With a view towards closing a deal, legal due diligence occurs when a business attorney collects and analyzes information from a legal perspective and then makes recommendations regarding any action that should be taken.
This typically occurs during the period between signing the transaction (e.g. ...Read More
When an individual files for bankruptcy, the typical result is that the individual’s debts to all of its creditors—including its bank creditors—are discharged. As a practical matter, this means that those obligations are essentially uncollectable as personal obligations of the bankrupt debtor. (The creditors ...Read More
Why 7A’s may get sold or transferred. Under what circumstances does this happen?
- 10 Tabs
Importance of avoiding glitches with SBA, such as “Paid in Full”
Handling transfers properly covers the gamut of 7A lending, from cradle to grave, because to do it right ...Read More
Thomas Jefferson famously advised, “[n]ever spend your money before you have it.” But as Mr. Jefferson (who was substantially indebted throughout much of his life) himself discovered, this advice is far easier for most people to give than to heed. Recent studies indicate that ...Read More
As commerce is becoming more and more dependent upon technology, many companies are considering ways to move from paper-based transactions to transactions conducted solely by electronic means. If you operate or do business with such a company, one important thing to be aware of ...Read More
Section 1031 Like Kind Exchanges are named for Section 1031 of the Internal Revenue Code. Section 1031 states: “No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such ...Read More