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These telephone seminars are presented by national speakers who are experts in their areas of practice often ABA Section chairs, authors of books in their areas of practice, and heads of practice groups.
Despite the best laid plans and careful draftsmanship, errors occur in transactions and their underlying documents. The parties may have had a misunderstanding of a crucial fact or there may have been a misunderstanding of the applicable law, leaving the parties with a practically or legally defective arrangement. Or a simple drafting error may have been made in one or more of the transaction’s underlying documents. Rescission, backdating and other forms of transactional modification are available to correct these mistakes. This program will provide you with a practical guide to using rescission, backdating and other forms of modification to fix transactional errors, teach you about the best uses and limits of each technique, and discuss the tax and other consequences of using these techniques.
- Use of rescission, backdating and other forms of modification to fix transactional documents after the fact
- Correction of errors, memorialization or ratification of past actions, clarification of ambiguity in documents
- Types of modifications – rescission, backdating of initial actions, backdating modifications
- Practical efficacy and limits of rescission and backdating
- Special use of rescission to save S Corp status of a corporation
- Tax consequences of rescission and other corrective measures
Allen Sparkman, Sparkman Foote, LLP – Houston and Denver
Once registered you will receive from the MSBA an email containing the toll-free telephone number to call on the day of the seminar. You will also receive a pdf containing the materials for the program to print. This email will be sent to you the day before the program date.