NY LAW

Wes Hudson asked:


As part of President Obama’s 2009 Stimulus Bill and Economic Recovery Act, HECM (Home Equity Conversion Mortgage ) i.e. “Reverse Mortgage” FHA Appraisal Limits have been raised 150% from their current limit of $417,000 to $625,500. This is now law, as of February 18,2009.

Banks cannot originate them as of yet, HUD Must issue a Mortgagee Letter, which will outline the plan in greater detail. Hopefully, this will be issued in 30 days or less, and may have been done by the time you read this article. However, in the past, Mortgagee Letters have taken anywhere from 30 to 90 days. Hopefully, we will see the letter soon, as this limit has a “Sunset Provision”, which means it will expire on Dec 31, 2009, unless Congress extends the limit.

This means that those who have more expensive Homes will be able to use a greater amount of their value when taking out a Reverse Mortgage. This provision should help those especially in CA, FL, NY, WA, HI, NJ, & NY. This provision allows the FHA Limit to come more “in line” with actual home values. I Live in NC, and we have many homes , especially closer to the water and Mountains, where values are higher as well.

A Federally Insured Reverse Mortgage is when a bank or financial Institution pays the owner for the accumulated equity in a home. Borrowers must be at least 62 years of age, must be their primary residence, and have sufficient equity. There is no Income or Score required

Funds can be taken in a Lump Sum, Credit Line or Line of Credit, Monthly, or some combination. The Borrower retains title and ownership, and makes no payments while living there. Funds can be used for any purpose. When the home is sold, the Reverse Mortgage balance, plus any fees, and accrued interest are paid at that time. Any excess equity belongs to the seller or their estate. The home must be sold when the last borrower has vacated the home for a period of 12 months or passes away. A home can even have a mortgage on it, and the Reverse Mortgage can pay that one off and eliminate payments, provided there is sufficient equity.

This means there is a “Window of Opportunity” for those that have homes valued over the previous limit of 417K, and would qualify for a Reverse Mortgage.

Anyone who is over the age of 62, and has equity in their home, owes it to themselves to look into a Reverse Mortgage. A home is considered “Dormant Equity”, and a Reverse Mortgage can help free up Cash Flow and Retirement Funds for those who qualify. Many who are house rich and cash poor can benefit from this. Even if your Income and Cash Flow are OK now, you should consider getting a free analysis from a trusted Senior Advisor. It has been said that under the age of 65, a home is your greatest financial asset. Every year after 65, it becomes a greater liability. A Reverse Mortgage, if Implemented properly, can turn your home into a liquid asset, while still allowing you the use and enjoy all the benefits and comforts of home ownership, without the stress and worry.

A Federally Insured Reverse Mortgage can provide a Line of Credit for future financial planning, should you need it.

Let’s say a couple in their 70’s, own a home free and clear, that has an appraised value of $600K. Our hypothetical couple would like to sell, but may need to stay in their home a few more years. The Couple is finding it more difficult to pay the Insurance and taxes.

Using the newly Implemented guidelines, they could very easily access the home in the 400K range, either as a lump sum, line of credit, or monthly. That’s a lot of cash. Even if they don’t need all of it, they might consider taking some cash out, and leaving some in a LOC for the future. A strategy might be to allow the credit line to grow, and remove the growth each year to use for expenses, while keeping the LOC intact. The amount removed now becomes part of the Reverse Mortgage.

Our hypothetical couple, should they decide not to take out the Reverse, might miss a “Golden Opportunity”, should the provision expire. They could still take one out, but at the lower loan limit amount, their leverage would be greatly diminished.

If you or someone you know is aged 62 +, make sure they check out a Federally Insured and Government Guaranteed Reverse Mortgage.



Ray

Chris Malcolm asked:


It’s amazing how a simple person can change her life overnight with of the help of a $1-worth of ticket! There is another person whose life changed because of a simple game of luck, official says that this NJ megamillions instant winner will receive $330 million! The Jersey winner will have to split the big jackpot with the other three winners that came from Texas, Maryland, and Virginia. If you total the winning money, it shows that each of them will share $82.5 million just in case the price will be taken in 26 annual installments. Lump-sum payout totals to about $49 million which is about $32 million after all the taxes were deducted.

