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Robert A Shaines

Robert Shaines’s Answers

6 total

  • Do my parents have rights to the car?.

    My parents purchased a car for my wife and I. I currently had a vehicle so we had her name put first on the tittle and mine second. Now we are separated but not legally. She thinks she can keep the car because her name is first on the tittle. Do m...

    Robert’s Answer

    Your parents have no right to the car. they may have an action to recover on a debt if it is properly documented, otherwise it would be considered a gift. Since your wife is on the title you would need her agreement to transfer the title upon a a sale..

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  • I have a warrant for my arrest in one county and court on tuesday in another county. What are my chances of being arrested?

    I am unable to get all of my bond together before going to court Tuesday and I would just like to know if they will arrest me on the warrant which is out of another county than the county I will appear in.

    Robert’s Answer

    The appropriate thing to do is to call the clerk of court in each county explain the issue and then file a request to continue one of the matters to an alternate date.

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  • In a stock sale, does the owner/president of the corporation have a duty to maintain inventory to continue business as usual?

    I as buyer haven't said anything to seller about depleting inventory.

    Robert’s Answer

    Normally, in a stock sale there is a provision that the seller will contnue to operate the busines in the ordianry course of business. The result is that an inventory figure is not calculated until just prior to the closing by a physical cpount, since the inventory is a floating number depending upon sales between the time of agreement and the time of closing.

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  • I am transferring my business to my son. Can he keep the EIN?

    The name is going to stay the same and there are no outstanding issues.

    Robert’s Answer

    This depends on whether the transfer is an asset transfer or a stock transfer.If the business is an entity, such as a corporation or a Limited Liability Company, and the shares are transferred in the corporation or there is transfer of the membership interests in the LLC, then the EIN remains the same. however if the business is a sole proprietorship or the assets are transferred then a new EIN would be advisable. many sole proprietorships use the SSN of the owner and no separate EIN is used..

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  • I purchase a home about ten years ago and the square footage was less than was advertise. What legal option are available

    I purchase a house 10 years ago and the builder stated that the home was 1916 square feet. I recently refinance and the appraiser appraised the house at 1846 and I checked county records and that's what it listed at. Can I sue for false advertisi...

    Robert’s Answer

    The matter is complex.
    there are Statues of Limitation in every state that says one must bring an action within a certain time period otherwise the action is barred.there are exceptions such as if the matter could not have been reasonably discoverable in the exercise of due diligence when you purchased the home and is newly discovered , the Statute can be tolled; likewise if you relied on a home inspector and only now found out about the discrepancy you could probably maintain an action.You need to meet with an attorney in your jurisdiction to deal with this as there are many facts that could bar the action or permit it, as the case may be.

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  • In a stock sale of a business, who pays the fourth quarter bonuses...buyer or seller?

    selling a business

    Robert’s Answer

    This is a matter of negotiation and is ordinarily covered in the transaction documents. If it is omitted then the Buyer of the stock in the purchased corporation would have the obligation to see that all employee benefits not negotiated away in the sale are covered by the company.In a stock sale only the ownership fo the company changes the corporate entity remains in tact.

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