North Carolina Clauses Relating to Termination and Liquidation of Venture
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FAQ
A liquidated damages provision is enforceable under North Carolina law when: 1. damages are speculative or difficult to ascertain, and 2. the amount stipulated is a reasonable estimate of probable damages, OR the amount stipulated is reasonably proportionate to the damages actually caused by the breach.
(e) If action is taken without a meeting by fewer than all shareholders entitled to vote on the action, the corporation shall give written notice to all shareholders who have not consented to the action and who, if the action had been taken at a meeting, would have been entitled to notice of the meeting with the same ...
The employer must give written notice of termination of employment in ance with the notice period provided for by law to the worker who is being terminated. If they do not give notice or do not give sufficient notice, the worker is entitled to an indemnity, that is, monetary compensation.
North Carolina requires that final paychecks be paid on the next scheduled payday, regardless of whether the employee quit or was terminated.
Action without meeting. (a) Unless the articles of incorporation or bylaws provide otherwise, action required or permitted by this Chapter to be taken at a board of directors' meeting may be taken without a meeting if the action is taken by all members of the board.
North Carolina is an at-will-employment state, which means that an employer may end the employment relationship at any time and for any reason as long as it is not an otherwise unlawful reason. Kurtzman v. Applied Analytical Indus., Inc., 347 N.C. 329, 331, 493 S.E.2d 420, 423 (1997).
You have a right to work in an environment free of harassment based on race, color, religion, sex (including pregnancy), national origin, disability, or age (age 40 or older). You have a right to complain about treatment that you believe is illegal job discrimination.
Usually, illegal reasons include termination decisions that involve the employee's race, sex, disability, pregnancy, age, national origin, or religion. Employees who utilize the protections of the Family and Medical Leave Act (FMLA) are victims of wrongful termination.