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NSF Checks: How to Respond When a Customer Issues an Non-sufficient Funds Check

Customer Issues a NSF Check that Does Not Clear Even with all the payment options available today, paper checks are still a popular form of payment especially in the business world.  So, what options are available to you to help recover the check if your customer’s NSF check does not clear?  North Carolina law provides several options for creditors. Civil Penalties The person or corporation who knowingly issues a check …Read More

Joint Check Agreements – Not a Silver Bullet

Joint check agreements, or joint pay agreements, are a common credit management device, and can be an excellent tool to make sure that you get paid when your customer does. In most cases, however, they do not create a situation where you can seek money directly from the general contractor. In order to use them effectively, it is important to know what they can do, and what they cannot. A …Read More

Foreclosing Deeds of Trust: Another Collection Tool

Over the past couple of years, there has been a substantial increase in foreclosures in North Carolina and around the nation. Certainly, the poor economy has been a major reason for the increase. However, according to the Greater Wilmington Business Journal, foreclosures in North Carolina declined in September. Many of our clients make use of Promissory Notes secured by Deeds of Trust on real property as a means of securing …Read More

Business Planning: Establishing and Maintaining An Effective Corporate Entity

We can help your business achieve the protection that the corporate structure is supposed to provide and would be happy to discuss your corporate status and documentation with you.

−Business Planning: Establishing and Maintaining An Effective Corporate Entity

Setting up a new business venture seems simple enough, particularly with all of the information available online. Many believe once they file their LLC or corporation with the Secretary of State, their business is established and they are protected from personal liability. Unfortunately, that belief is not accurate. While technically the corporation or LLC exists upon filing, there are several reasons why the individual business owner still may not benefit …Read More

Enforcing Judgments From Another State

In the recent North Carolina Court of Appeals case, Gardner v. Tallmadge, the Court held that a foreign judgment (a judgment issued in another state) was not enforceable in North Carolina since the Ohio court that originally issued the judgment lacked subject matter jurisdiction to do so. In Gardner, Mr. Tallmadge entered into a demand cognovit promissory note with Mr. Gardner.  A cognovit agreement is one in which the debtor …Read More

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