Guess which numbers gave the NJ megamillions the success that the lady craved for? Well, the numbers are 2, 16, 23, 29 and 32. The mega ball number on the other hand is 46.

Because the law gives honor to the store that sold the winning number, the supermarket where the ticket was brought will obtain $10, 000 worth of money as a bonus says William T. Jourdain who is the current acting as the executive director of NJL Lottery.

NJ megamillions winners are not new. In fact, New Jersey residents were able to won jackpots for about eight times in the last 3 years which include four times in the year 2007. If this is so then people from the NJ are probably one lucky star!

To note history, last December a group of teachers comprising of 12 individual and staff members of the Morris Country high school were able to claim half of the current $163 million jackpot. And in late September, a couple who just celebrated their 30th wedding anniversary won a total of $12 million jackpot! Before that said event, two couples who came from Cape May Country received part of the 390 and $330 million jackpots.

The NJ megamillions winners prove that anyone and everywhere a person may be, luck can get on their way causing their life to change permanently into a better one. What this game needs is not someone who is knowledgeable on how the whole game would function but it takes someone who can believe in themselves just thinking that their megamillions number can actually bring them luck. The game does not promise all of us to win but it gives us equal chances of winning. We just need to be sensitive enough during those times when luck is already knocking on the door. Indeed, there are instances when a winner does not still know that they are carrying a ticket that will allow him to bag millions of dollars hence it is sensible enough to update yourself with news and happenings every now and then.

The NJ megamillion winner is just another proof that there is indeed money in betting. Now, if you wish to be like them then it is probably the right time to follow proven strategies and systems that will give light in the road of winning. Do not worry, sooner or later you’ll get the chance to have your victory.



Jack

Bharat Book Bureau asked:


Legal Issues Relating to Time Charterparties addresses all the major questions and issues that arise in connection with time charterparties, examining them in a logical manner, progressively tracing the subject from the creation to the termination of the contract.

 

All the salient and central legal aspects of time charterparties are examined, with the law analysed in its commercial context, particularly in relation to the various ways in which time charterparties may be used in shipping and international trade.

Table of Contents

 

1. Standard Forms – the BIMCO experience

Grant Hunter

 

2. Construing terms in time charterparties Beginning of a new era or business as usual?

Dr Baris Soyer

 

3. Ascertaining the charter period

Paul Herring

 

4. Safe ports and places

Professor Howard Bennett

 

5. Seaworthiness and the “Hong Kong Fir” decision

Mark Hamsher,

 

6. Indemnities in time charters

David Foxton QC

 

7. Time charterparty hire: Issues relating to contractual remedies of default and off hire clauses

Professor D Rhidian Thomas

 

8. Assignees of hire: how fare can they ignore charters’ claims against owners?

Professor Andrew Tettenborn

 

9. Time charterparties and bills of lading

Emeritus Professor Francis Reynolds QC

 

10. Clauses paramount in time charters

Yvonne Baatz

 

11. War, terror, piracy and frustration in a time charter context

Professor Keith Michel

 

12. Termination rights under time charters

John D. Kimball

 

13. The allocation of cargo claims between owners and charterers in NYPE chaterparties 

Dr Theodora Nikaki

 

14. Containerisation, slot charters and the law

Christopher Hancock QC

 

15. Damages for breach of time charter: some recent developments

Andrew Taylor

 

16. The effectiveness of liens as a self-help remedy?

Professor Richard W. Williams



Brent

Paul Justice asked:


Medical Malpractice can occur at any stage in your treatment plan causing both minimal and maximal side effects. The degree to which a medical professional harmed you by their ill practices differs significantly from one case to the next. In cases where only a small in fracture of medical malpractice occurs usually the medical professional will not report it because the patient rarely noticed anything. When small occurrences of medical malpractice occur they should be treated as if they were life threatening errors because in the future they quite possible evolve into life threatening ones. Severe occurrences of medical malpractice occur when a medical professional fails to provide their patient with the duty of care that is warranted from medical treatment. In these types of cases it is imperative for the medical professional to come clean if they noticed and error so that the patient can seek immediate treatment. However, there are some doctors that commit these acts on purpose to gain lucrative incentives from insurance companies. These instances of medical malpractice are the kind that is tainting the reputation of doctors as well as pharmaceutical companies across the nation.

