The 5 Elements That Constitute a Binding Contract

In order for a contract to be legally binding, a few key elements must be demonstrated. In certain instances, additional features may be added to cover the best interest of the signing parties, but these five points will cover the major requisites. Offer Acceptance Consideration Mutuality of Obligation Competency and Capacity Legally

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The Role of External Consultancy In A Closely Held Corporation

Some Limitations and Restrictions Closely held corporations, sometimes called close corps, are companies controlled by a small number of shareholders. In most cases, the original investors maintain control of their shares for the long-term, with little interest in selling shares or relinquishing any powers. “Closely held” is defined by the IRS as

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Mergers and Acquisitions: Taxable Acquisitions & Tax-Deferred Reorganizations

This article will provide a brief overview of certain taxable transactions and the ramifications in M&A transactions, including those certain tax-deferred reorganizations under §368 of the Internal Revenue Code.  Often, due to the fact that the taxes are deferred under IRC §368, these M&A transactions are referred to as “tax-free.”