Did you ever consider the challenges which can arise when the equipment you supply has wheels or tracks and is mobile? For rental equipment suppliers, the provisions of Articles 2 and 3 of North Carolina General Statutes Chapter 44A and…
As the economy appears to be settling into what we can only presume is the new normal, once again contractors and subcontractors are, from time to time, filing petitions in the bankruptcy court. A few years ago, everyone was filing…
The practice of law represents a constant lesson in human nature. Clients oftentimes visit with us amid difficult personal and financial situations. Our job is to counsel our clients through tough times and provide them with logical options for the…
By: Paul A. Sheridan Many of our clients deal with municipal, county, and State agencies on a regular basis as part of their day to day business transactions. Occasionally an individual or business can sustain an injury as the result…
During the economic downturn in 2008-10, contractors on North Carolina public projects suffered significant losses due to the double payment risks in the then existing Little Miller Act. Taking their concerns to the legislature and working closely with other groups…
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…
“The health of a democratic society may be measured by the quality of functions performed by private citizens” – Alexis de Tocqueville, Democracy in America, 1835. In August of 2013, Governor McCrory signed into law House Bill 857 (codified as…
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…
By: Chad J. Cochran Yesterday at lunch, a woman ahead of me in line asked to pay for her sandwich with a check. The deli worker looked a bit startled and then replied, “I’ve been working here three months and…
In the past, many whistleblower claims arose out of simple revenge. A fired or aggrieved employee seeking retribution against his employer for a termination or demotion. Today, however, people are reporting complaints at an ever-increasing rate under a variety of…
Every now and then the listserv for the North Carolina Bar Association’s Bankruptcy Section lights up with a discussion which is of interest to creditors. One such discussion occurred recently regarding the duty of a creditor to report payments to…
Confusion often exists as to the differences between the multiple types of guaranty agreements and suretyship agreements in North Carolina. Although subtle differences can dictate when the liability of a party may be triggered, they do share some initial similarities. …
The Federal Reserve administers a key economic indicator, the federal-funds rate. Banks use the federal-funds rate to conduct overnight transactions which trade account balances maintained at the Federal Reserve. When the Fed raises this key rate, personal and business loan…
Generally speaking, secured lending is defined as a loan or extension of credit in which the borrower pledges an asset as collateral for the loan. A secured loan or transaction generally involves a two document system: an acknowledgment of the…
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…