| Volume 57 Number 4 |
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The People’s Lawyer’s Tip of the Day
As a general rule, relatives and beneficiaries of a person who dies do not owe the deceased’s debts. If a debt collector contacts you about paying the debts of a person who dies, tell him to contact the executor of the estate. Click here for more.
Obama Makes Tax Deal With Republicans
President Obama announced a deal with Republicans on Monday night to extend the Bush tax cuts. Democrats are generally opposed to the plan, primarily because $383 billion of the $700 billion plan is associated with extending tax cuts to the wealthiest Americans. The proposal includes new stimulus measures that will drive up the deficit, but could help maintain the economic recovery. To read about the how the plan affects the Bush tax cuts, unemployment benefits, Social Security, individual tax credits, and business tax credits, Click here for more.
The Government's Money Printing Failures
A new $100 bill, ten years in the making, hit the presses this week. Touted for new sophisticated security features, including color-shifting images and 3-D security strips, the new bill simply proved too complex for mass production. After noticing "something drastically wrong," production of the new bill was shut down and the Government has quarantined one billion of the new $100 bills in a Fort Worth, TX vault. Click here for more.
Groupon Rejects Google's Bid
Last week, internet giant Google offered $6 billion to buy internet coupon service, Groupon. Groupon, which currently has more than 35 million users, has walked away from the deal. Instead, the company may pursue an IPO to sell shares to the public. Until then, Groupon plans to remain independent. Click here for more.
Your Money
How much should you set aside for emergencies? Click here for more.
For the Lawyers
No bona fide error defense for mistake of law. A federal district court in Indiana held that an attorney debt collector could not raise mistake of law as a defense to a FDCPA class action lawsuit. The court noted that the Supreme Court has held mistake of law is not within the scope of the bona fide error defense. Click here for more.