PHAM & CLOVES, PLLC

Have you had your credit card available balance lowered lately?

A common practice among credit card companies these days is slashing available credit limits to either close to the outstanding balance or even lower! Currently, there is no law that prohibits this action. Legislation addressing this issue is not scheduled to arrive in force until 2010. [...]

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THE DISCOVERY PROCESS IN LITIGATION AND WHY DO WE NEED IT?

What is “Discovery” and Why Do We Need It?

 
If you have been a party to litigation, you may recall the term “Discovery.” In most lawsuits, there is a phase called “Discovery.” The discovery process involves an exchange of information between the litigants. There are entire sections [...]

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Arbitration Clauses
 
An arbitration clause is a section in a contract that governs how the parties to the contract will resolve disputes that arise as a result of performance, or lack thereof, of the contract. Arbitration clauses oftentimes are very broad in scope (cover any possible issue related to the contract), but can be narrowly tailored [...]

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Last week, the Attorney General’s office announced that it is filing charges against Bernard Madoff for security fraud in a ponzi scheme.  Like many investment firms that have gone bad, Mr. Madoff may have had good intention when he started the investment portfolio that have devastated many individuals and investment firms, and shocked the general [...]

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