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he still has the business. the cotract states that if he defaults he has to surrender the business back to me. can he still file bankruptcy and keep the business. he has less than to weeks to appear in court. i dont think he could file bankruptcy that fast
so selling anything on contract is never a good idea. why didnt my lawyer inform me of this when he drew up the contract?
the business went with about 8 thou dollars worth of equipment. could he be ordered to surrender that? i'd be happy if i ghet that back. and would him filing BK keep him from haveing to surrender the equipment too?
thanks a bunch. to be honest with you i dont think he knows he could file BK so i stand a good chance anyway.
cheers XXXXX XXXXX
follow up question. i sued in small claims court and won. (other party didnt show) but even though the contract shows that the other party is to turn the business back over to me, the judge said he could only award financial compensation only. so he awarded me 6900 dollars. i sent registered letter to the other party and it has been past 30 days since he signed to show he recieved the letter. i am assuming he has not filed an appeal (through mutual freinds) i have heard he hasnt even considered BK. so whats my next step. i dont see how i can get this money out of him any easier than before i sued him???
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awsome thanks again. you have been more than helpful. take care
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