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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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Is it still insider trading if no benefit was exchanged or received from the information?

Note - I have seen the other questions but they are still vague and explanations parsimonious. Is it still considered insider trading if no benefit was exchanged or received from the information? ...
Icer Box's user avatar
2 votes
1 answer
109 views

Tax rules for United States citizens living in the US but being paid from outside the US

Background For reference I am asking this question from the point of a self-employed (freelance programmer) who lives in the United States but has been contacted by and asked to complete a small ...
Blizzardengle's user avatar
4 votes
1 answer
812 views

Are consumers liable for fraud related to bank account and routing numbers?

There's a ton of information about liability related to fraudulent debit and credit card charges, and even a little about fraudulent checks, but I'm having trouble finding similar information about ...
jvriesem's user avatar
  • 374
2 votes
2 answers
278 views

Can I reject a compensation voucher for a cash refund (partial or full)? [closed]

I went on a day-trip to the U.K today, and went to a cinema. I paid for 3D but unfortunately the 3D projector wasn't working so it was shown in 2D instead; when I exited, I was given a voucher that ...
AStopher's user avatar
  • 1,224
1 vote
1 answer
687 views

F-1 student investing in foreign markets

I am currently an F-1 student studying in the US. Before I came to the US, I was day trading stocks back home ('a foreign market') - where I am from. Can I still day trade from the US in my home ...
curiouser's user avatar
46 votes
12 answers
37k views

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 ...
Anoneemus's user avatar
  • 663
-3 votes
4 answers
933 views

What is the purpose of the wash sale rule?

I understand the basics of what a wash sale is, and in particular that it prevents an investor from realizing a capital loss through a temporary sale of a security in order to offset a capital gain. ...
Jess Riedel's user avatar
2 votes
1 answer
239 views

Is lemonade insurance a de-facto mutual insurance company? [closed]

Lemonade insurance is a startup that markets itself as the first P2P insurance company, which totally eliminates the need of brokerage service. Are they (and a general P2P insurance organization) a de-...
Ryan's user avatar
  • 143
1 vote
1 answer
571 views

Taxes on freelancing in USA by an Indian

I'll be soon moving to Harvard and so far, I've been freelancing (web-development) with clients globally. Before we go any further, I must specify that I'm from India and have paid taxes to Indian ...
Anoneemus's user avatar
  • 663
0 votes
2 answers
191 views

Can I force non-payment on a pre-authorization hold by closing account?

I was just thinking back to an episode of Silicon Valley, just hear me out, where Gilfoyle tells Dinesh he can close his bank account to avoid having the donation platform collect the $5,000 he doesn'...
Domemy's user avatar
  • 35
14 votes
3 answers
7k views

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 ...
TTT's user avatar
  • 47.2k
1 vote
1 answer
350 views

Can you gift assets to your parents well in advance of their deaths to get a cost-basis step-up?

I know that gifts given to parents by their children within one year of their death are not eligible for cost-basis step up upon inheritance by those same children. I understand that this is to close ...
Daniel's user avatar
  • 5,330
2 votes
3 answers
347 views

Computer vendor not honoring warranty. What's the next step?

About 9 months ago my computer was not working so I took it to the closest technician I found on my Google Maps. Turned out there was a problem with the motherboard and that the repair would cost ...
mathemagician's user avatar
1 vote
1 answer
439 views

U.S. law requires the credit card due date to be on the same day every month. If it's the 30th, what about February?

Out of sheer curiosity, what would the due date be in February if it's normally on the 30th on every other day of the month, considering that the Credit CARD Act of 2009 requires it to be the same day ...
nCardot's user avatar
  • 663
2 votes
3 answers
207 views

Are there any rules against penalizing consumers for requesting accurate credit reporting?

Most credit reports list a consumer's credit accounts and for each month of history on that account, an indication of account status (e.g. 0/30/60/90 days past due). Some credit reports also list the ...
WBT's user avatar
  • 2,905
0 votes
2 answers
83 views

Executor of will [closed]

My husband is in the middle of a lawsuit through his business. They are claiming they will take his personal assets. He does have a lawyer and they are working on getting it resolved. My question ...
Susan's user avatar
  • 11
4 votes
1 answer
201 views

Are American Eagle $20 gold coins considered "securities", requiring dealers to be licensed to sell them as such?

