How long do you have to bring a case on a converted check? Three years. It’s strictly construed and starts at the time it happens, not the time the cause is discovered.
If you’re in litigation involving escrowed funds, it’s important to name the escrow agent so that any resulting order is binding on them.
When you’re signing as an officer of a corporation as opposed to individually, make sure the execution of the document is very clear.
Where third party issues check to co-payees (especially where there is some indication that co-payees are willing to be paid in that fashion), a contract is probably going to be considered satisfied as to the third party where the check is delivered to one of the co-payees, even if one of the co-payees ends up embezzling the funds. The other co-payee has recourse against his or her partner, but probably not against the third party.
Generally where damage by third party to a corporation causes all shareholders to suffer similar types of damage, the action against the third party lies with the corporation. If the corporation fails to pursue the action and the shareholders think it should, the shareholders have to sue the corporation. If a shareholder somehow suffers an injury that is separate and distinct, he or she might have a direct action.
Indiana Courts are very favorable to arbitration. Mere financial inability to afford arbitration is not sufficient reason for the court to set aside arbitration clauses.
Attorney fee conversion clause was upheld where the agreement called for a contingency fee to be converted to an hourly rate if the lawyer was fired before conclusion of the case.
Proving breach of contract alone is not enough, you have to prove damage caused by the breach.
To determine whether prejudgment interest is proper, the crucial factor is whether damages are ascertainable in accordance with fixed rules of evidence and accepted standards of valuation.
Exculpatory agreements are not against public policy in Indiana. Specific references are required with respect to latent dangers. However, this is not required when the plaintiff suffers damage due to an inherent risk in participating in the activity. (Horse riding, in this particular case).
Contractual limitation of suit periods are permissible, they can be shorter than the applicable statute of limitations, so you want to look at the contract to see if you need to get to the court house in a hurry.
The date on a post-dated check is of limited significance unless the check writer has gone to his or her bank and given the bank notice not to cash the check.
Leave a Reply