Tag Archives: NJLaw

How Much Cash Can You Keep When You File for Bankruptcy?

The amount of cash you can keep when you file for bankruptcy depends on how much of it qualifies as exempt assets. When you file for bankruptcy, exemptions are your property deemed by the bankruptcy court to be necessary in starting over. The laws dictating them determine how much cash you can keep. The Amount of Cash You Can Keep Though there are federal exemption laws, exemption laws differ state to state. In New Jersey, you can either use NJ state exceptions or federal bankruptcy exemptions to determine what property you can keep. You cannot, however, mix between the two sets of laws. You must choose either federal or state exemption laws to work with. In the case of both sets of laws, cash includes both money in your bank and paper cash as well. One type of cash generally not exempt under either set is cash from exempt property sold…
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How to Defend Against a Breach of Contract Claim

If you find yourself on the defensive in a breach of contract claim, you need to raise as many defenses as possible. These defenses are called “affirmative defenses”, which means that it is up to you prove your defense. It isn’t really enough to just deny that you made the breach at all, which is why an affirmative defense follows the old adage that “the best defense is a good offense.” The best way to defend against a breach of contract claim is to prove that there was a flaw in the contract. There are a variety of “flaws” that may be the basis of your defense. Some examples of commonly used defenses in these cases are as follows: The contract wasn’t in writing – If the contract in question was an oral contract, you may be able to prove its illegitimacy. There was a mistake – If there was…
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