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Legal Aspects of Purchasing

Buyer's rights

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Buyer's rights refers to the right that a person has to take a percentage of goods that have been bought for another person. This percentage is typically 10% however it can increase if the buyer has to travel far to retrieve the goods.

Finder's fee

In the United States, a finder's fee is the compensation given to an intermediary in a business transaction. Usually, there is a casual relationship between the one party and the intermediary (the finder), another relationship between the finder and the second party, and the two parties of the transaction would not have met if it weren't for the work of the finder. Such compensation is common in business and is regulated by contractual agreements and law in the United States. A finder's fee can also be a gift from one party of the transaction, who feel morally obligated that the profits of the transaction be shared with the finder for making that transaction possible.

A comparable practice exists in medicine, called fee-splitting: if a cardiologist performs an angiogram and advises the patient to have a CABG operation, naming a specific cardiac surgeon, the surgeon can divide his/her fee with the referring cardiologist. Similarly, if a gastroenterologist performs a colonoscopy atnd finds a tumor that he/she is not licensed to remove, he/she can refer the patient to a surgeon who is so licensed. The surgeon can reward the referring doctor with a portion of the surgical fee. This cozy arrangement is generally illegal.

The use of deed transfers is common in all quarters of the world. Essentially a generic term that encompasses all types of transferring a deed from one person or entity to another, the deed transfer is a means of ensuring that buying and selling property is kept within the standards set by the laws of the country where the transaction takes place. Here are some things to keep in mind about the process of deed transfers, as well as a couple of examples of deeds that may be transferred.

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Buyer's Rights