Part 1
Byadmin
All contracts are subject to certain laws. The beauty of contracting is generally being able to choose which laws become part of the contract. An international business contract, for instance, it should generally read like a sophisticated business contract that will be performed by two domestic, English speaking parties. However, depending on the home countries…
New IRS Rules Regarding Partnership Audits (including LLCs), Part I
Byadmin
This blog will be part one of three regarding the new IRS BBA Rules regarding partnership audits that went into effect on January 1, 2018. Background: For over 35 years the IRS has wrestled with effectively auditing partnerships and their partners (including LLCs and their members, once LLCs began being widely used in the 1990s)….
Do I Need a Statement of Authority for My LLC?
Byadmin
Whether a well-penned forgery or a contract signed by a disgruntled ex-partner or ex-employee, no business manager wants to see a contract binding on the business that management did not authorize. A statement of authority is a two-page document filed with the Secretary of State (currently a $50 filing fee) alerting third parties which members or…
Is Debt or Equity Financing Better for My Business?
Byadmin
Recently a client sent me a financing contract from a “hard money” lender. This lender was willing to lend my client $150,000 at an interest rate of over 20%. Upon the lender’s granting the loan, the loan principal would jump from $150,000 to $225,000. These loan terms were considered within the “normal” range for this…