I wonder if anyone can tell me whether U.S. $20 American Eagle gold coins are considered to be "securities" for purposes of sale? In other words, if I want to start a business that buys/sells them to ...
Daniel Anderson's user avatar
-1 votes
1 answer
66 views

Can a stable value fund contain equities?

Can a stable value fund legally contain equities? I understand that the insurance premiums would be very high, and because most stable value funds are provided by insurance companies it would be ...
Mike's user avatar
  • 103
21 votes
9 answers
5k views

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 ...
Mason Wheeler's user avatar
0 votes
2 answers
93 views

US mortgage without waiving or assigning rights?

At a bank in Pennsylvania (USA) to get loan with house as collateral. This is for a small rental LLC with a couple of houses. While reading the agreement, much of it was commonsense, but a few things ...
James Jenkins's user avatar
2 votes
5 answers
10k views

Scammer wants details and credentials for my empty & unused bank account. What could go wrong?

Some guy wants to use my bank account info (user and password) and he also wants me to ship my card he said with 0 dollars on it. It's a debit card and I don't really use the account anymore it has ...
Jonathan Farland's user avatar
1 vote
2 answers
50 views

Continue with old Health policy with current employer

I am from Indiana. I want to change my current Employer. I have a Group Policy from my current Employer. So I want to ask that Can I continue with my Old Group Policy with new Employer..?? or have to ...
Vincent Parker's user avatar
44 votes
6 answers
21k views

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 ...
Albert Renshaw's user avatar
-1 votes
1 answer
170 views

Extra amount credited to my foreign currency account and mistakenly I spend it. What should I do? [closed]

I deposited some thai baht into my foreign currency account in india which amounts to Rs.250000 but in my account the same amount was credited three times and from different person. My initial deposit ...
trojans's user avatar
0 votes
1 answer
68 views

Debt management lawyer?

Is there such a thing as a debt management lawyer? I've got delinquent debts. I've got more than enough money to pay off all debts. I want to systematically look over each debt statement (fees, etc) ...
Yarlo's user avatar
  • 19
0 votes
1 answer
124 views

Can an immigrant get a mortgage in the us?

My dad has been in them U.S for 9 years now and he has been working in the same location. He has been in the U.S before that but he went back to San Salvador the country he has born in. When he came ...
Johanna's user avatar
7 votes
1 answer
2k views

Is a public company allowed to issue new shares below market price without consulting shareholders?

A small public company I own shares in recently advised the market it has completed a share issue to raise money. The new shares were priced significantly below the current market price and there was ...
Flash's user avatar
  • 173
0 votes
1 answer
184 views

Shouldn't nominal interest rates be illegal? [closed]

First of all, I'm really new to anything related to financial math and the like, but I just can't get my head around these nominal interest rates. The way I'm getting it is that it's just a euphemism ...
Alan Broderick's user avatar
0 votes
2 answers
4k views

Do I need to do a title search on land? how about title insurance? lawyers?

I am looking at a piece of land that is being sold for 25k. As I understand it, I need to do a title search before any transaction is done. I've already looked at the tax assessors website and seen ...
user379468's user avatar
1 vote
1 answer
1k views

Inspection Contigency - Form 35 (NWMLS)

After a residential home inspection has occurred, and both parties have signed/initialed an inspection response (NWMLS Form 35R); What are the buyers options for recourse when the seller does not ...
royalt's user avatar
  • 13
3 votes
2 answers
796 views

Why can't 401(k) statements be delivered electronically?

I called Schwab and they just said, "401(k) accounts are not eligible for paperless confirmations and statements. It's the law. Sorry." I can't find any reference to this law in the Google. The ...
Rocky's user avatar
  • 24.1k
0 votes
1 answer
81 views

Using a brand name in a product which I will sell [closed]

I own a company where we manufacture vinyl stickers which wrap up devices, varying from phones to game consoles. We had plans to create a design for Game of Thrones, but we are unsure how this bit of ...
Bart Pelle's user avatar
0 votes
0 answers
150 views

401k plan employee rights?

Is it legal for my employer to know what I'm doing with my money that is in the 401k, that comes from my employer, without my consent? Is the financial services company that manages my 401k permitted ...
webb's user avatar
  • 1
2 votes
1 answer
250 views

Do tax preparers have to report findings of illegal activities to any IRS?

