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In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. [1] Rescission is the unwinding of a transaction.
Closure may be the result of a bankruptcy, where the organization lacks sufficient funds to continue operations, as a result of the proprietor of the business dying, as a result of a business being purchased by another organization (or a competitor) and shut down as superfluous, or because it is the non-surviving entity in a corporate merger.
Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. A first refusal right must have at least three parties: the owner, the third party ...
The areas that saw the biggest number of small business closings in the Bay State are also where a lot of seasonal tourism takes place. Counties most affected include: Nantucket: -60.5%.
Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations as part of its efforts to revive its struggling business. The company said it is shuttering a ...
Last week, 7-Eleven's parent company announced that it would be closing over 400 stores in North America. Is 7-Eleven Going Out Of Business? Why Hundreds Of Stores Are Closing
The Worker Adjustment and Retraining Notification Act of 1988 (the "WARN Act") is a U.S. labor law that protects employees, their families, and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of planned closings and mass layoffs of employees. [1]
In 2020, the business received a $24,000 Paycheck Protection Program loan from the U.S. Small Business Administration and a $3,000 forgivable loan, according to a 2020 Journal Star story. Reynolds ...