/biz/ - Business & Finance

Bait or not, I'm going to treat this like a law school exam question.

1. You can't "accidentally" sell something, at least not under U.S. and similar law. A binding contract requires mutuality, meaning the parties must have intended to enter into the agreement. No judge would believe that you had the intent to convey title to the bike for zero consideration.

2. The absence of consideration is another fatal defect of the contract. A binding bilateral contract requires a mutual exchange of value, which did not happen here.

3. Mistake is a valid ground to void an otherwise valid contract. Even if the contract was binding, OP's mistake as the the nature of the form would give his legal ground to attack the agreement.

4. Although the bike shop could try to claim that the bike was a gift, or was conveyed under a unilateral contract, they would have to show detrimental reliance and that the reliance was reasonable under the circumstances. Re-selling the bike may show reliance, but it is unlikely that any judge would find the reliance reasonable. At best, the bike shop might be able to retain any actual damages (e.g., anything spent to recondition the bike for resale) but not the bike or the proceeds of the bike.

>Nailed it. A+.

>>792091
I'm happy to reply to any reasonable question and I read most of the non-troll threads. But one-on-one advice would be a little too close to the ethical line for an attorney. Sorry.

>>791437
>Ihaz is a corporate lawyer who makes big bux
Yup.
>he is a loud proponent of "MUH VANGUARD FUNDS" and also
Yup.
>"MUH CANT BEAT THE MARKET"
I prefer the term "efficient market" but you're on a roll so I won't quibble.
>He fails to see how people are better than him at something because he's a narcissist
Aww, boo. Its not my fault that so many people on the board are young, inexperienced, and foolish. Sure, I guide with a stern and unforgiving hand, but I do so because I've been through the trenches and I know better. If anything, I'm paternalistic and condescending. At least get my faults correct.

>>790999
Not 50. Another mistake you've made. One in a long string, I'm sure.

But thanks for reading my thread, newfag. Next time you'll know to respect your betters and not say stupid stuff like >>790952.

>>790990
Just the one so far. I've waiting a year for company to arrive.

>It's like hitting the level cap in a MMO while everyone else in the game is stuck in the noobie zone.

>>790969
Sorry to bust your bubble kid. Its ok, your reaction is pretty common among the plebs. Welcome to /biz/ newfag.

https://archive.moe/biz/thread/301031

>>719835
And yet, here you are....

>>719817
Huh? Who's arguing with me? Not a single person has expressed an opinion in this thread contrary to anything I've said. There isn't a single argument being discussed.

You really are pathetic. No one should be this obsessed with an anonymous internet poster.

>>719753
Me
>gives thoughtful advice to questions
>complete answers with reasons

You
>post angry jealous offtopic butthurt ranting

Remind me ... which one of us is shitposting again?

>>719384
So you posted in a 4chan thread to complain about someone posting in a 4chan thread. Yeah, I know what you mean, anon.

You're a real hero for standing up to me and setting me straight. Shame you don't trip; you might win the 4chan medal of honor.

>>719350
Why would my advice change over a period of months? That's a pretty stupid observation to make.

>>719338
You're welcome. Good luck with your plan.

>>719325
I'm afraid I don't have anything to add to that thread that hasn't already been said by others.

>>719300
Well, if you have no better options, and a long-term perspective, I suggest:

40% VINIX
5% VMCIX
20% VSCIX
25% VTIAX
10% VBTIX

VINIX includes some mid-cap exposure already, so VMCIX is optional. Also, this is overweighted in small cap exposure, which is a proven long-term strategy and recommended by some. A more conventional allocation would shift more into the S&P 500. 10% bond allocation is the smallest I can recommend in good conscious, but many go without any exposure. There's no right or wrong as long as you don't go crazy with the tweaking.

>>719293
I'm an attorney. However, I don't know enough about you or your circumstances to give you career advice. Its not really my wheelhouse anyway.