Medical malpractice can become a lengthy, costly and emotionally draining process that requires the most knowledgeable and experienced lawyers in the area. One of the key factors to becoming successful in you medical malpractice lawsuit is hiring the best lawyer. Some law firms have dedicated teams in dealing with personal injury and product liability cases. Lawyers that have experience in dealing with the medical industry, insurance companies, and pharmaceutical giants are optimal. For they have the experience in dealing with intimidating companies that try to bury law firms with massive amounts of paperwork. This is a tactic that large companies will use so that the lawyer and the victim run out of resources and are forced to settle and a discounted rate. Upon hiring your medical malpractice lawyer there are some key things you can do to help your case gain speed. From the time that you first seek medical treatment to the time you think you have fallen victim to medical malpractice, make sure that you keep all of your medical documents. This is going to be especially important if your lawyer hires an expert witness who needs this documentation to determine what your doctor did or did not do. This is going to provide the court with unbiased proof that your doctor committed medical malpractice.

If you or a loved one has been caused harm by a medical professional, I urge you to seek medical help from a different establishment. Then if your doctor finds that your previous doctor gave you a misdiagnosis, wrong prescription, bad treatment plan, or any other type of failure of their duty contact a medical malpractice immediately. For there are specific time limitations put on these types of cases so it pays to be prompt. In our current economy no one wants the unwanted expenses of medical bills that were caused by negligence, therefore protect yourself and file a medical malpractice suit against those who have wronged you.



Norman

john mills asked:


Tlc Moving Award Winning Service 212 787 9855

www.tlc-moving.com

cs@tlc-moving.com

Unwind and let us treat you with Tender Loving Care every step of the way.

Unlike most moving companies, we don’t “nickel and dime” our philosophy is simple: Relocate our customers quickly, successfully and courteously, with no surprise charges, continuously exceeding our customers’ expectations.

Free box delivery

1 hour free packing with any move over $800.00

1 month free storage with a minimum contract of three month.

Up to $100.00 worth of boxes with any move over $1,000.00

Up to $50.00 worth of boxes with any move over $700.00

One Month Before Moving

Fill out change of address order form for post office.

Fill out an IRS change of address form.

Make arrangements with moving company or reserve a rental truck.

Make travel arrangements, if necessary, with airlines, buses, car rental agencies and hotels.

Transfer memberships in churches, clubs and civic organizations.

Obtain medical and dental records, x-rays and prescription histories. Ask doctor and dentist for referrals and transfer prescriptions.

Set up a checking account in your new city.

Check into the laws and requirements of your new city regarding home-based businesses, professional tests, business licenses and any special laws that might be applicable to you.

Take inventory of your belongings before they’re packed, in the event you need to file an insurance claim later. If possible, take pictures or video tape your belongings. Record serial numbers of electronic equipment.

Make arrangements for transporting pets.

Start using up food items, so that there is less left to pack and possibly spoil.

One To Two Weeks Before Moving

Switch utility services to new address. Inform electric, disposal, water, newspaper, magazine subscription, telephone and cable companies of your move.

Arrange for help on moving day.

Confirm travel reservations.

Reserve elevator if moving from an apartment.

Have appliances serviced for moving.

Clean rugs and clothing and have them wrapped for moving.

Plan ahead for special needs of infants.

Close bank accounts and have your funds wired to your new bank. Before closing, be sure there are no outstanding checks or automatic payments that haven’t been processed.

Collect valuables from safe-deposit box. Make copies of any important documents before mailing or hand carry them to your new address.

Check with your insurance agent to ensure you’ll be covered through your homeowner’s or renter’s policy during the move.

Defrost freezer and refrigerator. Place deodorizer inside to control odors.

Give a close friend or relative your travel route and schedule so you may be reached if needed.

On Moving Day

Double check closets, drawers, shelves, attic and garage to be sure they are empty.

Carry important documents, currency and jewelry yourself, or use registered mail.

Carry travelers checks for quick, available funds.

After Arriving At New Home

Renew your driver’s license, auto registration and tags.

Shop around for new insurance policies, especially auto coverage.

Revise your will and other legal papers to avoid longer probate and higher legal fees.

