Download e-book for iPad: Aircraft Ownership : A Legal and Tax Guide by Raymond Speciale

By Raymond Speciale

ISBN-10: 0071407642

ISBN-13: 9780071407649

ISBN-10: 0071434003

ISBN-13: 9780071434003

* bargains ''how to'' info and ideas to the commonest felony and tax matters dealing with basic aviation airplane owners--in layman's phrases

* circulate charts, diagrams, and criminal case briefs offer genuine global situations of every dialogue

* CD-ROM comprises downloadable varieties, agreements, and checklists

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Sample text

26 Buying or Selling an Aircraft Prepurchase inspection Of course, if you are an aircraft buyer, it is always good practice to perform a thorough prepurchase inspection of the aircraft you are proposing to purchase. From your perspective, the entire agreement should be contingent on the findings of the prepurchase inspection. This is also a good time to think about the contract you may enter into with the company you are hiring to do your prepurchase inspection. Does the agreement spell out what you want done for the inspection?

The Code’s provision on parol evidence does not preclude consideration of the express warranty. That section states: Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a writing intended by the parties as a final expression of their agreement with respect to such terms as are included therein may not be contradicted by evidence of any prior agreement or of a contemporaneous oral agreement but may be explained or supplemented(b) by evidence of consistent additional terms unless the court finds the writing to have been intended also as a complete and exclusive statement of the terms of the agreement.

Essentially, your prospective lender wants to make sure you generate enough income or have enough assets to make your loan a safe bet. To get this information, the prospective lender will probably request a personal financial statement and/or copies of past filed income tax returns. A personal financial statement will request information regarding your employment history and annual income. The lender may verify this information with a phone call to your employer with your signature on a waiver allowing the information to be released by your employer.

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Aircraft Ownership : A Legal and Tax Guide by Raymond Speciale

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