LawPhobia (@lawphobia) 's Twitter Profile
LawPhobia

@lawphobia

More people will seek #Justice if the cost is affordable.

ID: 3049337774

calendar_today28-02-2015 10:00:53

7,7K Tweet

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1 June, John grants Bank A mortgage over his house for a loan of $500k 30 June, John grants Bank B a mortgage over the house for a loan of $300k John fails to repay both loans, current market value of the house is $600K Which bank is more likely to recover its loan in full?

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- A is the registered owner of a house - A signed SALES agreement to sell the house to B - Settlement 4 weeks later Before the settlement, WHO owns the “fee simple” interest of the house? #LawPhobia #KnowTheLaw

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Any legal entity can own shares, eg. individuals, trusts, and other companies may hold shares in a company. #KnowTheLaw #LawPhobia

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AS A SOLE PROPRIETOR, no distinction is made between the business and personal assets of the individual, a business creditor can attack the personal assets of the individual in order to satisfy any outstanding business claims. #KnowTheLaw #LawPhobia

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“Jurisdiction” means the power of a court to: A. hear a case B. decide the questions that arise in the case C. enforce its decisions #LawPhobia #KnowTheLaw

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A failure to understand the other party’s needs is a major reason for unsuccessful negotiations #LawPhobia #KnowTheLaw