Law Stuff

At the Charleston Contractor's Association Meeting this past Monday night I learned something new. It was about a law. Specifically statute SC 27-1-15. It was a way to collect money from some someone that hasn't paid yet, for whatever reason. The law is very simple. If you would like to see the law, you can click the link.

http://www.scstatehouse.net/code/t27c001.htm

As I understand it, and I am not a lawyer, it says that you can send a letter for payment and reference the statute. The other company or person has 45 days to research the invoice for payment and if it is not in dispute, then they have 45 days to pay. If they cannot or do not pay, then you may be able to get attorneys fees. I also understand that if you win the case then you may be able to get post judgement interest as opposed to prejudgement interest. However, I will say that if you want to know more about it, do not trust me, trust the attorney that will represent you. They actually know the law and how to go about the legal issues that arise

If you would like to know more about the Charleston Contractor's Association, then click the link.

http://www.charlestoncontractors.org/