Whenever a new year rolls around, you often hear people making resolutions for themselves. But wouldn’t it be great if we could improve both ourselves AND our businesses this year? Such a goal can easily be achieved by formulating a business plan specific to your company. But what is a “business plan”? Generally, it is a plan that lays out …
It is always interesting when a court holds that the laws of another country should apply, and such was the ruling in Albemarle Corp. v. AstraZeneca UK Ltd. After examining the contract between the two parties, the Court held that even though the contract’s forum selection clause would have been allowed under American law and the lawsuit could have been …
What happens to you and your fellow co-workers when the office network is down? Complete and utter chaos, right? This is a fairly predictable answer since in today’s world, paper files are becoming a thing of the past. Instead, we scan documents into the system, make an electronic file, and people then view the information on their laptops, smart phones, …
When people encounter high pressure situations, their bodies react in one of three ways: fight, flight, or freeze. What some employers do not recognize is that when employees find themselves in unexpected high stress situations, more often than not, workers freeze and are unable to adequately deal with the situation unfolding around them. So how can employers prepare employees for …
North Carolina has been making headlines. Why? Because in October 2010, the state’s residential foreclosure rate increased 40 percent from last year’s figure and 13 percent from September 2010’s figure. According to the Irvine, CA based company Realty Trac Inc., which keeps tabs on default notices, auction sale notices, and bank repossessions, in October 2010, 4,818 North Carolina homes were …
In the movie Urban Cowboy, Johnny Lee sang “looking for love in all the wrong places”. The North Carolina Supreme Court in Kinlaw vs. Harris recently heard a case which could be summarized “looking for assets in all the wrong places”. The issue before the Court was whether a debtor’s property was free from execution and thereby allowing the debtor …
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. …
Arbitration Agreements: many business people have heard of them, many businesses have signed one, and some businesses have even gone through arbitration. Arbitration can be a good alternative in the right circumstance. However, don’t assume arbitration is the best for you without doing sufficient homework. Despite the familiarity or arbitration agreements, the agreements sometimes still require a basic question to …
Suppose your company contracts with another company for the supply of materials. The company you contracted with then contracts with an out of state company to add a “powder coating” to the materials you have just ordered. Then suppose this coating flakes off right after you use the materials. So, if letters, phone calls, emails and/or attempts at negotiations don’t …
We all hear from others and may say to our customers from time to time, “how can we help you?” Well, when we ask you that question, we really mean it. We enjoy helping our clients with legal challenges, developing options for you and designing creative solutions for the particular question or issue you may be facing. So often people …
Every company encounters challenging economic times due to the economy. Managing the receivables, payables and cash flow of your business are key components to the overall financial health of your business. It can be difficult but it is possible to manage the unexpected issues which arise from time to time as well as the impact from our economy. Stay Focused …
A vital benefit the legal process of obtaining a judgment affords you is the ability to utilize the services of the local Sheriff’s Office in an effort to collect the debt. Once a judgment is recorded, the appeal period has passed, and, if required, Notice of Right to Claim Exempt Property has been served, your attorney can obtain a Writ …
Our attorneys come across a wide variety of contracts on a daily basis, from credit applications to payment plan agreements to promissory notes. If there is one thing they have in common, it is that each contract is unique. That is why it is important that you make sure you read and fully understand any contract that you sign on …
We are pleased to announce that our friend David Cockman, an attorney with Vann & Sheridan, recently received a well deserved honor – admission into the North Carolina Bar Association’s General Practice Hall of Fame. The NCBA Hall of Fame is a highly prestigious institution which typically admits only six attorneys per year statewide. David’s official induction occurred June 24, …
Most businesses have faced and may continue to face challenges in collecting past due accounts receivable. Being persistent generally will increase your productivity in collection and remaining positive will certainly help you stay in a better frame of mind! Statistics support the idea that most customers want to pay their past due accounts. Thus, being persistent in asking for payment …
In construction cases, lien waivers are generally used as requests for payment are made. Caution is the word when dealing with lien waivers. In a recent case decided by the North Carolina Business Court, (Wachovia Bank vs Superior Construction Corp.) the Court interpreted a lien wavier against the general contractor. In this case, Wachovia was the lender and Superior Construction …
The North Carolina Secretary of State’s Office recently mailed out “Notices of Grounds of Administrative Dissolution” to businesses which lacked one or more filed annual reports. As you are probably aware, business corporations and limited liability companies which are approved to conduct business in the State by the N.C. Secretary of State are required to file annual reports with the Secretary of State. Being delinquent on filing the annual reports is grounds for administrative dissolution. If a business is administratively dissolved, the business no longer has what is referred to as the “corporate shell” which could create personal liability for the owners, board of directors and officers of the business.
