| Volume 38 Number 10 |
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The People’s Lawyer’s Tip of the Day
Always use a credit card when shopping online or by mail. Federal law allows you to refuse to pay the credit card bill if the goods are never delivered. Click here for more.
GM Faces $250M Past Due Notice
As General Motors works through bankruptcy, creditors are lining up to be paid. GM currently owes more than $100 million for advertising, and a total of $250 million to all creditors combined. As part of the bankruptcy process, only "critical vendor" will be paid. As a result, the GM supply market is strained, resulting in market impacts far beyond the automotive industry. If GM survives bankruptcy, will its vendors survive as well? Click here for more.
iPhone 3G S Lives Up to Hype
When Apple claims that the iPhone 3G S is twice as fast as the iPhone 3G, they aren't kidding. According to tests done by Consumer Reports, the iPhone 3G S performed twice as fast or more than the previous generation. The lone hang-up? Consumers have experienced problems activating the new device. According to early reports, some consumers are waiting up to 48 hours for the AT&T network to recognize the new phone. Is the new iPhone worth the upgrade? Click here for more.
Living Will, Medical Power of Attorney, Living Trust, and more
Planning for death can be uncomfortable. One can, however, make their wishes known (and legal) with the help of some basic legal documents. Visit the People's Lawyer website for examples of a living will, medical power of attorney, living trust, and more! Click here for more.
The Consumer Financial Protection Agency
President Obama would like to see consumers make more informed decisions about financial products, retirement, and investments. A new consumer agency may be on the horizon. The Consumer Financial Protection Agency would hold authority to write and enforce rules encompassing financial products. For example, a credit card without hidden fees or penalty interest rates would have few regulatory hoops to jump through. On the other hand, more complex (and risky) financial products would require more oversight. If companies don't follow the rules, the Consumer Financial Protection Agency would have the authority to hold the business accountable. How would the Consumer Financial Protection Agency help consumers? Click here for more.
Your Money
What will my tax savings be? Click here for more.
For the Lawyers
A provision in an insurance contract that establishes a limitations period shorter than two years is void. A Texas Court of Appeals has held that language in an insurance policy violates the Texas Civil Practice and Remedies Code, which provides: [A] person may not enter a stipulation, contract, or agreement that purports to limit the time in which to bring suit on the stipulation, contract, or agreement to a period shorter than two years. A stipulation, contract, or agreement that establishes a limitations period that is shorter than two years is void in this state. Click here for more.