by: David E. Greenberg In discussing the out of business corporation, one must first understand the nature of corporations in this country. The U.S. corporation is a legal entity unto itself, separate from the principals or directors. In other words our law regards a corporation as an actual person, complete with its own life, health, […]
Final and Binding Arbitration
A Quicker, Cost Effective Alternative to a Lawsuit Move your receivable disputes out of the courtroom and into the conference room – and you could drastically cut your international litigation budget! Opting to go with Final and Binding Arbitration not only reduces expenses – it can speed up your recoveries as well. What is Final […]
D/P, D/A, and Their Use in International Sales Transactions
Most sellers are very familiar with Open Account (O/A) and Letter of Credit (L/C) transactions. In the international arena, open account sales are regarded as having the most risk; letter of credit transactions as having the least. Between these two poles, however, are two lesser-known transaction types: Documents Against Payment (D/P) and Documents Against Acceptance […]
Countersuit and Consequence
Just when you thought everything about your lawsuit against a U.S. debtor was going smoothly … BANG! The defendant files a countersuit against your company. What is a countersuit? It’s a lawsuit filed by a defendant against a plaintiff in direct response to a suit brought against the debtor by that plaintiff. The countersuit asserts […]
The Choices of Law and Venue in Sales Contracts
Throughout the world, there are competing legal systems of civil law used to govern the transactions occurring between international buyers and sellers. Here in the USA, our laws are mainly derived from English Common Law. The French have Napoleonic Law, while most Latin countries are steeped in both Roman Law and Spanish Civil Law and […]