By: David Conaway, Partner, Bankruptcy Practice Administrator, Shumaker, Loop & Kendrick, LLP

The purpose of a sales contract is to define the parties’ obligations and to optimize outcome if a dispute arises. As such, a contract is a tool to manage risk and prevent loss. The good news is the vast majority of contracts are performed as planned, and no issues arise. The bad news is when issues arise, they can be costly, eroding or eliminating the anticipated profits, or causing loss from the transactions.

In particular, sales contracts for the sale of goods are based on Article 2 of the Uniform Commercial Code, which has been adopted by every U.S. state. When disputes have arisen, U.S.… Read the rest

Federal Trade Commission Consumer Protection Resources……

FCRA – Fair Credit Reporting Act

Federal Government legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.

FACTA – Fair & Accurate Credit Transaction Act

FACTA is an amendment to FCRA (Fair Credit Reporting Act ) that was added, primarily, to protect consumers from identity theft. The Act stipulates requirements for information privacy, accuracy and disposal and limits the ways consumer information can be shared. Details include:

• The three major credit reporting agencies are required to provide consumers’ credit reports to the consumer, without charge.
• Consumers can place an alert message on their files if they suspect they have been victims of fraud.

The risks and uncertainties associated with true mechanic’s lien litigation in addition to the legal costs typically make a settlement of 75% or 85% of a claim a “good settlement.”

Essentially, you are litigating multiple cases simultaneously. In fact, most mechanic’s lien lawsuits have multiple counts. There’s a basic contract case in which you must prove your “statement of account,” that you supplied labor and material in accordance with the contract, without defects and on time. It is usually good practice to plead an unjust enrichment or quantum meruit count in the alternative.

You must also prove your mechanic’s lien, your last day of work and that you filed the lien on time. Then you need to prove that the lien identifies the correct property and property owner and that you have all necessary parties in the lawsuit.… Read the rest

References are an important tool in determining creditworthiness and should be included on any credit application. It is important to note, however, that the references listed on a credit application are probably not the most important references with whom to speak.

A debtor will likely list the people who will report positive information. You need to speak with neutral references that are willing to tell you the good and the bad about the customer.

Follow up on references provided on application forms as well as from other sources. Credit networking groups and salespeople can help achieve this goal. Sales staff often has opportunities to chat with customers about common acquaintances. Call some of the people mentioned and discuss the customer.… Read the rest

We all have “That One Thing” that we know would save time or make our job easier. Neal Otto, Jump-start Computer Training, one of our most requested presenters has some tips and tricks that will help you with That One Thing!

Neal also has a new series of webinar trainings and is offering NACM Northwest members an exclusive discount; receive $30 off a 90 minute webinar and $60 off a three-hour webinar. Click here to check out the list of webinars Neal and his team at Jump-Start Computer Training are offering.

Use the coupon code: nacm at check out for the discount.

If you have any questions or have issues please contact Shawna Kelly: skelly@nacmcs.org… Read the rest

Thank you everyone who attended the 2016 Member Appreciation Breakfast. We raised $620 for the NACM Northwest Foundation Scholarship Fund with the raffle and silent auction. Thank you again to all the members and individuals who donated items and money to make our first raffle a success! Check out the video below to see the fun festivities!

Members who Donated:

• Boyd Coffee Co.
• Brighton Collectibles
• Columbia River Knife & Tool
• Columbia Sportswear Company
• Dolan Northwest LLC
• Hazelnut Growers Of Oregon
• Keen, Inc.
• Miller Paint Company, Inc.

Individuals who donated
• Linda Bishop, CCE, CICP
• Marsha Johnson, CCE
• Charlene Gothard, CBF

… Read the rest

By Amy E. Geerhart, Attorney, Sussman Shank LLP

Washington adopted meaningful changes to its business laws effective January 1, 2016, substantially modifying legal requirements for Washington limited liability companies and filing obligations for all forms of business entities. These changes were codified in the revised Washington Limited Liability Company Act (the “Revised Act”) and in changes to the Uniform Business Organizations Code, which changes are commonly referred to by the bill name that carried them into law (“Hub Bill”).

REVISED WASHINGTON LIMITED LIABILITY COMPANY ACT

Voting Scheme

One of the more notable changes in the Revised Act changes the default rules regarding voting rights of members. Under the prior LLC Act, as is the case with most other types of entities, member votes are based on the percentage of ownership, meaning that a member owning, for example, 60 percent of the ownership interests can always outvote a member owning the remaining 40 percent.… Read the rest