DAVID COCKMAN – NCBA Hall Of Fame Inductee
We are pleased to announce that our friend David Cockman, an attorney with Vann Attorneys, 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, 2010 …
Collecting Accounts Receivable in Today’s Economy
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 …
Lien Waivers Can Have An Unexpected Result
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 …
Filing Annual Reports with the N.C. Secretary of States Office
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.
How To Collect Judgments: Examination Of The Debtor
As almost any credit manager knows, sometimes you may as well frame a judgment and hang it in your office if you can’t collect it. Oftentimes obtaining the judgment can be a relatively simple task; it is the collection of the judgment that requires finesse, after all, if the debtor wanted to pay the money owed, the debtor would have already paid …
Criminal Convictions Clashing with Employment
With the job market and employment rate being what it is, many potential employees are doing everything possible to clean up their records to improve their chances of employment. A recent article in the Wall Street Journal is a prime example of what is going on today. http://online.wsj.com/article/SB125789494126242343.html Employers often inquire as to whether the employment candidate has a criminal …
The North Carolina Court of Appeals Says Your Electronic Signature Is Just As Good As Your Written One
The North Carolina Court of Appeals Says Your Electronic Signature Is Just As Good As Your Written One By James R. VannAttorney at Law Suppose for a moment a business acquaintance of yours sends you an email proposing a specific transaction. And let’s suppose you respond that it sounds great, let’s do it. You might be thinking you haven’t really …
Electronic Signatures Gain Official Approval From North Carolina Court
Digital signatures have finally been officially approved by the North Carolina Court of Appeals. In a recent decision by the North Carolina Court of Appeals in Powell vs. City of Newton, the Court enforced a settlement agreement even though no settlement agreement had actually been signed. As far as we know, this is the first reference to this statute by …
Have You or Your Business Encountered Customers Filing for Bankruptcy?
Bankruptcy filings by customers continue to be an issue which business owners must deal with. According to reports recently released, third quarter 2009 bankruptcy filings increased by 33% compared to 2008. However, the third quarter 2009 business bankruptcy filings were slightly lower than the second quarter for 2009. If you or your business encounter customers and/or vendors filing for bankruptcy, …
Your Employee Signed A Non-Compete, So You’re Safe, Right?
It’s every business owner’s nightmare. You have a bright young employee, in whom you have made a significant investment. For three years, you’ve nurtured him, encouraged him, taught him everything about the business, paid him — and now he wants to quit and open a competing business to take away your customers and your revenues! In an effort to prevent …
If Your Employees Text While Driving, It Could Be Your Business That Crashes
Recent studies show that people who are reading or writing text messages while driving are 23 times more likely to crash. And most people agree that restricting the use of technology for sending and receiving text messages, emails, and other similar communications while driving makes sense. It is simply too dangerous. Effective Dec. 1, 2009, it will be unlawful to …
Ur Emp Shudnt Txt While Drving
We’ve all seen the headlines: “Driver in fatal crash was text messaging.” Reading or sending text messages on cell phone while driving is a dangerous practice, and as of December 1, 2009, an illegal one in North Carolina. Effective on that date, it will be unlawful to drive a motor vehicle and use a mobile telephone or other similar digital …
FTC “Red Flags” May Apply
The Federal Trade Commission (FTC) has issued regulations which require financial institutions and creditor’s to develop and implement a written plan to prevent identity theft. Part of the goal of the FTC is to have businesses detect, prevent and mitigate identity theft. The new regulations become effective August 1, 2009. As stated by the FTC, “a creditor is any entity …
Employment Policy Needed To Address Mobile Phone Usage While Driving
The Law In North Carolina, effective December 1, 2009, it will be unlawful to drive a motor vehicle and use a mobile telephone or other similar digital technology for email, texting, access to the internet or games. The law sets forth limitations as to what type of electronic information is or is not allowed while driving. The law makes it unlawful to …
Identify Theft and Beyond Is Your Company Compliant With North Carolina and Federal Law?
The North Carolina General Assembly in 2005 passed a bill entitled “Identity Theft Protection Act of 2005” and the law was amended in 2006. As you well know, identity theft is a growing and serious problem and it can be a problem for your business. There are various parts to the State law which are important for you and your company …
Tips for Making Non-Compete Agreements Valid
Most corporations want to protect their business interests and “trade secrets”. They often do this by having employees sign non- compete agreements and/or non-disclosure agreements. Corporations often think that this is enough to protect their interests. For non-compete agreements to be valid there are several requirements that must be met. The agreement must be designed to protect a legitimate business …