Bill of Sale – Legal Form Explained




A “Bill of Sale” is a legal form that is used when you sell or transfer the ownership of goods or items such as a car, boat, equipment, photocopier, computers, furniture, or other assets from a seller (also called a “vendor”) to a purchaser. A Bill of Sale may also be used for the purchase and sale of intellectual property such as a customer list or a website. A typical Bill of Sale is provided by the seller to the purchaser and depending on the circumstances usually describes: (i) the names of the vendor and purchaser, (ii) a list of the items being purchased and sold, (iii) the purchase price and method of payment, and (iv) possibly also various legal terms depending on the complexity of the transaction. Sample Bill of Sale documents can be found online.

If you are purchasing a business and as part of the purchase you are purchasing all the equipment (eg. furniture, chairs, office equipment, inventory, and supplies), you should request that the seller provide to you a Bill of Sale agreement. One of the main reasons why a purchaser wants to receive a Bill of Sale from the seller is to prevent the seller from later claiming that the seller owns the items listed on the Bill of Sale document. Essentially the Bill of Sale is a receipt or a written record of the purchase and payment of the purchase price similar in nature to the sales receipt you receive from the cash register at the time you purchase an item at a retail or convenience store.

The Bill of Sale is similar to a “sales receipt” however it may also contain additional legal terms regarding the purchase and sale. The document will serve as proof of the purchase and sale of specified items listed on the Bill of Sale.

Other terms that you may wish to have in a Bill of Sale include terms dealing with such matters as the condition of the equipment (eg. “subject to being able to obtain financing”), and other provisions such as a “warranty” by the seller that the seller is the legal owner of the equipment being sold and the items are in good and working order. In the event that someone else claims they are the legal owners of the equipment, the “warranty” provisions in the Bill of Sale would give the purchaser some legal rights to make a claim against the seller. In the even that the item is damaged or doesn’t not work as claimed, the “warranty” provisions would also provide some legal rights for the purchaser.

It is critical to understand that obtaining a Bill of Sale from the seller is not a guarantee that the seller is in fact the legal owner of the items listed on theBill of Sale. Technically, one cannot sell what they do not own. By extension, when someone purchases something they only acquire the legal rights in the items to the same extent that the seller possesses. As such, if the seller is not really the legal owner of the items, then the seller has no legal rights of ownership, and therefore the purchaser acquires no legal rights of ownership in the items on completion of the purchase. For example, the items purportedly being sold by the seller may actually be items that the seller has does not legally own but has only leased from a supplier and not actually purchased them. An example of such a situation is someone trying to sell a photocopier that is actually only leased. In such a case, the seller does not actually own the photocopier and does not have the legal right to sell it, even though the seller may be physically in possession of the photocopier. As such one must be careful when purchasing used items or items from someone other than the manufacturer or a retailer or a distributor. If the purchaser is buying new goods from a manufacturer, retailer, or distributor then usually there is little risk that the seller is not the legal owner of the items and the purchaser can be relatively confident that they are purchasing the items from the true owner of the items.

If the items being purchased are either used items or are new items but are being sold by someone other than the original manufacturer, retailer or distributor of the items, there is a risk that the items may be actually legally owned by someone other than the seller and in such a case the true legal owner has the legal right to recover the items from the purchaser notwithstanding that the purchaser paid for the items and has a Bill of Sale from the seller. As such, if the purchaser is not careful, the purchaser may find itself paying for items but not actually acquiring ownership of them.. In such a case, all is not lost for the purchaser because theBill of Sale may be used by the purchaser in a lawsuit by the purchaser against the seller to claim monetary damages incurred by the purchaser for breach of contract, specifically breach of “warranty” (provided that the Bill of Sale is written properly. In order for the purchaser to avoid the above situation and to be protected as much as possible, it is important that when using a Bill of Salethe purchaser also examine other documents that are in the possession of the seller so that the purchaser can satisfy itself that the seller is in fact the true owner of the items being sold. For example, in the case of used goods, the Purchaser should ask the Seller to provide a copy of the original purchase order showing where the Seller originally purchased the items. If the Seller is unable to provide any documentation, then the Purchaser needs to be careful in proceding forward. The purchaser may also wish to do a search in the local government office for any liens that have been registered against the items being sold or the seller.

