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The People’s Lawyer’s Tip of the DayStarting a new business can be risky, and the type of business determines your individual liability. If you run a business in your own name, or as a partnership, you are responsible for all the liabilities of the business. To protect yourself, consider operating the business as a corporation or limited liability company. An attorney can help you make the right choice. Click here for more. Texas Sets Record for Hottest Summer EverDid you think it was unusually hot this summer? From the months June to August, Texas set a record for the hottest summer in United States history. Texas had an average temperature of 86.5 degrees, beating out Oklahoma's 1934 record of 85.2 degrees. With temperatures consistently over 100 degrees and one of the worst droughts in history, dry conditions have made Texas land fertile ground for devastating wildfires. To read about the records and their implications, Click here for more. Tax Reform & the Super CommitteeWhen the President and Congress were working to reach a deal over the debt ceiling, both parties agreed to form at bipartisan debt super committee charged with reducing the deficit. The committee has 11 weeks to create a plan to reduce the deficit by $1.2 trillion over the next decade. In fact, the committee can't just write a report. Instead, it must actually produce written legislation ready for debate. Will the members break party molds to reach a fair compromise? Click here for more. Your MoneyWhich is better - cash or payments? Click here for more. For the LawyersLender may be liable under state consumer protection act for conduct in connection with foreclosure. The New Jersey Supreme Court held that a home lender may be liable for consumer fraud law based on its allegedly breaching of agreements to forbear on foreclosure proceedings. “We hold that the post-foreclosure-judgment agreements in this case were both in form and substance an extension of credit to the plaintiff originating from the initial loan. Fraudulent lending practices, even in a post-judgment setting, may be the basis for a Consumer Fraud Act lawsuit,” the court said. Click here for more. |
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