Do tax preparers have to report findings/suspicions of illegal activities —e.g. failure to file for multiple years— of clients or even potential clients (seeking advice) to either Federal and/or any ...
user43431's user avatar
9 votes
3 answers
13k views

Is there a rule that a merchant must identify themself when making a charge

Recently I sent several credit card payments online. The company that charged my card is a multi-billion dollar company, so not just a small start-up. However on the statements the charges appeared as ...
Mike's user avatar
  • 369
-1 votes
1 answer
95 views

Am I a tenant in common by mortgaging my share?

If I mortgage my share of the property and later pay off the mortgage, am I a joint tenant now or tenant in common?
picky's user avatar
  • 3
3 votes
2 answers
1k views

Magazine subscription leads to unauthorized recurring payment

I've heard various stories about unscrupulous business practices relating to recurring credit card payments, but this is a new one on me. I've been subscribing to Scientific American for a long time, ...
user avatar
38 votes
5 answers
32k views

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 ...
Paul's user avatar
  • 1,296
1 vote
1 answer
184 views

Is it mandatory for tax preparation companies to offer free basic service?

I have seen that almost all of the tax preparation companies/softwares like H&R Block, Jackson Hewitt, Liberty Tax Service, TurboTax etc offer free basic federal tax filing. Is there any law ...
Ram's user avatar
  • 195
-1 votes
2 answers
71 views

viewing stock market transactions

What I would like to know how to keep on eye on things like sale of a certain stock?, who is buying what stock?, what stocks are certain people buying? Is it legal to have access to these sorts of ...
David Carpenter's user avatar
1 vote
3 answers
304 views

Should I proactively declare chapter 7 bankruptcy to end a pending $200,000 personal liability lawsuit before it gets started?

I am being sued for simply being associated with a company that cost customers money. I didn't know that company was being irresponsible, but the customers are saying I am liable for recommending ...
user25242's user avatar
7 votes
2 answers
2k views

Arguments on the "unconstitutionality" of income tax: What acts, etc. of Congress require payment of income tax?

I've heard that while the 16th Amendment gave the U.S. Congress the authority to enact laws for the application of an income tax on US citizens, but I've also heard that there is currently no law on ...
Ben L's user avatar
  • 105
6 votes
1 answer
2k views

How can Ponzi schemes be detected and legally prosecuted?

Out of curiosity: How can Ponzi schemes be detected? What are the conditions to be classified as a Ponzi scheme? What are the legal means to prosecute such schemes? A Ponzi scheme "operator" can ...
willeM_ Van Onsem's user avatar
8 votes
4 answers
1k views

Is it illegal to refrain from selling stock based on insider information?

If I were planning to sell my stock of the company I work for, then see a non-public draft of the next quarterly report that will make the stock go way up, and cancel my plan to sell based on that ...
hamboy's user avatar
  • 149
2 votes
1 answer
169 views

Legal requirements to sell design content, artwork and also freelance in India?

I want to start a website where I can sell my digital artwork, 3D models etc at the same time use the site to get freelance graphic design work.I know how to go about it technically but what are the ...
user22845's user avatar
-2 votes
1 answer
131 views

Any Loop Holes for Owner Occupancy?

My Client wants to buy a Fannie Mae property in WA as an owner occupant. He owns another home out of state (in california). He has family that lives here in WA. This particular Fannie house in WA ...
Stomb971's user avatar
9 votes
2 answers
2k views

How secure is my 403(b)? Can its assets be "raided"?

I work at a state university and contribute to my 403(b) retirement account on a twice-monthly basis, maxing out the matching funds. I also contribute a smaller amount to another account, after ...
Alex Reynolds's user avatar
1 vote
1 answer
822 views

My sister borrowed money on a home thats not hers, how can I protect the home?

After the death of my sister, my mother finds out she had taken a mortgage out on mom's home. The deed and taxes are only in mom's name. The bank came out taking pictures yesterday. Mom is 72 ...
user22045's user avatar
4 votes
4 answers
2k views

Can you live through a corporation, i.e. conduct personal affairs through a business?

I was curious if it were legal (USA) and possible to live "inside" of a corporation. As in I would purchase a house/car/etc through a corporate entity (I realize I'd likely pay more, but bear with me) ...
mlw4428's user avatar
  • 149
19 votes
1 answer
27k views

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 ...
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