Wall Street Journal (06/07/12) Josh Mitchell; Eric Morath
The number of Americans who filed requests for jobless benefits fell by 12,000 last week to 377,000, the U.S. Department of Labor reported today. Claims from two weeks ago were revised up to 389,000 from 383,000. New claims were below the 380,000 figure forecast by economists surveyed by Dow Jones Newswires. The average of new claims over the past four weeks, meanwhile, edged up by 1,750 to 377,750, the highest level in a month.
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
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