Where Did Our Business Laws and Regulations Come From - How Have They Changed?

By Lance Winslow

The Business Laws in our nation and our regulations have become so complex they seem to be choking the viability of not only our court system, but also adding layers of laws to companies to the point of suffocation.

The bureaucracy is not only in government, but it has reached all levels of business small, medium and large. Of course, some rules of the game are needed to help our economic machine with standardization.

But, with all the case law, written laws and lawsuits, the laws no longer serve the purpose of allowing business to know in advance what to expect or give them adequate measure to dictate policies within their companies.

One thing that I have noticed is that if you pick up an old business law book prior to 1940, well, there is no much in it. It's pretty simple and down to earth. When reading through the chapters you'll find that it all makes sense, it's all traceable and you can find meaning.

Today things are much different. I would advise any MBA student or individual looking to get into business law to read old business law books and text books. In fact, let me recommend a very good one to you that I have in my own personal library:

"A Text Book of Law and Business" by William H. Spencer; McGraw-Hill Book Company Incorporated; New York, NY; 1938.

If you ever find yourself asking the questions; 1.) Where Did Our Business Laws and Regulations Come From or; 2.) How Have Our Business Laws Changed Over the Years? Then just reading through this work will shed some light on the subject. So, think on it.

"Lance Winslow" - Lance Winslow's Bio. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.

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Tags: Business Laws

New Bankruptcy Laws and the Crucial Changes

By Dale P. Stewart

With the recent economic downturn, seems like filing bankruptcy seems to be the only option people can think of. Strapped of cash and their jobs, and with dues and debts mounting, a lot more people are lining up to file the Chapters on their names. No wonder, the Federal Government has been forced to sit back and take corrective actions by making new bankruptcy laws.

No one would want a bankrupt state where more than 90% individuals go bankrupt. This possibly prompted the Federal Government to bring about a change in the laws of Chapter 7.

So, what is Chapter 7 Bankruptcy all about?

Understanding Chapter 7 Bankruptcy becomes of critical essence for you. An individual filing for Chapter 7 is relieved of all his debts and financial obligations. Once an individual is declared bankrupt under Chapter 7, creditors can no longer pursue efforts to extract their dues from the individual.

What are the New Bankruptcy laws about Chapter 7?

New bankruptcy laws have changed some statutes of Chapter 7 Bankruptcy. Find below some new bankruptcy laws given for your benefit.

Restricted eligibility for filing for Chapter 7 Bankruptcy

Earlier, you could decide which chapter you would wish to file for. With the new bankruptcy laws, your monthly income would be measured against the median income of the state. You could file for Chapter 7 bankruptcy, if your income is lesser than the median income of the state.

Means Test

The objective of the Means test is to determine if you have enough money to handle your financial obligations. Your income is taken into one hand, and all other expenses are subtracted from the income. The remaining amount is compared with a standard amount that is used as a benchmark.

If the amount in your case is below the benchmark amount, you could file for Chapter 7. Chapter 7 bankruptcy essentially means liquidation, under which all your assets would be liquidated off to pay the debts of your creditors. Chapter 13 bankruptcy is repayment. The new statutes of the Federal Government of the USA strive to get a lot of people who are lining up to file for Chapter 7, to file for Chapter 13. This allows creditors to claim their monies back from the borrowers in a legal manner.

Whether Chapter 7 or Chapter 13, filing for bankruptcy is not a milestone event at all for any individual! With credit scores destroyed par recognition, it is a long and hard battle for them to lift themselves up.

You need to know all about the new bankruptcy laws before you even consider filing for bankruptcy. Visit here to find out more: http://www.creditcardbankruptcyinfo.info/New-Bankruptcy-Laws.html

Find out if you even qualify to file for bankruptcy.

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Tags: Bankruptcy