Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [law]

For legal questions relating to personal finance. Note that Stack Exchange does not provide legal advice; for questions with potentially serious legal ramifications, consult a lawyer specializing in the law in question.

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I am an EU resident being contacted about stock I own in a defunct company by a supposedly US based lawyer, is this a scam?

I am based in the EU, so I have very little knowledge of how the US legal system works. I have been contacted by a "law firm" in the US about a financial issue: a company in which I own a small amount of shares went bankrupt several years ago, and…
blueFast
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12 answers

Is it legal if I'm managing my family's entire wealth?

My family (father, mother, and brother) have allowed me to invest their money in the stock market and other types of investments (real estate, bonds and mutual funds). Is it legally okay to do all the investments under my name? Which means that I…
Anoneemus
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44
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6 answers

Can a CEO short his own company?

I'm just curious, it seems a CEO could make a lot of money by shorting a huge amount of shares on his company through a third party and then purposefully tanking the company before being fired. Surely this is illegal right?
Albert Renshaw
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43
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4 answers

It is legal for a retailer/store or other business to refuse $50 & $100 bills or other legal tender, e.g. pennies?

I'm trying to find out about businesses refusing $50 & $100 bills. Aren't they required by law to accept all legal tender? I had one person say it could be that it's not all legal (i.e. a concern for counterfeit currency) – in that case shouldn't…
Cherie-Lynn
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38
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5 answers

After hitting 80% LTV, my mortgage lender refuses to remove PMI. Any recourse?

I recently refinanced my home. At the time based on the appraisal vs. amortization I found I would be stuck with PMI (private mortgage insurance) for about 9 months. I've paid extra on the mortgage each month and after 7 months I got my LTV…
Paul
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38
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3 answers

How to prove that invoices are really unpaid?

When it comes to official business documentation (USA) between a company and a client who is either another company (B2B) or individual person (B2C), how can the company providing the invoices, prove that those invoices are really not yet…
Liam
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34
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7 answers

Selling a property - multiple offers of same value?

In the U.S., when selling a residential property, is there a rule or law regarding how to handle multiple offers of the exact same monetary amount? Is this the kind of thing that would vary state-by-state? My family and I made an offer on a…
krb686
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5 answers

Why is there a limit of 6 ACH transfers out of savings accounts (per month)?

I recently discovered this limit the hard way, after being charged a fee for each transfer over the limit. With online banking becoming so prevalent, this is a huge inconvenience as it prevents people from structuring their savings for the best…
The Matt
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30
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7 answers

Someone stated that my uncle died in Canada and there is money for me

Someone contacted me and said that someone with a similar last name died and left me a large amount of money. He gave me information and forms from a bank, and other pertinent information. I then got a message that there is fee and that I need to…
Armen
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5 answers

Can I create an LLC to put my assets into it in case I am personally sued

This is kind of the reverse of what typically people do. Typically an LLC is created to protect the owner's assets if the LLC is sued. I'm looking at it in the reverse order. If I put my money into an LLC and I am personally sued, is that LLC…
Dale
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24
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7 answers

What are the advantages to banks being located in the City of London (the Square Mile)?

This question is about the City of London, i.e., the Square Mile, not greater London. There are an awful lot of international banks located in the City of London. What advantages are there to having a bank located here?
not_Rich
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22
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6 answers

Does a direct deposit arrangement also enable direct withdrawals?

Suppose, for example, an employer in the United States deposits employees' paychecks directly into their bank accounts. If they determine (whether correctly or incorrectly) that a former employee was paid more than they should have been due to a…
Unknown Shoulder
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9 answers

Is this investment opportunity problematic?

I recently got an email from a close friend of mine, that goes something like this: We're looking to sell our rental house and buy a new one. We found one we like, but the housing market is very hot right now and it's not likely to be on the…
Mason Wheeler
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What US law requires a bank to reopen a closed account if a third party sends money to it?

I used to have an account with a local credit union. I moved, then closed the account. The credit union mailed me a check for my remaining balance and confirmed the account was closed. This was 14 months ago. Last week, someone tried to send me…
user9760
15
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3 answers

What is the rationale behind an FSA being "Use it or Lose it"?

One of the biggest gripes most people have with the Flexible Spending Account is the rule that you must "Use it or Lose it". This can lead to people frantically running around just before their money expires trying to rack up eligible expenses they…
TTT
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