To prevent misuse and abuse of those visiting, most reputable websites today have “terms of use” agreements. Those agreements must be read and agreed to before utilizing the services which the website offers. This is why you will see, for example, a complete set of guidelines that you must understand and agree to before selling or purchasing something on ebay and many similar sites.
The simple answer to the question of when you should obtain a receipt is always. When you sell something or give something away which has any value, either monetary or personal, you should obtain a signed receipt from the person receiving it.
When any property transfers from one owner to another, a deed of transfer must be recorded with the local registry in the appropriate city or county. Generally, when one party purchases property from another party, a warranty deed is written, signed, witnessed and recorded. However, this may not always be necessary.
When you make a monetary loan, it is always a good idea to have a promissory note setting forth the terms of the loan. A promissory note is also used in real estate transactions.
If you have a business partnership with one or more persons and someone wants to leave the partnership, a formal agreement is truly necessary to protect everyone involved. The technical term for this type of agreement is a dissolution, which is the change in the relationship of the partners caused by any partner ceasing to be associated with the business, and distinguishes it from the dissolution of the business itself.
As with a general partnership, a limited liability partnership requires an agreement so that each partner’s role, protections and expectations are clearly defined. The limited liability partnership (LLP) has been an ever-growing form of business organization in recent years. It protects a partnership in much the same way as a limited liability corporation protects the business. It is important, however, to check with your state before forming an LLP and signing an agreement, because not all states recognize this type of organization.
A partnership is created when two or more individuals decide to form a business or enter an endeavor together. The partnership agreement is meant to clearly define the terms of the partnership, clarifying the responsibilities and benefits for each partner.
A power of attorney is a document giving a trusted friend or lawyer the right to perform any legal act on your behalf. Anyone should be very cautious about utilizing these documents, as the person holding the power can literally perform any transaction in your absence. However, many times this grant of power is absolutely necessary to handle matters when you are not able to handle them yourself.
At times your child may have the opportunity to take a vacation or trip without you present. However, unexpected problems can always arise, which might require your consent. Let’s say, for example, that your child travels with a friend for school vacation to visit another state. While there, your child falls out of a tree on the family farm and breaks a leg. Naturally, the parents hosting your child will have to take him or her to the emergency room for proper treatment. But, what happens when the hospital finds out they are not the custodial parents?
If you own a business or perform services for someone, you expect to be paid, unless previous arrangements have been made for the donation of your time and materials. In order for your business to continue in a profitable manner, you have to rely on customers to pay their bills on time. However, in many cases, this simply doesn’t happen. When you first start any type of job for a client, you should have a simple contract, which states the cost of materials and labor, and a payment schedule for the job. But, what if the customer decides they are not going to honor that contract and simply don’t give you any money. Even if you do not have formal contract (which is never a good idea), you still have a remedy for payment.