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Business in Law Firms

Need help in preparing a 400 word discussion with the following scenario.
The law firm is in the process of purchasing a number of new company desktop computers, printers, notebook computers and servers. The firm is planning to borrow money from a bank to complete the transaction. The IT manager who is in charge of the transaction does not understand what type of contract the company is entering into with the bank, or what most of the legal terminology means. The supervising partner needs to prepare an outline to assist the IT Manager. Specifically, the supervising partner needs to explain secured and unsecured debt and what occurs if the firm defaults on the agreements to purchase the technology equipment.

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Business law

Need help in preparing a 400 word discussion with the following scenario.
The law firm is in the process of purchasing a number of new company desktop computers, printers, notebook computers and servers. The firm is planning to borrow money from a bank to complete the transaction. The IT manager who is in charge of the transaction does not understand what type of contract the company is entering into with the bank, or what most of the legal terminology means. The supervising partner needs to prepare an outline to assist the IT Manager. Specifically, the supervising partner needs to explain secured and unsecured debt and what occurs if the firm defaults on the agreements to purchase the technology equipment.

The contract is an agreement between the law firm and bank that is giving the loan. The secured debt is a debt in which the law firm pledges some asset. Usually, the desktop computers, servers, printers and notebook computers that the law firm is ...

Solution Summary

Business law is discussed in great detail in this solution.

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