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WHAT IS THE SHERMAN ANTITRUST ACT AND HOW DOES IT APPLY TO FORECLOSURE SALES?

The Sherman Antitrust Act was enacted in 1890 to curb concentrations of power that interfere with trade and reduce economic competition. It was named for U.S. Senator John Sherman of Ohio, who was an expert on the regulation of commerce. One of the act's main provisions outlaws all combinations that restrain trade between states or with foreign nations. This prohibition applies to any agreement to fix prices, limit industrial output, share markets, or exclude competition. Price fixing, bid rigging, and market allocation are violations and often are prosecuted criminally, but there is also civil liability for such actions. Criminal enforcement ...

February 19, 2018|Real Estate Law|

Knowing When Accounting Malpractice Occurred Is Important

In the state of Mississippi, the statute of limitations for filing a suit against a professional for breach of contract or negligence is three years. That means any action must be filed within three years from the time the wrongdoing occurs or accrues. Certain mistakes an accounting professional has made due to negligence, such as a poorly performing an audit that led to a payment of back taxes that were not owed, will hopefully come to light within this time frame. If there are some questions about your accountant’s performance, consulting with an accounting malpractice attorney should take place to ...

February 17, 2018|Accounting Malpractice|

IT’S TIME TO REVIEW YOUR WILLS, TRUSTS & OTHER ESTATE PLANNING DOCUMENTS

It is advisable for individuals to review wills, trusts and other estate planning documents periodically. The end or beginning of each year is a good time for this. When reviewing estate plans, individuals should consider these questions: Do the provisions still accomplish your goals? Have your documents been updated to take advantage of changes to tax laws? Do your documents contain provisions that provide asset protection to your children, grandchildren and other loved ones? Are the fiduciaries named (Personal Representative/Executor, Trustee, Power of Attorney/Agent-in-Fact, Health Care Agent) still appropriate? Are your Durable Power of Attorney and Living Will on file ...

February 1, 2018|Estate Planning|

WHAT IS A PASS-THROUGH ENTITY?

Most businesses in the United States are organized as pass-through businesses, such as sole proprietorships, partnerships, limited liability companies and S corporations. According to the Brookings Institution, about 95 percent of businesses fall into that category. These entities are called pass-throughs, because their profits are passed directly through the business to the owners and are taxed on the owners' individual income tax returns. Income earned by a business organized as a pass-through entity must be distributed as taxable income to its owner, members or partners. The pass-through entity itself doesn't pay income taxes, but it also can't defer tax on ...

January 31, 2018|General|

Happy Holidays!

The attorneys and staff at Rushing & Guice, P.L.L.C. wish you peace and prosperity throughout the coming year. During this season, we take time to reflect upon the good things we have, like our relationship with you. We thank you for your continued support and we look forward to working with you in the years to come. We hope that 2017 has been just as memorable for you, your colleagues and your loved ones and we trust that the holidays and the coming year will bring you happiness and success. May your holidays and New Year be filled with joy!

December 15, 2017|General|

WHAT IS A HEALTHCARE SURROGATE?

§ 41-41-211 of the Mississippi Code states that a surrogate may make a health-care decision for a patient who is an adult or emancipated minor if the patient has been determined by the primary physician to lack capacity and no agent or guardian has been appointed or the agent or guardian is not reasonably available. An adult or emancipated minor may designate any individual to act as surrogate by personally informing their supervising health-care provider. In the absence of a designation, or if the designee is not reasonably available, any member of the following classes of the patient's family who ...

November 29, 2017|General|

IS AN ELECTRONIC SIGNATURE VALID?

The Uniform Electronic Transactions Act (UETA) goes hand-in-hand with the Electronic Signatures in Global and National Commerce Act (ESIGN Act), in that both were enacted to help ensure the validity of electronic contracts and the defensibility of electronic signatures. The UETA gives states a framework for determining the legality of an electronic signature in both commercial and government transactions. Although there are many similarities between the UETA and the ESIGN Act, there are a few major differences that are worth pointing out. The most obvious difference has to do with governance. The ESIGN Act is a federal act, which means ...

November 29, 2017|General|

What is White-Collar Crime?

The phrase "white-collar crime" was first used in 1939 during a presidential address given by Edwin Sutherland to the American Sociological Society. Sutherland defined the term as "crime committed by a person of respectability and high social status in the course of his occupation" and the term is now synonymous with the full range of frauds committed by business and government professionals. These crimes are most often characterized by deceit, concealment, or violation of trust and are not dependent on the application or threat of physical force or violence. The motivation behind white-collar crime is financial-to obtain or avoid losing ...

October 31, 2017|General|

WHAT IS A CITIZEN’S ARREST?

A citizen's arrest is an arrest made by a person who is not acting as a sworn law-enforcement official. In Mississippi, a citizen's arrest is authorized by Miss. Code § 99-3-7, which states that a private citizen may arrest any person without a warrant, for an indictable offense committed, or a breach of the peace threatened or attempted in his presence; or when a person has committed a felony, though not in his presence; or when a felony has been committed, and he has reasonable ground to suspect and believe the person proposed to be arrested to have committed it; ...

October 19, 2017|General|

Did Your Deceased Loved One Have A Life Insurance Policy?

The Mississippi Insurance Department, in partnership with the National Association of Insurance Commissioners (NAIC), now offers a free service that helps Mississippians search for and locate a deceased loved one's unclaimed life insurance benefits. The NAIC's Life Insurance Policy Locator provides nationwide access for assistance with finding life insurance policies and annuities. An estimated $1 billion in benefits from life insurance policies remain unclaimed according to Consumer Reports. A link to the service can be found on the Mississippi Insurance Department Consumer Service page of the department's website, www.mid.ms.gov. All requests are encrypted and secured to maintain confidentiality. Participating insurers ...

October 3, 2017|General|

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