Reuters (07/05/12)
The number of Americans who filed requests for jobless benefits declined by 14,000 last week to 374,000, the lowest level in six weeks, the U.S. Department of Labor reported today. Claims from two weeks ago were revised up to 388,000 from an originally reported 386,000. Economists polled by Reuters had forecast claims falling to 385,000 last week. The four-week moving average for new claims fell 1,500 to 385,750.
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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