Locate the hospitals, police stations, veterinarian and fire stations near your home.

www.tlc-moving.com

cs@tlc-moving.com



Jeffrey

Markus Skupeika asked:


Despite the huge safety improvement in the automobile and its accessories, road condition and design, the car accidents are being remained inauspiciously common in US. As this is very common in US a quite large number of people die and get injuries thought out the certain period of time. In the year 2002 along nearly 43000 people have been killed in the car accidents the country.

As the other states of the country has their own rules and regulation to govern the state properly and protecting the rights of citizen, Florida has implemented those for its people. The Florida accident lawyers do take care of the simple and critical accident cases. They uphold their best ability to take care of the prosecution related to the accidents. The rules are there to ensure the justice for the people in Florida. They do take part in the legal affairs and secure the appropriate judgment towards the law.

Then there is the Florida Attorney general. The main duty of this designation is to take part in the legal affairs of the state. If there is any dispute on litigation or any legal amendment is required, this persons bears out the responsibility by digging into this and sets things right. The Attorney may advocate the public in some of the legal issues.

Personal injury law involves civil claims in which an individual is injured through the negligence, recklessness or intentional misconduct of another person, a company, or property owner. A personal injury lawsuit may arise from physical or emotional injuries. Personal injury law compensates individuals injured as a result of another’s negligence or intentional misconduct. Personal Injuries allegation and the litigation vary from on state to another. If an individual has been victimized with the personal injury by the other’s fault or not be at fault there should be the urgency to get in touch with Injury lawyers in Florida to achieve the right amount of compensation from the person who has committed the mistake. Accident that happens due to recklessness of others may be led to Personal Injury cases depending upon the circumstances.

Being victimized by the car accidents there are some certain things that the injured or the affected people should do as per the Florida Car Accident Attorney. First of all policemen are to be informed by making a call. If there is any possibility try to reach for the snapshot and take down the number of the vehicle that has committed the mistake and make sure there people have the eye-witness to squeeze the case and compensation for the accident. Insurance company will be pleased and the legal will be beneficial to file up the prefect legal representation for the maximum level of compensation with medical bill and the lost wages including the idle time sitting back in the home with the injuries.



Sara Levi

Phil Davies asked:


Manhattan, New York – January 29, 2008 – The R.M. Smythe & Company winter auction on February 6-7, 2008 will offer 1310 lots of stock and bond certificates at their Manhattan office. One of the more interesting lots being offered is a truly spectacular example of a certificate for “Buffalo Bill’s Wild West” show. This certificate is beautifully illustrated with a portrait of Buffalo Bill featured at the top center of the certificate flanked by an Indian on horseback and Buffalo Bill on horseback. Other illustrations on the certificate include Indians hunting bison, a log cabin, a woodsman chopping a tree and cattle. In 1883 Buffalo Bill and Nate Sanders teamed up to form Buffalo Bill’s Wild West Show. The show was inaugurated in 1883 in Omaha and entertained audiences across the country and the world until 1913, when Buffalo Bill sold the production. This certificate is signed by Nate Salbury as treasurer.

Other noteworthy scripophily lots being offered at the Smythe’s winter sale include:

Lot # 1099 – Edison Phonograph Works (NJ) 1888 [Estimate $2500 - $3500]. #24. 80 600/1000 shs. Brown. Small eagle, bottom. Issued to and twice signed by Thomas Edison. Signed by him as president, and signed a second time by him on the back. The signature as president is lightly cancelled, the other signature is bold and uncancelled. EF.

While Thomas Edison was not considered a profound scientific genius, he had a tremendous talent for applying scientific principles to practical applications. In 1876, while experimenting with a needle attached to a telephone receiver, Edison discovered a method that reproduced sounds on a wax cylinder, and the recording industry was born. Edison’s invention relied on mechanical amplification, but by the 1920s his competitors were manufacturing electrically amplified, higher fidelity phonographs. Edison was hard of hearing and could not appreciate the difference in sound quality. He refused to allow his sons to waste time and money to develop an improved electrically amplified phonograph, a decision that would have dire consequences for the Edison Phonograph Works.

Lot # 1198 – Boston, Massachusetts Feb. 22, 1787 [Estimate $2000 - $4000]. One Hundred Pounds. Mostly typeset receipt on laid paper. Issued to Elias Hasket Derby, Esquire. Signed “Edwin Payne & Son “. One -inch round glue mounting remnant on back only, else VF+.

