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SERVICEMEMBERS CIVIL RELIEF ACT

Have you ever heard of the Servicemembers Civil Relief Act (SCRA)?  If not, you will as it appears it has reared its head in the court system, again.  The basic premise of the SCRA is to prevent those in the…

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Strict Non-Compete Agreement Standards Upheld

By:  Chad J. Cochran   Non-compete agreements can have huge ramifications.  Sometimes, they serve to protect a company’s vital clients.  At other times, they prohibit an employee from finding gainful employment to support his family.  As a result, judges generally…

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IDENTIFYING PARTIES IN UCC FINANCING STATEMENTS

Effective July 1, 2013, identification of an individual who is party to a UCC-1 Financing Statement changed.  Gone are the days of listing the debtor as “Joe Smith.”  Now, you must use the name as it is indicated on the…

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The Art (and Implications) of the “Short-Pay”

Consider the following scenario: Seller claims $100.00 is due for goods provided.  Buyer claims that only $75.00 is owed.  Buyer then mails a check to Seller for $80.00, marked “paid in full”.  What are the consequences if the Seller deposits…

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Termination for Convenience Clauses

As part of the continuing series of articles identifying important construction contract clauses, perhaps the most impactful clause in a contract can be the standard termination for convenience clause. Imagine this scenario: your firm expended time and material in bidding…

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Tax Season: Understanding the I.R.S.

My first job out of law school was situated two blocks from the White House, working in a cubicle for the Internal Revenue Service.  I worked as a tax lawyer in the Exempt Organizations Group and reviewed organizations for a…

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Unlicensed Contracting is a Costly Mistake!

Oftentimes when there are claims involving quality of construction, non-payment of subcontractors or suppliers, or payments due to a general contractor for money due from an owner, issues of licensure suddenly appear. Whether or not a general contractor and certain…

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The Basics of Pass-Thru Entities

Some businesses must pay income taxes. Some need not. Some businesses must file annual federal tax returns. Some need not. During tax season, these issues obviously take on added importance. We have recently fielded dozens of related questions and formed…

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Oakwood Neighborhood Court Ruling: A Lesson for Developers

A Wake County Superior Court Judge issued a ruling this week in a highly publicized land development / zoning case.  The ruling ended another chapter in this highly controversial case, and further appeals are very possible.  The case centers around whether a…

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Nondischargeable Debts in Bankruptcy

Bankruptcy is designed to give debtors a “fresh start.”  Accordingly, a bankruptcy discharge releases a debtor from liability for certain debts which the bankrupt party previously owed.  A debt discharged in bankruptcy is no longer owed. Bankruptcy is often cruel…

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