The use of various legal forms are useful for transactions and can be found online. Please note that the information in this article is for discussion purposes only and not intended to be free legal advice. It is by no means legal advice or even a statement of the law on this subject. Please do not rely on the accuracy or completeness of this information. Any question or concern elicited by the information on this page should be taken to a lawyer who will consider the facts of each case and the legal remedies available.



Legal Issues with Electronic Medical Records




cal practices change over from paper to electronic medical records (EMR), steps must be taken to ensure that the records remain legally sound. The change to electronic medical records brings up some issues with compliance, privacy, and security. Below you will find some important considerations to make when switching your practice over to EMR.

When writing and exam on a piece of paper and signing it, you create a legal document. You are most likely familiar with the problems that can result from changes to medical records, and the importance of good documentation. The Healthcare Information and Management Systems Society (HIMSS) asserts that electronic medical records must be stored legally. Otherwise, these records can be challenged as hearsay and deemed invalid.

This is important, because when electronic medical records do not meet the legal requirements, a payor can sometimes deny a claim. Also, you could create the risk of an adverse outcome in litigation. In addition to being sure your electronic records aren’t altered, you must also be able to demonstrate the procedures which are used to ensure this.

How, then, can you be sure your electronic records can’t be altered? Ask yourself the following questions:

Does the system keep a record of who is accessing and writing to the record? You wouldn’t want your name appearing as the author of another user’s entry.

Does it contain a security protocol which is strict but not too time consuming? Features could include an automatic time-out after a period of inactivity, and periodic changes to the alphanumeric passwords.

Does it use a secure ‘lock-out’ feature? Perhaps the doctors could be able to make changes at the end of the day, but after a certain amount of time has passed the record should lock.

Does the system write time stamps on all entries to show an audit trail? For example, the system could write an unalterable draft of each event and entry.

By paying attention to these important considerations, you’ll be on your way to ensuring your electronic medical records system is legal and usable.

Patient Privacy

Do you remember when the HIPAA first appeared on the scene? No more can you even keep a patient check-in form at the front desk, or risk having a patient learn who else had been in on that day. The penalty could include jail time.

Undue Burden

Some recent legal cases have established that data which is accessible must be able to be produced, including backup data. Although this may seem an unfair burden for a medical practice, experts dealing with these sort of legal cases believe that EMR will result in a decrease of malpractice suits, as as result of better documentation and a lower rate of medication-related mistakes. Even so, if data is kept on a failed hard drive, and the costs of recovering the data is significant, it could create an undue burden; judges could rule that the expense be shared between the two parties.

Accessibility

In the world of paper records, charts that are more than seven years old that were purged are considered legally ‘inaccessible.’ If a plaintiff’s attorney asks you to produce the record, it is impossible. When it comes to electronic information, however, inaccessibility could be more difficult to prove, as electronic data can almost always be recovered. In fact, most of the current EMR software systems don’t even let a provider delete patient records.

E-Discovery

Discovery is the pre-trial phase in a lawsuit. Each party can compel production of evidence by means of a subpoena or a deposition. E-Discovery refers to information saved in an electronic format. The collection of digital evidence has even spawned the field of cyberforensics. This column cannot adequately cover a topic as broad as E-Discovery. The bottom line for medical practices is that a reliable and secure backup process is a must.

Eventually, rational minds emerged victorious, and some of the more inane regulations have relaxed a bit. There are still privacy issues which are specific to the electronic aspects of medicine, in regard to inappropriate disclosure of patients’ data. An unauthorized email, unsecured wireless network, a computer monitor left on in view of another patient are some prime examples.



I Don’t Need a Pre-paid Legal Plan




Well, you may want to reconsider if this is your belief. It is one of the cheapest expenses members have and by simply updating their Will they easily recoup their investment. I will not try and give all of the compelling reasons to have one in this article, but I will point out some interesting facts that may make you rethink your position. A pre-paid legal plan may not be for everyone but it can prove to be very valuable if your lifestyle dictates regualr contact with an attorney. I am not referring to habitual criminals either.

