| Volume 7 Number 8 |
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What many regard as the nation's first Thanksgiving took place in December 1621 as the religious separatist Pilgrims held a three-day feast to celebrate a bountiful harvest. It eventually became a national holiday in 1863 when President Abraham Lincoln proclaimed the last Thursday of November as a national day of thanksgiving. Later, President Franklin Roosevelt clarified that Thanksgiving should always be celebrated on the fourth Thursday of the month to encourage earlier holiday shopping, never on the occasional fifth Thursday. Click here for more.
The People’s Lawyer’s Tip of the Day
Under the law, a store may charge no more than $30 for a bounced check. There is no limit for how much a bank may charge. Shop around for a bank that charges a reasonable fee, and get "overdraft protection" to avoid high fees for a bounced check.
Preventing Squabbles Over a Will With No-Contest Clause
When Frank Sinatra drafted his will, he made sure that his heirs would accept their inheritance his way. Before Jerry Garcia died, the Grateful Dead guitarist took steps to promote peace among his survivors once his truckin' days were over. How? Both entertainers included "in terrorem" provisions in their wills. The in terrorem provision, known less formally as a "no-contest" clause, is a paragraph or more of legal boilerplate aimed, as it's Latin name implies, to scare off legal challenges by heirs who don't feel they've been given their fair shares of the enchilada. Click here for more.
Americans' 10 Biggest Wastes of Money
When it comes to blowing money, we Americans have no peers. We are the world champions of frivolous spending and we have the record level of personal debt to prove it. How profligate are we? New Jersey dental-school student Steven Toth posted a mystery item on eBay last year under the title "The Biggest Waste of Money" and got a high bid of $136 from the last of 36 bidders -- for a piece of paper on which he scribbled that phrase. Click here for more.
Confessions of an Ex-Mortgage Lender
Former loan officer Ted Janusz spills the secrets on this calculated practice of ripping borrowers off. Click here for more.
Your Money
Holiday spending work sheet Click here for more.
For the Lawyers
The Texas Supreme Court has made it easier to enforce a covenant not to compete. The court held a covenant not to compete is enforceable if executory promise Is performed by the employer. Click here for more.