Material vs. Minor Breach of Contract

Let’s say your supplier misses a delivery date or a contractor finishes a job but skips a few agreed-upon details. Is that enough to cancel the contract—or is it just a minor hiccup? In business, contracts are essential, but not every misstep amounts to a full-blown breach.

 If you're...

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Corporate Transparency Act (CTA) Update:  FinCEN Removes Beneficial Ownership Information (BOI) Reporting Requirements for U.S. Persons and Companies

Following the US Treasury Department’s statement that it would not enforce Beneficial Ownership Information (BOI) reporting requirements, FinCEN has announced that it will issue an interim final rule removing the BOI reporting requirements for U.S. persons and U.S. companies from the Corporate Transparency Act (CTA). 

Under this interim final...

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How Is Debt Handled During a Divorce?

North Carolina courts classify debt as marital, separate, or divisible. Marital debt includes loans, credit cards, mortgages and other obligations or financing either spouse took on during the marriage, even if the other was unaware, unless a judge determines otherwise. Separate debt includes any debt a spouse had before marriage or took...

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Corporate Transparency Act (CTA) Update:  Enforcement of Beneficial Ownership Information (BOI) Reporting Suspended

Just days after previously extending the Beneficial Ownership Information (BOI) reporting deadline, FinCEN announced on February 27th that all reporting and enforcement of the Corporate Transparency Act (CTA) would be suspended until a new reporting rule was finalized. 

On March 2nd, the US Treasury Department issued a press release in...

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Corporate Transparency Act (CTA) Update:  Beneficial Ownership Information (BOI) Reports Due by March 21, 2025

The U.S. District Court for the Eastern District of Texas has lifted the nationwide injunction that temporarily suspended beneficial ownership information (BOI) reporting requirements for companies.  In response to the Court’s ruling, FinCEN has issued a new deadline of March 21, 2025 for reporting companies to file BOI reports under the Corporate...

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Explaining the Legality of a Non-Compete Agreement

Employers may ask workers to sign non-compete agreements when they take high-level roles in the company or gain access to confidential, proprietary information that gives the employer a competitive advantage in the market. However, creating a legal, enforceable non-compete agreement means the agreement must meet various criteria. Courts may decline to enforce...

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