What Constitutes a Contract in North Carolina?

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.

A Written Contract is Always a Good Idea

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.

Webinar: Contract Terms Are Even More Important Now

Why are contract terms even more important now given the impact of COVID-19? What contract terms might allow for unintended circumstances? We look to see how contract terms and conditions may impact your business, real estate transactions, contracts for services and supplier chains. Every situation and contract is different. Thus, it is important to know if you have exposure and how to respond.

Webinar: Contract Law – Which Terms Really Apply?

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.

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

NSF Checks: How to Respond When a Customer Issues an Non-sufficient Funds Check By James R. VannAttorney at Law   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 …

Confidentiality Provisions in Settlement Agreements

If you’ve ever signed a settlement agreement resolving some dispute, chances are pretty good it contained a confidentiality provision. In many cases, one side or both wish to keep the terms of a settlement to themselves – whether to avoid disclosure of amounts paid to settle or for some other reason. In our experience, these provisions are often paid lip …

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 …

Spousal Guarantees | Raleigh Law Firm

Obviously, creditors would like to obtain as much security as possible prior to making a loan, but it is also important to keep in mind the Equal Credit Opportunity Act (ECOA). For anyone not familiar with the ECOA, it is a federal law that prohibits lenders from discriminating against borrowers based on their race, religion, national origin, sex, or marital …

Understanding What You Sign | Raleigh Law Firm

Failing to carefully review a legal document can be expensive – in one recent case, it cost a homeowner $7,000. In the summer of 2011, a satellite dish installer broke a water line at a Mecklenburg County, North Carolina residence. The resulting damage to the property was significant, and the homeowner submitted a claim with the installer’s insurance agent. After …

Does Drafting a Contract Really Require Learning Legalese?

Attorneys are often accused of writing overly complex and confusing documents, and nowhere does this seem to occur more often than in contracts – whether leases, purchase agreements, settlement agreements, or non-compete agreements. This type of writing includes phrases that only seem to exist in old books and new contracts – for example, “hereinbefore” instead of “above.” There are a …

Webinar: Common Issues in Business Contracts in North Carolina

Wednesday, June 19, 2013 from 3:00 to 3:30 p.m. Vann & Sheridan Webinar: Common Issues in Business Contracts Do you have questions about provisions in business contracts? What do specific contract terms generally mean? We will address common questions to clarify the terms and conditions of business contracts. Presenters: James R. Vann Attorney at Law Vann & Sheridan Attorneys at …

Contracts: To Avoid Risks, Plan, Review and Be Precise

Whether it’s buying a home, applying for credit or accepting a new job, people and businesses are drafting and executing contracts every day. Often, these contracts are not understood by the individuals signing them and perhaps not even read. Even lawyers such as this one have signed (or clicked) without reviewing all of the fine print. Nobody likes reading through …

Franchisors Entitled to Lost Profits from Terminated Franchisees

Earlier this year, the United States Court of Appeals for the Fourth Circuit considered a case where a franchisor sought to recover lost profits from a franchisee it terminated for a breach of the franchise agreement. In Meineke Car Care Centers, Inc. v. RLB Holdings, LLC, the Court ruled that even though the franchise agreement did not specifically provide for …