How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Joseph Your Own Question

Joseph
Joseph, Lawyer
Category: Legal
Satisfied Customers: 4968
Experience:  Attorney with significant and substantial experience in multiple areas of law.
54899578
Type Your Legal Question Here...
Joseph is online now
A new question is answered every 9 seconds

my friend purchased inventory and supplies for a troubled restaurant

Resolved Question:

my friend purchased inventory and supplies for a troubled restaurant with verbal understanding get restaurant back to where it can pay its own bills then repay the money. Nothing in writing. Restaurant is now operating without outside monies. My friend asked me to negotiate getting the restaurant to repay him. Further complicates things, a parttime worker bought 25% ownership for $15,000 in 2010 and sold his ownership to my friend. No one has been paid any money for the ownership. When trying to get the owner, who this year registered the business as a sole proprietorship, to commit to repayment; his response was I know I owe him but he will have to stop whinning about it and wait cause I have too much on my mind. If he wants to take me to court, there is nothing for him to get. Later, I succeeded in getting him to agree to paying a lessor amount. 3 days later when I was ready to put it in writing he changed his mind and said my friend must first sell back the 25% ownership to the original owner for what he paid for it. HELP in North Carolina
Submitted: 10 months ago.
Category: Legal
Expert:  Joseph replied 10 months ago.
Hello,

My name isXXXXX am a licensed attorney, and my goal is to provide you with excellent service today.

I need a bit more information from you before I can proceed to provide you with a complete and thorough answer to your question.

Can you tell me what question you have regarding your situation?
Customer: replied 10 months ago.

What are my friends legal rights considering nothing is in writing and who owns the 25% that he bought from the original investor. The document the investor signed with the signature of the restaurant owner does no say that it couldn't be sold. It just says 25% ownership for $15,000.

Expert:  Joseph replied 10 months ago.
Hello Annie,

Thanks for the additional information. I'll look into this and get back to you shortly.
Expert:  Joseph replied 10 months ago.
Can you tell me how much your friend loaned the restaurant initially?
Customer: replied 10 months ago.

my friend has loaned $17,000 that he can document with checks and credit card statements. Additional money paid out in cash with only my friends record. The $17,000 has been paid out thru June of this year. I just called my friend. He said the first money was $990 in December 2011 for rent.

Expert:  Joseph replied 10 months ago.
Hello Annie,

Your friend needs to file suit immediately for the amount that is owed on the loan, as North Carolina only has a three year statute of limitations for contracts. If it is beyond that time, then your friend would be barred by the statute of limitations from bringing an action against the restaurant and it’s primary owner.

Your friend can also sue for the enforcement of the ownership interest, or to receive the monetary value of that ownership interest (at least $15,000). I would suggest that your friend bring both of these causes of action together against the restaurant.

Since this amount (as well as the loan) are well above the limit for small claims court in North Carolina, your friend should consult with an attorney immediately about filing suit based on breach of an oral contract and breach of contract for the ownership interest.

Unfortunately, JustAnswer experts cannot provide you with specific recommendations for attorneys. However, I can give you a few sites that you can consult to find an attorney.
These are:

www.lawyers.com

www.avvo.com

www.martindale.com

I hope the above information is helpful.

Please let me know if you have any clarifying or follow up questions as I want to ensure that you are completely satisfied with my service. Please contact me first if you are contemplating leaving me a negative rating, as I’ll be happy to continue to address your concerns until you are completely satisfied with my service.

If not, please remember to rate my answer positively so I get credit for my work. (It doesn’t cost you anything extra and is necessary even though you’ve made a deposit). Please also rate me highly (9-10) when you receive your customer satisfaction survey as well.

Thanks and best of luck!

-Joseph


Joseph, Lawyer
Category: Legal
Satisfied Customers: 4968
Experience: Attorney with significant and substantial experience in multiple areas of law.
Joseph and 15 other Legal Specialists are ready to help you
Customer: replied 10 months ago.

thanks so much for your help. This is the guidance I needed.

Expert:  Joseph replied 10 months ago.
Thank you Annie! Happy to help and best of luck!

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it. Lee Michigan
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    19941
    Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    8189
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/jespoag/2008-12-17_222355_jessepic.jpg JPEsq's Avatar

    JPEsq

    Attorney

    Satisfied Customers:

    2132
    Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor
  • http://ww2.justanswer.com/uploads/gsenmartin/2008-04-22_214950_me1.jpg Guillermo J. Senmartin, Esq.'s Avatar

    Guillermo J. Senmartin, Esq.

    Attorney

    Satisfied Customers:

    110
    7+ years of experience handling various legal matters.
  • http://ww2.justanswer.com/uploads/PA/PaulmoJD/2013-10-10_195858_JAImage.64x64.jpg Law Educator, Esq.'s Avatar

    Law Educator, Esq.

    Attorney

    Satisfied Customers:

    31621
    JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    15975
    Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.