An interspousal transfer deed is a legal document used to transfer ownership of shared or communal property (if you live in a community property state) to one spouse in a marriage. Also known as an interspousal transfer grant deed, this legal instrument operates under three primary rules: Property is transferable anytime: No special occasion or reason …
You can get a court to order a specific breach of contract remedy if you want the other party to perform the contract or make restitution for their failure to perform. This remedy is not available if you’ve suffered only damages, and it’s usually reserved for situations where monetary damages would be an inadequate remedy …
The term “statute of frauds” often gets mentioned during disputes involving oral contracts. The statute of frauds outlines that some contracts must be “memorized” in a signed document that outlines the agreement. Nonetheless, a written agreement isn’t always required for contracts to be enforceable. In the US, different states recognize various exceptions to the statute …
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A clawback is a contractual provision under which a reward, bonus or compensation is returned, cancelled, forfeited or recovered. Sometimes, the person returning the reward pays a penalty in the event of fraud, misconduct or breach of contract. The law states that the award can be forfeited whether or not it has been paid, vested …
Yes. An employer can claw back a bonus, but this depends on the terms of the contract. If the contract states that the employer can claw back a bonus, the employer will likely do so. The clawback terms may apply under certain circumstances or undesirable events. For instance, clawback can happen in the case of …
You can cancel an anticipatory breach of contract upon a failed statement to perform by the promisor based on your contractual obligations. When you decide to cancel the contract, you may get a refund from the promisor. If the promisor states that they can’t deliver upon the contract terms, you can proceed and file legal …
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An uncontested divorce is when both spouses agree on all issues related to their separation and marriage dissolution. This process is usually quicker than a contested divorce, but the circumstances vary per state, county, and courthouse. An uncontested divorce doesn’t require a trial and other time-consuming legal procedures. But spouses must meet the requirements before …
If you are considering a divorce, the first step is to talk to a divorce lawyer before you do anything else. It is important to gather legal knowledge about divorce to avoid making costly mistakes. With so many family law attorneys, hiring an experienced lawyer who understands divorce laws and legal procedures is imperative. Here is a …
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The average cost of divorce in the United States ranges between $7,000 and $23,000. This cost assumes a typical cost of $300 to $400 per hour, which a family law attorney might charge. If you’re able to go the route of an uncontested divorce, you might pay as little as $2,000 if you hire a …
Clawback in a contract requires that an employee returns the money paid to them by their employer. Remember that every employee signs a contract promising to deliver as the employer expects. However, when the performance report indicates otherwise, the clawback provision helps the employer solve the case. You have to pay the penalty aside from …
Generally, you can sue your business partner for not working if it is a breach of partnership agreement. This means your partner is acting in a manner that is contrary to your agreement. While suing your business partner can be the most difficult decision, it may be the only option to hold them liable for …
You can sue your business partner when their actions cause damage to the business. The legal ground for suing a partner is when there is negligence, abandonment, or breach of contract. A partnership is an excellent way to steer a business in the right direction. It enables partners to achieve their long-term goals effortlessly with …
With discretionary trusts, a trustee manages the trust at their sole discretion, which means they are at liberty to decide when and how to distribute trust assets to the beneficiaries. Alternatively in most trusts, a trustee manages a trust on behalf of one or more beneficiaries. Discretionary trusts also allow both discretions, to add flexibility. …
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Divorcing a blended family follows the standard divorce procedure but is more complicated and comes with several challenges. A blended family is where spouses have children from previous relationships or marriages. They may also have children together. It is often not very clear what obligations step-parents have towards their stepchildren. Here are some complications blended families face …
Many people wonder if it’s better to get divorced or separated. The confusion might arise because the two are similar in many ways. In both cases, certain issues must be settled. A divorce is a court order that a valid marriage no longer exists. It divides property and determines child custody, child support, and spousal support if …
If both partners’ names appear on the house title, then both have the right to stay in the house during separation. This means every party has equal rights in the home. In cases where there is domestic violence, one can get a court order to restrain the other party from staying at home during the separation. …
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When divorcing a partner who tends toward extreme narcissism, you need to be prepared for drama, and a lot of it. This could very well be the fight of your life. Divorce to a narcissist, no matter who is at fault, is a personal attack on their feelings of power, their understanding of their social …
When you file Chapter 7, you can keep or lose some or all of the money in your bank account when you file bankruptcy. Your bank account’s fate depends on various factors, including: Bankruptcy Setoff Most banking contracts include a setoff clause allowing them to recover money from your bank account without your permission if you default …
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A bankruptcy trustee is primarily responsible for administering a bankruptcy estate. From the adoption of the bankruptcy plan through the creditors’ meeting, the trustees are responsible for ensuring that the process runs seamlessly. If you filed for bankruptcy, you may wish to know the role of the bankruptcy trustee. In each consumer bankruptcy case, a bankruptcy trustee …
Generally, shareholders hold power in a company, and the directors are responsible for its daily operations. Often, shareholders and directors work together and decide the way forward for the company. However, this isn’t always the case, and disputes between directors and shareholders are common. Conflicts occur when shareholders disagree with the actions taken by directors. …
