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Finance: What is Consent To Service Of Process? 156 Views
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Description:
What is Consent To Service Of Process? A Consent to Service of Process is basically a Power of Attorney type of relationship established between an individual and a company so that the company has the authority to accept legal documents on behalf of the individual.
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Accounting
- Terms and Concepts / Bonds
- Terms and Concepts / Company Management
- Terms and Concepts / Econ
- Terms and Concepts / Ethics/Morals
- Terms and Concepts / Managed Funds
- Terms and Concepts / Metrics
- Terms and Concepts / Regulations
- Terms and Concepts / Stocks
- Terms and Concepts / Trading
Transcript
- 00:00
Finance a la shmoop what is consent to service of process alright well it's [Woman appears on stage]
- 00:09
like when you in tone ironically so sue me and they do or at least they can
- 00:15
well this phrase consent to service of process is a legal acceptance of
- 00:20
financial responsibility when you set up your company in whatever form in [Women discussing company matters]
- 00:25
whatever given state that is when you consent to being served lawsuit papers
Full Transcript
- 00:32
at your address of record it makes it all the easier for well whoever to sue [Lawyer gives woman a lawsuit]
- 00:37
you they don't have to hunt you down in the woods or wait for you to show up at
- 00:41
your PO-- box or to try to ID you in a you know Where's Waldo drawing it's hard [Waldo appears in a crowd and runs away]
- 00:47
to do well all they have to do is send what's called a process server basically
- 00:51
registered mail who identifies you and then he you know takes a selfie of [Man takes a selfie with a woman]
- 00:56
himself serving you papers ie handing you an envelope stating that you are
- 01:00
being served well the state had to require this consent because too many
- 01:05
deadbeat companies absconded with unpaid bills unserved responsibilities in
- 01:12
contracts and other omissions that finally force the government to say
- 01:16
enough if you want to do business in our neck of the woods then you'll consent to [Government working demanding consent]
- 01:20
being sued easily and being served yeah don't worry it only hurts the first time
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