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Signing a Credit Application on Behalf of a Company Could Subject You to PERSONAL Liability Most small business vendors and suppliers require a company officer to sign a Commercial Credit Application or Agreement to buy goods and supplies on account. Watch out, though! Carefully examine the language of the Credit...
Read More Continue ReadingLaw FAQ: I bought a car yesterday but now think I made a bad decision. I have 3 days to get my money back, right? No. There is no “cooling off” period in Tennessee that gives you the right to back out of a car purchase simply because you’ve had...
Read More Continue ReadingWhat is a Deposition? A deposition is similar to a witness testifying in court, except that it occurs in an out-of-court setting. A witness at a deposition is referred to as the “deponent.” A deposition usually takes place in a lawyer’s conference room, although I’ve personally been involved in depositions...
Read More Continue ReadingIs my car a lemon? Tennessee’s Lemon Law is intended to protect new car purchasers from the occasional vehicle that, for some reason or another, has problems that are beyond repair. The core of the Lemon Law is at T.C.A. § 55-24-102, which states as follows: If a new motor...
Read More Continue ReadingLaw FAQ: What is a HEET? A HEET is a Health and Education Exemption Trust. This time of year many clients are making gifts to their children and grandchildren. They often forget that gifts in excess of the $13,000 annual gift tax exclusion amount will be subject to Tennessee gift...
Read More Continue ReadingLaw FAQ: What is negligence? What is a legal duty? (Part 2) In yesterday’s blog post, I listed the 5 basic elements for a negligence claim: duty, breach, injury, causation, and proximate/legal cause. Today’s post will focus on the first 2 elements which, for the most part, comprise the most interesting and difficult...
Read More Continue ReadingLaw FAQ: What is negligence? Negligence is the legal term for failing to exercise reasonable care and caution under a given set of circumstances. It is commonly referred to as “the ordinary, reasonable man” standard. Legal liability is assessed when a person fails to follow society’s most basic “rules of...
Read More Continue ReadingHow does Property Pass to Beneficiaries? Do you know who your beneficiaries are? When we ask clients this question, their first response is often quick and affirmative. However, we frequently discover through the estate planning process that the beneficiaries listed on our clients’ life insurance policies and retirement accounts are...
Read More Continue ReadingTennessee is NOT a Community Property State Community property states such as California and Texas, permit assets to receive a step-up in basis to the current fair market value (FMV) at the death of the first spouse to die regardless of which spouse owns the assets. Tennessee is a separate...
Read More Continue ReadingHalloween – Your Legal Duty of Reasonable Care Halloween is always a great time of year – costumes, hayrides, haunted houses, and candy! However, homeowners should be mindful of the responsibility they owe visitors to their property. Later this evening, many of you will have a variety of ghosts, princesses,...
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