Think about every other insurance you have “just in case” and how much you are willing to pay to protect your assets. Would you not agree that the best asset you have is your good name and reputation? Without it you would not have a home, car or boat to insure. Homeowner’s insurance covers damage to your home in the event of a fire or a tree falling through it. If you were to die, you have life insurance so that your family is taken care of financially, your debts are paid off, and your funeral costs are covered. Likewise, you maintain automobile insurance just in case your car needs repaired due to theft, accident, or other reasons. Most of us also have health insurance because we need to be healthy to pay for all of the above.

Without a doubt, you are much less likely to use your homeowner’s insurance policy due to home damage than you are to have a legal issue unless you have a child that likes to play with matches a lot. However, every month you gladly pay the premium for your home to have the protection it needs. It is a no brainer to make sure your house is covered and it should be the same from a legal standpoint. Whether you need a legal document reviewed or representation in court because someone decided they want to sue you, coverage is available at a low cost.

If you had a pre-paid membership in place then how much easier would it have been to deal with a legal issue? That is exactly the point I am conveying to you in this article. I have heard the cons along with the pros for having a Pre-paid legal plan and when it all comes down to it; it makes all the sense to have legal service coverage. From general everyday legal concerns or questions to having your last will and testament updated annually, you can be empowered with the protection you need in our litigious society. Find out more about this beneficial insurance for you and your family.



Information of Hotel Industry Laws in India – Part1




Opportunities Applicable laws/regulatory policies.

Introduction

Hotel Industry in India is witnessing tremendous boom in recent years and going through an interesting phase. One of the major reasons for the increase in demand for hotel rooms in the country is the boom in the overall Economy and high growth in sectors like information technology, telecom, retail and real estate. Rising stock market and new business opportunities are also attracting hordes of foreign investors and international corporate travelers to look for business opportunities in the country particularly growth in tourism sector. As hotel industry is inextricably linked to the tourism industry and the growth in the Indian tourism industry has fuelled the growth of Indian hotel industry.

Explosive economic growth in India ignites unquenchable demand for hotel rooms. With huge investments flowing into India for the development of infrastructure such as roads, highways, airports and convention centers, interest in hotel developments is hitting new highs as tourism, business and travel are on the rise.

The booming tourism industry has had a cascading effect on the hospitality sector with an increase in the occupancy ratios and average room rates. And with the continuing surge in demand, many global hospitality majors have evinced a keen interest in the Indian hospitality sector. It is estimated that India is likely to have around 40 international hotel brands by 2011.

Opportunities

The spurt in India’s tourism industry growth has had a ripple effect on its hospitality sector. Rising income levels and spending power combined with the governments open sky policy have provided a major thrust. The industry is growing at a very rapid pace and there is a demand for more rooms both in metros and smaller towns. It is estimated that India is likely to have around 40 international hotel brands by 2011.

India’s booming hospitality industry has transformed into a veritable basket of the choicest of rooms, food and beverage, health and business facilities, travel packages and everything that you can think of. New global entrants are vying with existing local players to provide world-class services at prices suited to every pocket.

An estimated 4.4 million tourists are expected to visit India with an annual average growth rate of 12% in the next few years. The domestic tourist market is also flourishing. The commonwealth games in 2010 will add to the demand for quality accommodation.

The Government of India’s Incredible India destination campaign and the Atithi Devo Bhavah campaign have also helped the growth of domestic and international tourism and consequently the hotel industry.

The opening up of the aviation industry in India has exciting opportunities for hotel industry as it relies on airlines to transport 80% of international arrivals. The government’s decision to substantially upgrade 28 regional airports in smaller towns and privatization & expansion of Delhi and Mumbai airport will improve the business prospects of hotel industry in India. And the upgrading of national highways connecting various parts of India has opened new avenues for the development of budget hotels in India. Taking advantage of this opportunity Tata group and another hotel chain called ‘Homotel’ have entered this business segment.

If you want to read article go to second part of this – Information of hotel industry laws in india – part2.