ShmoopTube

Where Monty Python meets your 10th grade teacher.

Search Thousands of Shmoop Videos


Ethics/Morals Videos 193 videos

Finance: How Are Risks and Rewards Related?
589 Views

How are risk and reward related? Take more risk, expect more reward. A lottery ticket might be worth a billion dollars, but if the odds are one in...

Finance: What is Bankruptcy?
260 Views

What is bankruptcy? Deadbeats who can't pay their bills declare bankruptcy. Either they borrowed too much money, or the business fell apart. They t...

Finance: What is Selling Away?
8 Views

Selling away is the practice of selling securities that aren't under the seller's auspices to sell.

See All

Finance: What is Consent To Service Of Process? 156 Views


Share It!


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.

Language:
English Language

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

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

Related Videos

GED Social Studies 1.1 Civics and Government
39794 Views

GED Social Studies 1.1 Civics and Government

Fake News
11938 Views

How do you tell fake news from real news?

Finance: What is Bankruptcy?
260 Views

What is bankruptcy? Deadbeats who can't pay their bills declare bankruptcy. Either they borrowed too much money, or the business fell apart. They t...

Finance: What is a Dividend?
1777 Views

What's a dividend? At will, the board of directors can pay a dividend on common stock. Usually, that payout is some percentage less than 100 of ear...

Finance: How Are Risks and Rewards Related?
589 Views

How are risk and reward related? Take more risk, expect more reward. A lottery ticket might be worth a billion dollars, but if the odds are one in...