Yearly Archives: 2012
Exemptions from Attachment: A Last Resort for Debtors and a Planning Factor for Creditors
It is, of course, preferable not to be sued, and if you are sued, it is obviously better to win your case and not have a judgment entered against you. The judgment itself is bad for your credit, but the execution proceedings that may follow… Continue reading
The Queen’s English Tis the Season: Some Old Chestnuts
(a) “Bring and take: the New York mistake.” (A charming, and true, ditty). If the object to be moved is there, and I’m here, I say to the person who’s there, “Bring me the book.” If the object is here, and it is to… Continue reading
Hold the Lemonade!
In 1958 Pennsylvania adopted the Automobile Lemon Law which requires a manufacturer to “repair or correct” a new car that has any “non-conformity which substantially impairs the use, value, or safety” of a new car within the manufacturer’s warranty or the first 12,000 miles, whichever… Continue reading
Bar Bikers Beware
We have heard about so-called “Biker Bars” and today we will coin a new term: “Bar Bikers.” Bar Bikers are people who ride their bikes to the bar, have a few drinks, and later ride off on their “merry” way. Bar Bikers can be… Continue reading
Builders of Homes Liable to Subsequent Purchaser for Breach of Warranty of Habitability
Pennsylvania case law had previously decided that there is an “implied warranty of habitability” for new homes purchased from a builder. An “implied warranty of habitability” is an assurance that the home is suitable for human living. The courts extended that… Continue reading
Latin Lovers for Typists
“Stet” is a Latin word meaning “let it stand.” It’s traditionally used as a proofreader’s mark or direction to a typist or typesetter. The instruction means that a previous change should be ignored and the text should be left in its original condition. Thus,… Continue reading
The New Year’s Checklist for Employers
The New Year is an opportunity for business owners to review various aspects of their business and to make changes to improve its operation. One issue an owner may want to evaluate is whether it has an employee policy manual otherwise known as an employee… Continue reading
HAMP and the Mortgage Crisis
In the five years or so prior to 2008 there was a party of unprecedented magnitude. Invited to the affair were mortgage brokers, banks, title companies, appraisers, real estate brokers, and, oh yes, the homeowners. Exactly what launched the process will be for social historians… Continue reading
Family Farms Now Exempt from Inheritance Tax
In June 30, 2012, Governor Corbett signed into law legislation that would exempt family farms from Pennsylvania Inheritance Tax. Farm estates are often large, and they are usually “illiquid” (i.e., the typical family farmer is “land rich” and “cash poor”). As a consequence, the inevitable… Continue reading
You Can’t Take it With You…
For individuals with substantial estates, 2012 presents what may be a “once in a lifetime” opportunity to take advantage of the Federal gift tax exemptions. Gifts to family members can be a favorable way to “shrink” your estate to avoid estate tax on death. Here… Continue reading