A secured party should perfect their security interest, after attachment, in order to fully ensure its legal rights against a third party claiming that they have an interest in the same collateral. By perfecting a security interest, a secured party gains priority over subsequent creditors claiming the same collateral.
A security interest occurs when a debtor, which can be a person or business, borrows money from a creditor or more specifically a secured party and they agree to execute a security agreement. In the event the debtor defaults by not paying back the loan or by violating a provision in the agreement, the secured party can seize the collateral and may sell it to satisfy the debt.
Today, many businesses are forming as a Limited Liability Company (LLC) and are finding that an LLC offers the “best of both worlds” of corporate forms.
Businesses can choose to hire a person as an independent contractor or as an employee. Some employers rather hire independent contractors because of the reduced costs in payroll and taxes. However, an employer must be certain that the worker that is classifying as an independent contractor is truly an independent contractor.
Are you on the right path to retirement? A retirement plan is not something to take lightly or put off to a later date.
While it is not illegal to earn income abroad or to hold an offshore account, failure to disclose income to the Internal Revenue Service is illegal.
Beneficiary designations on your financial accounts can provide a quick alternative to traditional estate planning strategies by making sure your accounts are not subject to probate, thus preserving your wealth and preventing unnecessary court expenses and proceedings.
Lunch Breaks: Are you in Compliance with Federal and State Law?
Who Pays the Documentary Stamp Tax? In Florida, people who transfer real estate in exchange for value must pay a
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This is a quick legal reference guide covering 16 topics that every business owner needs to have to start a business
