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 …
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 …
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 …
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 …
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 …
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 …
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 …
