How do you document a situation where you are owed money in a business transaction? Can you draft your own promissory note? What specifics are needed in a promissory note? I have heard of a Confession of Judgment but what is it and how can I use it to benefit my business?
What constitutes a contract and when is a contract formed is a great question to consider. We look at a lot of contracts and issues for our clients surrounding contract questions. Many of our business clients have a great understanding of what a contract is and how it is formed. As we all continue to learn, some facts can change what appears to be a straightforward looking transaction.
Starting a new business is always a thrilling endeavor filled with excitement, enthusiasm and fear. When to start the new business is always a question business owners often contemplate. When should the owner incorporate the business, what is the economy doing, when is the greatest need for the business, is one time better than another are all questions that business owners ponder.
Often I get phone calls where a potential clients wants to share with me a conversation that they had with a party they are involved in a dispute with. Sometimes, the conversation which is being recounted to me sounds as though it was in the context of settlement. An analysis must then to be done as to what extent, if at all, the conversation might be admissible in a courtroom one day.
Lawyers often hear the question, “Where should my lawsuit be filed?” Or someone might ask, “Was this lawsuit filed in the correct court?” These are important questions, the answer to which should inform your next steps in a legal matter.
This is a very common question from clients and potential clients. As you may expect, the answer is: it depends. There are many factors to be considered when contemplating litigation. These factors include…
I frequently receive phone calls from upset business owners who are dealing with either disgruntled employees or customers. In the age of the internet and social media, more often than not, the employee or customer has posted something negative online. Usually the business owner will approach me with some type of working knowledge of North Carolina defamation laws, as their first step after reading the review tends to be performing a Google search on what their legal rights might be. With these types of claims it is important to have a lawyer who views themselves not only as an advocate but also as a counselor and advisor.
As we all know, it is important to know who you are contracting and working with in the business context. Especially when there is a business entity involved. Do you know the actual and correct business name? In the construction trade, if the company says they are owner of real estate, does that matter for lien rights?
I have a friend who is a lawyer in another state. He and I were talking one day and I asked him, “If you were to give any advice to a lawyer representing a client in an active court case, what advice would you give him or her?” He chuckled, thought for a moment, and then gave me some good advice.
This webinar discusses how to best protect your business when your customers file bankruptcy. How should you respond? What can you do to protect your business now? What are preference payments and how do you avoid them? Are you a secured or unsecured creditor?
As you know, for the past several weeks, courthouses and judicial employees across the State have been operating in a limited capacity with regard to court hearings and other judicial proceedings. Chief Justice Cheri Beasley issued orders postponing certain court hearings and limiting courthouse activity. Justice Beasley also extended filing and other court-related deadlines to June 1, 2020.
Each business incorporated with the North Carolina Secretary of State’s office is required to file an annual report with the Secretary of State’s office each year. The type of business entity will likely determine when the report is actually due to the Secretary of State. If you as a business owner have several incorporated businesses which differ in the type of entity (a corporation, an s-corporation, limited liability company, etc.), your annual reports could be due at different times.
Given the current state of things, it can be very tempting for individuals and small businesses to want to take on new business ventures or enter into new business deals right now. When entering into any business agreement with any person or entity, new or familiar, we urge you to have a written contract detailing the terms and conditions of the agreement.
I recently had the privilege of speaking to a business trade association on the topic of antitrust. This topic and discussion reminded me of the importance of how business need to comply with the federal and state laws on antitrust. The antitrust law, federal and state, are designed to protect the public.
“Can I recover my attorney’s fees?” is a question we often receive at the outset of litigation. The general rule in North Carolina is that each party is responsible for its own attorney’s fees, unless the contract or a statute provides otherwise.
Clients often come to us for help recovering money owed on various contracts, agreements, payments, services and products. Depending on the circumstances, we may recommend sending a letter to the debtor to demand payment of the total balance owed. Sometimes, debtors (or their attorneys) respond to the demand letter, the line of communication continues, and we can work toward a resolution of the matter.
Many presume that the use of emojis are frivolous and more fun than serious. However, the use of emojis can raise complicated and complex legal questions and issues.
In a society fueled by online reviews from (purported) customers, negative reviews can have an impact on a business’s bottom line. A common question arises about how to stop a disgruntled customer from peppering online review websites and social media platforms with negative (and potentially inaccurate) reviews about your business.
When your business exchanges quote requests, quotes, purchase orders, and contracts with customers or clients, which document’s “terms & conditions” apply? Here’s a scenario we often see in business law: Your business works to establish a contract with a client or customer. Your customer sends in a request for a quote – that request includes terms & conditions. Your company then sends the customer a quote with terms & conditions. Your customer then sends in a purchase order with its own terms & conditions. Your company finally delivers a confirmation which includes its own terms & conditions. So which terms and conditions apply?! Join James Vann during this fast-paced webinar reviewing Terms and Conditions in business contracts. Join James Vann during this fast-paced webinar reviewing Terms and Conditions in business contracts.
COMPLIMENTARY WEBINAR FOR OUR CLIENTS & GUESTS J.D. Hensarling Lindsey B. Revels Ian Richardson When a customer writes in the memo field, does that impact collection? What happens when a customer remits payment to another branch? Do you know what to do when a customer makes a payment for less than the full amount? How do you handle credit card …