The Uniform Partnership Act (UPA) is a set of laws governing partnerships that was first promulgated in 1914 by the National Conference of Commissioners on Uniform State Laws (NCCUSL). The UPA has been adopted, in whole or in part, by 47 states, the District of Columbia, and the U.S. Virgin Islands. The UPA is designed … Read more
Common Law: What It Is, How to Use It, and Its Differences From Civil Law How do you prove common law? The common law is the body of law derived from judicial decisions of courts and similar tribunals. The defining characteristic of “common law” is that it arises as precedent. In cases where the parties … Read more
The National Retail Federation (NRF) is the world’s largest retail trade association, representing over 3.6 million retailers of all types and sizes in the United States. The NRF’s mission is to advance the interests of the retail industry through advocacy, communications, and education. The NRF is headquartered in Washington, D.C., and has a staff of … Read more
De Novo Judicial Review Definition: De novo judicial review is a process used by courts to review a lower court’s decision. This type of review allows the court to make its own determination on the case, without being bound by the lower court’s decision. De novo review can be used when the lower court’s decision … Read more
A civil money penalty (CMP) is a monetary fine imposed by a federal agency on a person or entity for violating a federal law or regulation. CMPs are often imposed in addition to other penalties, such as criminal fines or restitution. Federal agencies may impose CMPs for a variety of reasons, including: – To punish … Read more
Who qualifies as a qualified institutional buyer (QIB)? What happens if QIB is not subscribed? If a QIB is not subscribed, the following things can happen: 1. The company may not be able to raise enough capital. 2. The company may have to offer more shares at a lower price, which can dilute the value … Read more
A writ of attachment is a legal order issued by a court requiring a person or entity to surrender property to a creditor. The writ is used to collect on a debt or judgment, and is typically issued when a debtor fails to respond to a summons or other legal notice. In many jurisdictions, a … Read more
Its Purpose and Requirements. A non-compete agreement is a contract between an employer and employee in which the employee agrees not to compete with the employer during or after the employment relationship. Non-compete agreements are also known as restrictive covenants or non-competition clauses. The purpose of a non-compete agreement is to protect the employer’s business … Read more
