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The purpose of setting up a business entity is to protect yourself – as a founder, officer, director, or shareholder – from personal liability for your business’ debts and legal obligations. The law recognizes a corporation as a separate legal “person” for liability purposes. This means that if a third-party obtains a judgment against your […]
If you have ever negotiated a real estate or commercial contract, you’re likely familiar with the term “liquidated damages.” Liquidated damages are, in short, a sum that a party agrees to pay in the event he breaches a contract. Stated differently, the parties can agree up front how much the breaching party will owe the […]
The rules implementing statewide mediated settlement conferences in North Carolina generally require litigants to attend a pre-trial mediated settlement conference and typically a case management order establishes a deadline for completion of the conference. Parties are free to decide how close to the deadline (or early) that the conference will be scheduled. There is a […]
Our firm routinely handles claims by contractors, lenders, and property owners involving construction defects, delays, and contract disputes. Many times, parties to a construction loan or development agreement modify the terms of the original agreement. The terms of these modifications—and how they affect the parties’ obligations—are often disputed. A recent opinion from the North Carolina […]
The landscape in civil litigation was changed forever when the mediated settlement conference became a mandatory part of civil superior court cases in North Carolina. Most lawyers share the sentiment that the change was for the better, although not all of them thought it would turn out that way. Given the cost to appropriately litigate […]
What to Expect in North Carolina Foreclosure Proceedings Whether you are a homeowner or a judgment creditor with a lien on real property, understanding the foreclosure process is critical, as it affects your rights as either a debtor or a creditor. North Carolina is a “power of sale” state, meaning that foreclosure proceedings are ultimately […]
Reciprocal Attorneys’ Fees Provisions in Business Contracts We have previously discussed the scenarios in which prevailing parties in litigation can – and cannot – recoup their attorneys’ fees. Unfortunately, the law is not particularly generous in allowing parties to recover their fees and costs. Because there is one aspect of the relevant law that continually […]
Issues surrounding the execution and validity of powers of attorney can dramatically impact litigation, especially when a party is adjudicated incompetent. When this happens, questions about the validity of the document inevitably arise, and occasionally the motives of the agent acting on behalf of an incapacitated party come into question. It doesn’t help that the […]
Clients often want to know what they can do to evict tenants from property that they own and lease for business or residential use. Unfortunately, property owners will likely face an eviction at some point. Eviction actions are known as “summary ejectments.” The law on summary ejectments is a bit different from other areas of […]
The number one priority for landlords should be generating profit, not fighting with tenants. As such, it is vital for residential and commercial landlords alike to know and comply with the laws governing their relationships with tenants so as to avoid unnecessary, and often costly, conflicts. The security deposit, which is intended to protect landlords […]
