North Carolina General Statutes 44A-28. Actions on payment bonds; venue and limitations
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(a) Every action on a payment bond as provided in N.C. Gen. Stat. § 44A-27 shall be brought in a court of appropriate jurisdiction in a county where the construction contract or any part thereof is to be or has been performed.
(b) No action on a payment bond shall be commenced after the expiration of the longer period of one year from the day on which the? last of the labor was performed or material was furnished by the claimant, or one year from the day on which final settlement was made with the contractor. (1973, c. 1194, s. 1.)
Terms Used In North Carolina General Statutes 44A-28
- Contract: A legal written agreement that becomes binding when signed.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.