Bloomberg (10/31/13) Lorraine Woellert
The number of people who applied for unemployment benefits fell during the week ended Oct. 26. Jobless claims dropped by 10,000 to 340,000, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had predicted a drop to 338,000. The less-volatile four-week moving average of new jobless claims rose to 356,250 from 348,250. According to a DOL spokesperson, California said no claims last week represented applications from past weeks.
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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