Frequently Asked Questions
Boerner, Dennis & Franklin, PLLC lawyers have been serving clients in Lubbock, Texas, and the surrounding areas for over 33 years. Here are some frequently asked questions regarding the different areas of law practiced at our law firm. We hope you find the information helpful.
- What are creditor rights?
- What is civil litigation?
- What issues need to be considered when forming a business?
- What type of clients require personal injury defense?
- How can a lawyer help with mergers and acquisitions?
Creditor rights is the legal term used to describe the set of procedural provisions designed to protect the ability of creditors to collect the money that they are owed. These provisions vary from one jurisdiction to another, and may include the ability of a creditor to put a lien on a debtor's property, to effect a seizure and forced sale of the debtor's property, to effect a garnishment of the debtor's wages, and to have certain purchases or gifts made by the debtor set aside as fraudulent conveyances. The rights of a particular creditor—whether a person, business, or other entity to whom you owe money—usually depend in part on the reason the debt is owed and the terms of any writing memorializing the debt.
Civil litigation is a legal dispute between two or more parties who seek money damages or specific performance rather than criminal sanctions. Civil litigation encompasses a broad range of disputes. Examples of civil litigation matters include—
When forming a new business you need to consider the following:
- The purpose of the business
- The legal structure it will adopt, such as sole proprietorship, partnership, or corporation
- The tax ramifications at federal, state, and local levels
- Documentation and licenses required
- Planning for the business estate in the event of retirement, death, or sale
Normally, personal injury defense clients include businesses or professionals and their insurance carriers. They are named in personal injury lawsuits by individuals who believe our client owes them a duty of care, and is therefore responsible to compensate them for their injuries and resulting losses, such as medical expenses, loss of income, and property damage.
Mergers and acquisitions refer to the aspect of corporate strategy dealing with the buying, selling, and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly without having to create another business entity. An acquisition is the takeover or buyout of one company by another and may be friendly or hostile. The acquired company ceases to exist from a legal tandpoint. A merger happens when two companies agree to go forward as a single new company rather than remain separately owned and operated. A lawyer can be helpful in negotiating the terms of the merger or acquisition, dealing with employee benefit and termination issues, and in forming or re-forming the new business entity that emerges.