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, …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
According to the law of North Carolina, business entities registered with the North Carolina Secretary of State are not required to file corporate minutes with the North Carolina Secretary of State’s Office. Recently, the North Carolina Secretary of State’s Office received questions about a mailing which businesses received regarding “Annual Minutes Requirement Statement”. This mailing was a solicitation from a …
Notices of Contract and Notices of Subcontract: What They Are, How They Protect Your Rights, And How They May Be AttackedBy James R. VannAttorney at Law A lawsuit or mechanic’s lien arises from many, if not most, construction projects. Situations arise where subcontractors or materialmen are not paid, subcontractors are kicked off projects, disputes arise with respect to quality of workmanship …
More often than necessary, civil judgments are not satisfied, and the corporate judgment debtor is not forced to pay. However, there are several often overlooked statutes providing effective tools for collecting otherwise unenforceable judgments. State codes of statutes often provide assistance to the creditor who is unable to locate other assets of the debtor and must resort to collecting the …
In Fagen’s of North Carolina, Inc. v. Rocky River Real Estate Company, et al., 451 S.E. 2d 872 (N.C. App. 1995), the Court of Appeals of North Carolina held that it is the specific terms of a contract and the intent of the parties involved, not general statements of law, that control any agreement. In Fagen, the customer failed to pay the …
North Carolina is blessed with numerous federally-owned facilities. These facilities are frequently the sites for construction projects, some of substantial proportion. Many subcontractors and material suppliers find themselves working on projects located in or on federal facilities and know the projects are exempt from state law lien protection but are protected by payment bonds. WHEN ARE BONDS REQUIRED Congress passed …
Cashing a Customer’s Check: What Creditors Need to Know about Accord and SatisfactionBy James R. VannAttorney at Law We had a webinar on this topic on Tuesday, May 13, 2014 from 3:00 – 3:30 p.m. Our webinar was titled : Handling Money of Others – Sales Tax, Escheat Property & Cashing Checks. Visit our event page for details. You have billed a …
Service Of Summons And Complaints: New And Improved Ways To Serve Debtors/Defendants With Summons And ComplaintBy James R. VannAttorney at Law The North Carolina General Assembly has passed new legislation which gives Creditors/Plaintiffs an alternative way to serve a Debtor/Defendant with legal documents. How many times have you or your attorney been forced to chase a Debtor/Defendant in order to have …
The Supreme Court of North Carolina recently ruled in Perkins v. CCH Computax, Inc., 423 S.E.2d 780 (Dec. 1992) that parties may contract and bind themselves as to where they may sue and be sued. The Supreme Court held that _forum selection clauses_ (clauses which provide or dictate a particular judicial court) which purport to dictate the _venue of an action_ (the particular location of …
For many, the concept of bankruptcy is a familiar one. Conversely, people are less accustomed to the principle of state court receivership. Therefore, it is shocking for many to realize that state court receivership is basically a state substitute for federal bankruptcy. Receivership provides an orderly scheme to preserve assets, prevent preference, and to assure the equitable distribution of an …
Suppose you have invested labor and parts in a piece of construction equipment and you have not been paid. The person with whom you contracted for the repair of this equipment is not the title owner; rather, the person who took the equipment to you and asked you to repair it leased the equipment from the owner in order to perform some …