>>719311
You could replace VINIX, VMCIX, and VSCIX with the Total Market fund if you prefer. They serve the same purpose, although you'll be getting a more conventional small and mid-cap weighting I suspect.

>>719257
You could construct a well-rounded portfolio using those Vanguard funds, though you'd need to buy all of them in appropriate percentages depending on your goals and risk tolerance.

It would be easier for you if there was a total market fund, or perhaps even better, a target date retirement fund. It doesn't matter if they're not Vanguard as long as the fees are low. Do you have any of these options, and if so, what are the fees for them?

>>719155
>Why all the haters?
1 hater + a VPN. I have my fans.

>>719009
>I am guessing most go into journalism, human resources or further study in something related but more practical.
This is true for those with a plan to earn high incomes. In my case, and English degree was an smart choice because I always planned on law school.

However, I would estimate that at least 50% of my fellow English majors did not have more definite plans for something useful or practical later. Many of the girls were on the MRS track, and there were plenty of aimless academics too. Don't underestimate the number of 18-22 year olds who have no clue about what it takes to be successful.

>>719129
>For real, a man with millions doesn't pay $30/month for this?
Naw, its pretty much a scam. Anything that Lifelock does you can do yourself with the credit agencies and a little diligence.

I suppose if I encountered an actual case of ID theft I'd consider it for the convenience. But that's never happened to me, thankfully.

Having your card number stolen doesn't mean they have your identity. I've had my card number stolen at least 4 times, but never by an actual ID thief. You just close the card get issued a new one. No need to totally overreact or waste money on ID protection companies that use scare tactics.

Real ID theft is when they open new credit in your name. That's when things get messy.

Open an account at CreditKarma and read your credit report carefully. Look for any recent credit inquiries that you did not authorize or (worst case) new credit lines that you did not open. If you find those, then its time to go nuclear. Until then, just get a new card and stay vigilant.

>>719027
>>719045
>>719056
>401k
>automatic deposits
>bogleheads
>come up with a plan
>VTSAX
>VTIAX
>VBTLX
>VISVX
>VGSIX
Congrats anon. Seriously, you are ahead of 95% of the people you'll find on /biz/. Stay the course, and enjoy the rewards of your plan

>inb4 the haters, the cyptofags, the day-traders, the forex heros, and the TA mystics

>>718178
>Cant you take money from an IRA penalty free for a first time homebuyer exemption?
Not an accountant, so don't hold me to this. But I believe you take an inherited IRA subject to the same limitations and rules that would have applies if the original owner were still alive. So if the original owner could take the first-time home buyer's exclusion, then you could too. But if the original owner could not (e.g., already used it, too old), then you cannot either.

Of course, if you really need unfettered access to the fund, you can take a lump sum distribution. You will pay taxes but incur no penalty if you take the distribution within the time limits. Usually this is a bad idea, however because tax-sheltered savings (e.g., IRA balances) are the best way to grow your money long-term. Inheriting an IRA is like getting special one-time permission from the IRS to make a large contribution to your retirement savings, exceeding the limits that normally apply.

1. You can't empty an inherited IRA without incurring substantial tax penalties. You're going to want to leave it in an IRA.

2. You can move the IRA anywhere you want, including Vanguard.

3. Google "4 fund portfolio" to guide you in your investment decisions.

4. Be sure to take your RMDs if necessary or you will incur penalties, There are calculators online that can do this, or Vanguard can do it automatically. You have until 12/31 to figure this out, assuming the person died this year.

>>716898
Yes, of course it has to be the correct year. Otherwise how would the employee know which year to amend.

http://www.irs.gov/pub/irs-pdf/f1099msc_13.pdf

>>716810
As far as I know, yes. The employee has three years to file an amended return, so he has plenty of time to file his 1040x.

Mistakes happen. That's what corrected form are for.

Just issue a new 1099-Misc and check the "Corrected" box.

The employee will have to amend their own return.

http://www.irs.gov/pub/irs-pdf/i1099msc.pdf