Do I need a license / permit to open my business?
That depends on what type of business you own. Many businesses do not need any special licenses or permits in order to operate their businesses. However, some businesses that engage in …
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What steps should I take to start a business?
When starting a new business, several key decisions must be made regarding the organization, financing, management, and operation of the business. First, you should do your homework – …
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Do I Need a Taxpayer Identification Number for my Business?
A taxpayer identification number (TIN) is a number used by the Internal Revenue Service (IRS) to identify people and companies. Most companies need to file with the IRS to receive an Employer …
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An Overview of the Uniform Commercial Code
Each state in the United States has the authority to enact its own laws. While federal laws apply equally to all states, state law is only applicable to matters that occur in that state’s jurisdiction. Generally, this system works well. However, there are matters were uniformity among the state laws are desirable. Commercial transactions, which often occur in more …
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What Happens When a Contract is Broken?
A contract is a legally enforceable agreement between two or more parties. So, how do you enforce it if it is broken by one of the parties? That depends on how exactly the party breaches the contract. A minor, or nonmaterial, breach of contract entitles the non-breaching party to actual damages suffered. Therefore, if your mechanic used a different brand of oil that was of at …
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