BUSINESS LAW

A comprehensive planning document which clearly describes the business developmental objective of an existing or proposed business applying for assistance in SBA’s 8(a) or lending Programs. The plan outlines what and how and from where the resources needed to accomplish the objective will be obtained and utilized. The U.S. Small Business Administration (SBA): Small Business […]

BAD DEBTS Funds owing to a business which are determined to be uncollectible. BALANCE SHEET Financial statement listing a company’s assets, liabilities, and equity on a specific date. BANKRUPTCY A condition in which a business cannot meet its debt obligations and petitions a federal district court for either reorganization of its debts or liquidation of […]

Bankruptcy A condition in which a business cannot meet its debt obligations and petitions a federal district court for either reorganization of its debts or liquidation of its assets. In the action the property of a debtor is taken over by a receiver or trustee in bankruptcy for the benefit of the creditors. This action […]

Mission Maintain and strengthen the nation’s economy by aiding, counseling, assisting and protecting the interests of small businesses and by helping families and businesses recover from national disasters. Services of the SBA (U.S. Small Business Administration) are comprehensive and local offices of the agency are always a good place to consider seeking information and/or assistance. […]

ACCOUNTING The recording, classifying, summarizing and interpreting in a significant manner and in terms of money, transactions and events of a financial character. ACCOUNTS PAYABLE Trade accounts of businesses representing obligations to pay for goods and services received. ACCOUNTS RECEIVABLE Trade accounts of businesses representing moneys due for goods sold or services rendered evidenced by […]

Delaware Case Law PISANO v. DELAWARE, 05C-03-132-FSS (Del.Super. 2006) JERRY PISANO, Plaintiff, v. DELAWARE SOLID WASTE AUTHORITY, Defendant. C.A. No. 05C-03-132-FSS. Superior Court of Delaware, New Castle County. Submitted: July 6, 2006. Decided: November 30, 2006. Upon Defendant’s Motion for Summary Judgment — GRANTED. R. Stokes Nolte, Esquire, Nolte & Associates, 1010 N. Bancroft Parkway, […]