Tag Archives: business law

How to Spot Financial Fraud in Your Business

There are many things to look out for when you own a business, or even if you work in a company as a regular employee. Fraud can happen anywhere and at any time, but it is especially prevalent in small businesses. This is because it can be easy to have internal theft where there aren’t a plethora of security measures and controls in place. There are ways, thankfully, that you can look out for fraud in your business’s finances. Increase eyes on financial records: In small businesses there are usually only one or two people handling the business’s finances, such as the sales receipts, payroll, deposits, check writing and any other cash activity in the accounting system. In order to reduce the chance of fraudulent activity, make sure all cash transactions are reviewed by others. Conduct strict background checks: You want to instill the idea that everyone is being watched,…
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How Do Trust Disputes Occur in Commercial Litigation?

When you own or co-own a business, there are many different disputes that can arise between other parties that are involved or have a stake in your company. Business trust disputes occur when an investor (trustor) sues its trust company. When creating a trust, the trustor and trustee sign a written contract under which the trust property is controlled by the trustee. Business trust disputes often occur within these trust contracts, but these kind of contract disputes are pretty different than normal contract disputes. What is a Business Trust? A business trust is created by a contract between the trustor and trustee. However, it would be unwise to view a trust only as a contract because it includes additional elements that a contract does not. The legal basis for a trust is to maintain dual property ownership under common law. This means that a trust’s duty is to protect the…
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Posted in Business and Commercial Law | Tagged , | Leave a comment