Business Address

Law Office of Randall A. Fischer P.A. At Stuart

2100 SE Ocean Blvd #203, Stuart,
Martin, Florida 34996
Phone: (772) 463-7737


Randall A. Fischer, P.A.

725 SE Port St Lucie Blvd #206, Port St. Lucie
St. Lucie, Florida 34984-5232
Phone: (772) 463-7738


Randall A. Fischer, P.A. Law Office At Jupiter

1080 East Indiantown Road #104
Jupiter, Florida 33477
Phone: (561) 316-7111


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Lawyer Palm City FL

What does Duress Mean?

What does Duress Mean?

Duress may have been mentioned in the past as a method by which someone could break a contract, however, what does duress mean?  Legally, it is a set of circumstances whereby the individual under duress involuntarily accepted the terms of another; that those circumstances permitted no other alternative and that those same circumstances were the result of the coercive acts of the opposite party.  That is a mouthful and may appear to be a bit confusing.

I have heard clients arguing duress as a defense when they had many alternatives available and although they perceived they were under a coercive pressure, it was more a perception than a reality.  Duress is a viable defense.  For example, the video below mentions signing a contract or there will be serious bodily harm.  That, it could be argued, is duress.  However, duress is not as cut and dry as it would first appear.  Issues as to whether the party arguing duress behaved in a voluntary or involuntary manner or whether there existed no other alternative.

Whether or not there is another alternative is a very intriguing proposition when addressing the question:  What does Duress mean?  Often, clients argue they signed under duress because the contract they signed or the agreement they made was the best alternative considering their situation.  It was not the optimal outcome and often far from it.  However, there is a perception of pressure which has placed them in this difficult position.  Unexplored alternatives is one of the very reasons it it important to discuss your options with a Lawyer prior?  Duress is a viable defense but should be carefully analyzed to see if it is a viable defense.

I hope this brief discussion has been helpful.  If you find yourself in a difficult situation and feel you have no other alternative, call a lawyer.  If you live in Stuart, Port St. Lucie or Jupiter, give my office a call.  It is important to make the call before you get into a situation whereby you have to assert duress as a legal defense.  The only way to find out is to make the call.

I appreciate the time you have taken to review my website.  Thank you and have a wonderful day.

What does a Charge off mean on a credit Report?

What does a Charge off mean on a credit Report?

Clients have come in with their credit report in hand wondering why they are receiving collection letters from a collection agency or a law firm requesting payment for a debt that has been charged-off on their credit report.  “How can they charge me for a debt that has been charged-off?”  “I thought a charge-off meant I was no longer responsible to pay this bill!”  It is even worse when a client comes in with a summons and complaint for a debt they believed they were no longer obligated to pay because it was showing as “Charged-off” on their credit report.

What does a charge off mean on a credit report?  It is an internal accounting method used by the creditor to indicate a change in the status of the obligation on their ledger.  It does not waive the obligation to pay.  Often the debts, if assignable, are sold for less than what is owed.  The third party assignee will then continue to collect or file an action to collect the debt.

Misinformation can lead to problems down the road.  Get the facts.  If you do not know what something means do not rely on what you may have heard somewhere, ask a professional or conduct your own research.  I am a lawyer in Port St. Lucie, Stuart, and Jupiter FL.  I have had cases throughout south Florida dealing with a wide array of financial issues for businesses and individuals.  If you find yourself in a precarious financial position and need help, please give me a call.

 

What does indemnification mean?

What does indemnification mean?

Law Firm serving Stuart, Port St. Lucie and Jupiter FL

Indemnification is not a term to be taken lightly in a contract.  When one party indemnifies another, they are agreeing to compensate or guaranteeing against the loss of another party.  In layman’s terms, the person indemnifying is agreeing to pay for or cover the losses of the party they are indemnifying.  Indemnification is a method of shifting the risk associated with a contractual relationship.  It is very important to understand the context of how the term is used in a contract to fully evaluate the potential exposure when entering the agreement.

Know what you are agreeing to before you agree to it.  Indemnification is not just a big legal word.  It carries huge potential implications.  If you are negotiating a contract or are co-signing an agreement as a guarantor, or entering a lease, or any other agreement, it would behoove you to contact a lawyer to review it before you sign.  After you have signed it, it is too late.  You have already agreed to the terms.

If you need lawyer to review or help negotiate a contract in Stuart, Port St. Lucie or Jupiter FL, please give my office a call.

Thank you for visiting my website!

 

What is a 1099-C?

What is a 1099-C?

As tax time rolls around, clients begin to call asking about receiving a 1099-C for debts settled in the previous tax year. The 1099-C is for Cancellation of Debt Income for the previous tax year. This can be issued for several reasons. What usually happens for my clients is we have negotiated a settlement for less than what was owed on a debt for the previous tax year. The 1099-C is generated by the creditor indicating the difference between the debt owed and the settlement amount.

A quick example would be as follows: Client has a credit card debt of $10,000.00. We negotiate a settlement in the amount of $3,000.00. Client receives a 1099-C from the creditor in the amount of $7,000.00. Whether or not this is subject to taxation is an issue you should discuss with your accountant.

It is important to understand as the debtor that debts settle for over $600.00 or more may generate 1099-C, which could increase your tax liability. The liability will be less than the original debt owed. However, often, it is forgotten until the 1099-C is received the following January.

If you have any questions regarding Bankruptcy, Debt Settlement, or need a Lawyer for a civil litigation matter and live in Stuart, Port St. Lucie or Jupiter, please give me a call. Thank you so much for visiting my website. The video below briefly discusses what a 1099-C is and how to address it. If you feel you have received a 1099-C improperly, do not ignore it, contact your accountant.

Contract Lawyer Stuart FL

CONTRACT LAWYER STUART FL

JOINT AND SEVERAL LIABILITY

What is joint and several liability mean and what happens if I have signed a contract subject to joint and several liability?  Joint and several liability mean any and all of the parties subject to the clause are liable  for the for the amount due under the contractual agreement.  It does not mean that each party subject to the agreement is responsible for their share of the obligation.  The entire liability can be collected from one or more of the parties.

This is a very important clause to fully understand when signing any agreement.  To misunderstand the extent of liability. could be a very expensive mistake.

As a contract lawyer in Stuart, Port St. Lucie and Jupiter FL, I have had many clients misinterpret this term or other terms in a contract.  Knowing the liability associated with the agreement is critical to a successful endeavor.  If you need a contract lawyer in Stuart, Port St. Lucie or Jupiter FL, please give me a call.

I have loaded a video below which touches on the issue of joint and several liability for contracts.  Thank you for reviewing my website, if you have any legal questions, please don’t hesitate to call.