After the Revolution, there was an economic depression throughout New England. Small property holders who could not pay their taxes faced imprisonment. Town meetings talked of tax relief, and the issuance of paper money, but these issues were opposed by the legislators. Daniel Shay emerged as the leader of a localized rebellion which tried to close the courts in order to prevent action against debtors. Neither the Federal government, nor the state, would supply money for the militia to put the rebellion down, but some $20,000 was borrowed from “private sources”, probably through a subscription campaign. On January 25, 1787, Shay and his supporters attacked a Confederation arsenal in Springfield, but they were repulsed by General Lincoln. Shay escaped to Vermont, and was eventually pardoned. This note is a receipt given to Elias Hasket Derby for paying in the one hundred pounds subscribed by him to the “…Loan for procuring Provisions and Necessaries for the Militia ordered to Worcester…” A similar item, dated three months later than this one, brought over $4,000 in our September 2003 auction.

Lot # 1220 – Potomac Company 1786 [Estimate $7500 - $12500] . #43. 25.3.3 Pounds. Receipt. Handwritten document. Receipt signed 11/17/1786 by Richardson Stuart for payment of 25.3.3 Pounds by Potomack Navigation. Three of the directors have signed on the reverse: George Washington, John Fitzgerald and George Gilpin. EF.*

Stuart was the manager of the construction operations of the firm. In September 1784, Washington joined with others, then chiefly Virginians, to form the Potomac Company, whose purpose was to remove the impediments of the navigation of the river past the falls and so clear the way to the development of the lands beyond, all the way to the Ohio. Washington, in common with others, held substantial lands in the Trans-Alleghany region, and these men combined to induce the legislatures of Maryland and Virginia to charter a canal company for that purpose. The Potomac Company was only the second such corporation in America, the Susquehanna Canal Company having been founded in the preceding year. The Potomac Company started with a capital of 250 shares with a par value of only $100. The shares were to be evenly divided between the citizens of Maryland and Virginia, with Washington getting fifty shares that were given to him gratis by the Commonwealth of Virginia. By May 1784, 403 shares had been sold and Washington was elected President with John Fitzgerald and George Gilpin among the four other directors. Initially, the directors wanted to build the canal and clear the river of obstructions only with free white labor. But despite liberal cash salaries and distributions of liquor, the work went slowly. As a result, Washington arranged for the purchase of 60 slaves and the hiring of 100 freedmen, who could be better controlled. By 1786, a number of snags and other obstacles had been removed, and work was in progress at Shenandoah Falls, Harpers Ferry, Seneca Falls and Great Falls. In each of these places actual canals were being built, but the wooden locks rotted and had to be replaced with stone. From 1785 to 1789 and again from 1797 to 1799, before and after his presidency, Washington was active in the management of this firm. Progress was slow, the amount of capital needed proving to be much larger than expected, reaching $500,000 in 1815. Robert Morris and John Nicholson bought large numbers of shares as part of their plans to develop their properties in the District of Columbia. Since the canal paid only one dividend for $5.50 in 1802, despite having opened 338 miles to navigation, ownership of the canal was not profitable. The company languished until the chartering of the Chesapeake and Ohio Canal Company, which took over the Potomac Company’s works.

Lot # 1302 – Standard Oil [Estimate $7500 - $12500] (OH) 1877. #122. 25 shs. Black. Capitol Building. Liberty with flag and sword (”The Standard Bearer”). The original Standard Oil founded by John D. Rockefeller and signed by him three times, once as president, again on the transfer stub, and again on the reverse. Also signed by Henry Morrison Flagler as secretary. Lightly cancelled in red pen through the vignette and the officers’ signatures, hardly distracting. An extremely important piece of American financial history representing the early days of one of America’s most significant industries.

When it was first incorporated in 1870, shares in the original Standard Oil were very tightly held. There were only five shareholders at its inception, and ten years later there were only forty-one. Standard Oil was the world’s largest oil refiner, controlling 90% of the U.S. Oil business at that time.

