The Road to Partnership at Law Firms: Average Age for Becoming Partner
What is a Firm Partnership? As you progress through your career you might be aiming for that partnership level position, which is the ultimate form of recognition at a law firm. This is where you’re considered a partner with a law firm and a firm’s partners are collectively responsible for the firm’s debts. Becoming a partner includes prestige, control, a […]
What Is a “Motor Vehicle” Per Black’s Law Dictionary
Legal Definition: What Is a Motor Vehicle? In terms of legal drafting definitions, Black’s Law Dictionary provides:Motor Vehicle. A vehicle that is self-propelled and not operated by a person outside the vehicle; e.g., an automobile or bus. – Also termed motorcar.Black’s Law Dictionary 1091 (Bryan A. Garder ed., West Group 8th ed . 2004)The dictionary cites as examples of motor […]
Kentucky Scooter Laws: An In-Depth Guide
All You Need to Know About Kentucky Scooter Laws Kentucky scooter laws cover all vehicles known as scooters in the Bluegrass State. The law defines scooters as motor vehicles without seats other than a seat for the driver, with at least two wheels, a cushion and footrest on the floor or on the body of the vehicle, and a maximum […]
Complete Guide to Legal Services in McComb, MS
Overview of Legal Services in McComb Start in legal service, McComb, Mississippi is a city that boasts a rich history and a diverse economy. The legal landscape here is shaped not only by the local politics and industries but also by the needs of individuals and businesses in the community. Across its many courts, law offices, and government agencies, the […]
California Verbal Agreements: What You Need to Know Legally
The Basics of Verbal Agreements At their core, verbal agreements are just like contracts: a legally binding promise to do or not do something. It’s the definitive agreement made between two parties, and if one side does not hold up their end of the bargain, it can allow the other to sue them in court. In fact, verbal contracts are […]
A Guide to Understanding a Joint Tenancy Agreement
Definition of a Joint Tenancy Agreement Joint tenancy agreements represent a specific, legally binding property ownership arrangement in Australia designed to offer enhanced security to all parties involved. It’s a system typically implemented between partners, spouses or family members to avoid the stress of going through probate in the event of an owner passing away, as the property automatically, by […]
Duration of a Tolling Agreement: When Can They Expire?
What Exactly is a Tolling Agreement? Tolling has a number of meanings in the law, so its use in the business context creates some confusion. In a business context, a tolling agreement is used to extend the length of time in which the parties may resolve the dispute before commencing any action. It can be used in both litigation and […]
Demystifying ‘Agree to Agree’ in Contract Law
What is an ‘Agree to Agree’ Contract? An ‘agree to agree’ contract is a promise to make an agreement in the future or to negotiate in good faith to reach an agreement. When it comes to contractual obligations, however, the law requires an actual signed agreement (or at least a signed offer and acceptance) for there to be an agreement […]
When and Why a Mortgage Company May Decline Payment
Decoding a Mortgage Payment Refusal When you borrow cash from a mortgage company for your new home or to refinance an existing mortgage, you enter into a mortgage agreement that carries specific instructions on how you are to pay back the loan. In general, you pay a mortgage company per month until you either refinance or buy another home. This […]
Understanding P and S Agreements in Real Estate Deals
What is a P and S Agreement? A Purchase and Sale Agreement (often called P and S) is the contract between a buyer and seller of real property. It is usually a one to four page document, accompanied by the "exhibits" which typically include a deed, mortgage, power of attorney, tenant estoppel letters, condo documents, etc.The purchase and sale agreement […]