Stockholder Voting Rights.

A company’s shareholders are typically granted voting rights, which allow them to elect the company’s board of directors and vote on corporate matters. Shareholders may also have the right to vote on matters relating to the sale of the company or the issuance of new shares. What is the preferential system of voting? The preferential … Read more

Family Limited Partnership (FLP).

A family limited partnership (FLP) is a limited partnership formed by family members for the purpose of owning and managing family assets. The general partner is usually a family member who manages the FLP, and the limited partners are usually other family members. The main advantage of an FLP is that it can help preserve … Read more

What Is the Small Business Administration (SBA)?

The Small Business Administration (SBA) is a U.S. government agency that provides support to small businesses and entrepreneurs. The SBA offers a variety of services and programs, including financing, counseling, and training. The agency also provides disaster relief and assistance to businesses in areas affected by natural disasters. Who is the current SBA administrator? The … Read more

Predatory Pricing.

Predatory pricing is the illegal practice of setting prices low in order to eliminate competition, or to gain a monopoly. This can be done by setting prices below the cost of production, or by setting prices so low that competitors cannot match them and still make a profit. Predatory pricing is often used as a … Read more

Vicarious Liability.

Vicarious liability is a legal doctrine that holds one party responsible for the actions of another. This doctrine is often used in cases where an employer is held liable for the actions of an employee, or a landowner is held liable for the actions of a tenant. In some cases, vicarious liability may also extend … Read more

What You Need to Know About Engagement Letters.

Engagement Letters: All You Need to Know Which of the following matter does an auditor usually include in the engagement letter? There are many different types of engagement letters, but most of them will include some basic information about the scope of the engagement, the auditor’s responsibilities, the client’s responsibilities, and the fees for the … Read more

Grandfather Clause.

A grandfather clause is a provision in a law that exempts certain groups or individuals from the requirements of the law because they were in existence before the law was enacted. The term is typically used in reference to laws that impose new restrictions or requirements, such as zoning laws or building code regulations. For … Read more

Understanding Hold Harmless Clauses.

A hold harmless clause is a contractual provision in which one party agrees to indemnify and hold the other party harmless from any loss, damage, or liability arising out of a specified event or occurrence. The purpose of a hold harmless clause is to protect one party from financial loss or liability in the event … Read more