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Category Archives for Business

A Guide to Quasi Contract in Minnesota

What is a Quasi Contract? Quasi contract is another term for a contract implied in law. A contract implied in law is where “a promise is imputed to perform a legal duty, as to repay money obtained by fraud or duress.” Hercules Inc. v. United States, 516 U.S. 417, 424 (1996). What is a Quasi Contract Actually a Contract? A […]

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A Guide to Quantum Meruit in Minnesota

What is Quantum Meruit? Translated, quantum meruit means “as much as he merited” or “as much as he/she deserved.” In law, quantum meruit is a doctrine that allows someone to recover the value of services provided to another when there was no actual contract but the one receiving services understood payment would be required. How is […]

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A Guide to Quantum Valebant in Minnesota

What is Quantum Valebant? Quantum valebant is exactly like quantum meruit, but with one important distinction: quantum meruit applies to the value services, while quantum valebant applies to the value of goods. Translated, quantum valebant means “as much as they were worth.” What is Quantum Valebant in Minnesota? Minnesota courts have recognized quantum valebant as a remedy allowing the provider of […]

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Agreement Implied in Fact vs. Implied in Law – What is the Difference?

What is the difference between an agreement implied in fact and an agreement implied in law? A contract implied in fact is where there is no express contract, but the conduct of the parties makes it clear they both understood they had a deal. A contract implied in law is where there is no contract per se, but at least one party […]

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What Are Uncovered Assets?

An uncovered asset is simply property or something else of value that has been revealed to exist. Uncovered means found or discovered. Assets are generally anything of value including money personal property real property (real estate) intellectual property For example, John may hide from his relatives the fact that he owns a boat. Sarah may […]

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2018 Tax Changes for Business Owners

Congress approved the Tax Cuts and Jobs Act on December 22, 2017, which provided for some of the most significant tax reform in recent memory. It affects nearly all taxpayers in every circumstance and could affect how you plan for your future as well. Over the next few posts, we will analyze a few of […]

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Medicaid Compliant Annuity

A Medicaid Compliant Annuity is a financial product that helps elder law attorneys protect their clients’ assets from being lost to nursing home costs. Essentially, the Medicaid Compliant Annuity converts funds that are not exempt from Medicaid into a stream of income that is exempt from Medicaid. When done properly, this expedites eligibility for Medicaid […]

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