John D. Rockefeller (1839-1937) was the dominant figure in the oil industry until his retirement in 1911. He started his business career as a bookkeeper, and by age 19 was a partner in a produce business. He began operating a small refinery with his partners, and quickly became alerted to the growing investment possibilities in what was then a fairly new industry. In 1870, he organized the Standard Oil Company of Ohio and proceeded to achieve control over 90% of the oil refineries in the country. Rockefeller had little interest in discovering oil; he left that to wildcatters and other speculators. He concentrated on the transportation, distribution and sale of petroleum products, building a fortune estimated at over a billion dollars.

Henry Morrison Flagler (1830-1913) with J.D. Rockefeller organized the Florida East Coast Railway (1886) and built great hotel resorts in St. Augustine and Miami (1892-1896).

Lot # 1396 – Accessory Transit (of Nicaragua) (NY) 1856 [Estimate $15000 - $25000]. #12. $5000. Bearer Bond. Auxilliary ocean going steamship. Signed twice by Cornelius Vanderbilt as president, and on the reverse. Not cancelled. John W. Amerman. NY. VF.*

Cornelius “The Commodore” Vanderbilt (1794-1877) was an American financier and founder of his family’s fortune. At the age of 16 he bought a boat and ferried passangers and goods between Staten Island and Manhatten. He later made a fortune in the steamship business, earning himself the nickname “Commodore.” In 1862 he sold his ships and turned to financing railroads, where he amassed a greater fortune estimated at $100,000,000 making him one of the richest men of his time. Accessory Transit was organized by Vanderbilt to move passangers and freight to the West Coast through Nicaragua. Vanderbilt hired C.K. Garrison as his agent through San Fransisco, and Charles Morgan as his agent in New York.

Shortly after this bond was issued came the “war of the three commodores,” between Charles Morgan, Cornelius Vanderbilt and George Law. Accessory Transit competed openly with the Law-Aspinwall mail subsidy line. Morgan and Garrison, on the other hand, manipulated the Transit’s stock in such a way that they profited while Vanderbilt lost heavily. Vanderbilt is said to have stormed at them, “I will not sue you because the law takes too long. I will ruin you.”

Vanderbilt did manage to unseat Morgan and Hoyt from the board of directors, but another headache immediately developed in the form of William Walker, who invaded Nicaragua with the support of Morgan and his Associate! William Walker made himself President of Nicaragua. In order to get the money needed to keep a 1200 man army together, he took sides in the in-fighting within Accessory Transit Company. Foolishly backing those who had double crossed Commodore Vanderbilt, Walker confiscated the company assets and handed them over to the insurgent faction. Vanderbilt retaliated with a blockade, cutting Walker off from reinforcements while inciting the neighboring states. Vanderbilt sent mercenaries to Costa Rica, where they obtained a small force of native troops to attack Walker. As a result Walker suffered defeat and had to flee in May 1857. Vanderbilt was then back in business with Nicaragua.

The first Accessory Transit Certificate signed by Cornelius Vanderbilt that we have sold in over a decade. A museum quality certificate that may not be obtainable again in a lifetime of collecting.

“We are seeing some very strong pre-sale interest in many of the featured lots being offered in our winter sale.” said Mary Herzog, Vice President of R. M. Smythe & Co.”If a collector is interested in a particular lot, I would encourage them to use our Web site to place a bid now, because we are expecting heavy bidding activity during the sale.”

Lots will be available for viewing at Smythe’s offices at 2 Rector Street, in New York City, by appointment only. To arrange for an appointment call R. M.Smythe & Co. at 800-622-1880. For updates on this auction check Smythe’s website at smytheonline.com. This auction will be conducted with eBay Live/LiveAuctioneers. A complete catalog of all 1310 lots including photos and estimates can be viewed online at: http://static.smytheonline.com/ . Select “Current Auctions” in the left column.

Accredited media interested in scheduling an interview to discuss this release or past & upcoming auctions are encouraged to contact Mary Herzog at 212-943-1880. High resolution photos are also available upon request.

About R. M. Smythe & Co.

R. M. Smythe and Co., established in 1880, buys, sells, and auctions coins, paper money, stocks and bonds and autographs at their corporate headquarters at 2 Rector Street in the heart of the Financial District in New York City. To order a catalog, to contact any of the firm’s specialists, or to make general inquiries, call 212-943-1880 or 800-622-1880, or visit the firm’s website at: http://www.smytheonline.com.



Albert