Understanding Redemption Agreements: Key Elements and Legal Insights

What is a Redemption Agreement? A redemption agreement, sometimes called a buyout agreement, is part of a contract between co-owners, often shareholders or partners, that sets forth how an owner or owners may sell their equity ownership interest back to the company at a certain price and according to a particular formula. There are several different types of redemption agreements, including a cross purchase agreement, a stock redemption agreement and an asset redemption agreement. Oftentimes, these agreements are used by…

Common Law in Arkansas: Essential Facts and Considerations

What Is the Common Law? Common law is a body of unwritten laws based on legal precedents established by the courts. It applies to many areas of law in Arkansas. Unless specifically stated otherwise, common law opinions are based on the interpretation of statutes or regulations, not necessarily from custom or practice.In practice, common law refers to any unwritten laws that have not been codified in the Arkansas Code. Such laws are established by court decisions, i.e., the body of…

Garage Rental Laws Explained: A Guide to the Legalities

What Are Garage Rental Laws? Garage rental laws are a set of legal guidelines and regulations that govern the rental of garages, car ports, and other forms of off-street parking facilities. These laws provide a framework for the obligations and responsibilities of both landlords and tenants in a garage rental with the primary goal of ensuring a fair, transparent, and secure environment for both parties.For landlords, knowledge of garage rental laws is crucial for protecting their interests. Compliance with local…

Hawaii Rules of Professional Conduct for Attorneys-at-Law

Lawyer’s Professional Ethics in Hawaii In Hawaii, the legal profession is governed by the Hawaii Rules of Professional Conduct (HRPC) which was adopted by the Hawaii Supreme Court to guide the ethical conduct of attorneys in the state. These Rules are indispensable to maintaining public confidence in the sixth largest profession in the nation. The HRPC as a whole and every rule contained within them serve to protect clients, prospective clients , the public and the legal profession from lawyers…

Effective Law Firm Receivable Management

The Necessity of Accounts Receivable Management All law firms have a goal to maintain a healthy cash account and are ever searching for ways to maintain or improve that cash position. The fastest way to do this is by getting paid more rapidly. The keys to obtaining prompt payment are clean billings with accurate descriptions of the services provided. Both of these pieces can be monitored by the capabilities provided through billing and receivables management software.The next step is to…

Finding Legal Assistance in Norfolk, VA: Contact Information and Services

Legal Aid in Norfolk, VA: An Overview The legal aid system is a critical resource for low-income individuals and families in Norfolk, VA. Legal aid offers free legal services in civil cases to those with limited financial means within the area that the legal aid organization serves. Approximately 80% of low-income families do not have access to the legal services that they require to navigate the complex web of laws that govern citizens throughout the United States, and legal aid’s…

An Overview of the Legality of Stun Guns in Arizona

Arizona Stun Gun Laws Explained Like most non-lethal self-defense weapons, the legality of stun guns can vary significantly from state to state. Under A.R.S. section 13-3101(3)(c), tasers are illegal because tasers both shoot projectiles and have the ability to release a shock. While they may be similar in function, law makers and prosecutors have sought to draw a bright line distinction between tasers and stun guns (which lack the projectile shooting mechanism). Under that same section of the code, stun…

Understanding Legal for Trade Scales: A Comprehensive Guide

What is a Legal for Trade Scale? Legal for trade scales are certified, calibrated and tested by an approved state or county sealer of weights and measures agency. The certificate authorizes the company that produces the scales to provide inspection certification and allow the device to be used in situations where the comparison of weight between buyers and sellers is regulated.It is commonly assumed that all scales are legal for trade scales and that there are no other standards for…

Everything You Need to Know About Labor Law Coverage for Employers and Employees

What Is Labor Law Coverage? Labor law coverage constitutes employment practices liability insurance coverage for violating federal, state and local employment-based laws, such as the Family Medical Leave Act (FMLA), Fair Labor Standards Act (FLSA), and Equal Employment Opportunity Commission (EEOC) laws. There are hundreds of employment laws of this type and their number increases each year. Understanding which laws you are required to comply can be burdensome, complicated and often very difficult. Employers – make certain that you are…

The Complete Guide to LLC Subscription Agreements

What Is An LLC Subscription Agreement? A subscription agreement is a form of a contract that individuals interested in purchasing LLC membership units may use when subscribing to an LLC. LLC subscription agreements govern the rights of individuals regarding their ownership of membership units, along with the required contributions of funds or services and the distribution of LLC profits. In this way, they are similar to , yet different from, corporation subscription agreements which are used for corporations selling stock.…