Section 6-21.5 of the North Carolina General Statutes is the closest thing the State has to "loser pays." It allows for the award of attorneys’ fees to a prevailing party "if the court finds that there was a complete absence of a justiciable issue of either law or fact raised by the losing
Parol Evidence Rule Barred Defendants’ Interpretation Of Earn-Out Provision
Premier, Inc. v. Peterson, 2012 NCBC 59, decided last Friday by Judge Murphy, turned on a strict application of the parol evidence rule.
At issue was whether the defendants were entitled to a substantial earn-out payment under a Stock Purchase Agreement. The Plaintiff had purchased the Defendants’ software business of selling a Web-based surveillance
The Court Of Appeals Clarifies What It Means To Be A “Prevailing Party” Entitled To Attorneys’ Fees
The NC Court of Appeals ruled today on what it means to be a "prevailing party" under N.C. Gen. Stat. §6-21.5 so as to be entitled to recover attorneys’ fees. There was no North Carolina precedent — until now — on this issue.
The effect of the ruling may be that fees under the statute