I am a partner in a small business (well, medium sized, we
I am a partner in a small business (well, medium sized, we have revenue of about $4.5M). We have a line of credit we use to run out expenses (primarily payroll as we're a consulting type of company), and a term loan. Our collateral is our Accounts Receivable/business assets. However I (along with two other partners) also sign a personal guarantee. I also have one smaller ($35k) personal unsecured loan. My question is, if for some reason things went terribly wrong, and the bank or creditors came after my assets, would accounts in my wife's name be vulnerable? Such as her 401k, the 529 for our child, or her personal savings account, held in her name only.
Was just checking to see if a default on an agreed to
Was just checking to see if a default on an agreed to contract to sell a business was deductible. He got the business and did not pay me the amount of the original contract. He did pay me what he could and I am ok with that. But would like to have the loss if possible as I have a large capital gain this year.JA: Has anything been officially filed? If so, what?Customer: It appears neither the original contract nor the collateral pledge agreement were filed.JA: Anything else you want the lawyer to know before I connect you?Customer: I did agree to an amendment to reduce the payments which also was not adhered to. It was an insurance agency and he ended up assigning his renewals which ran out this year. Altogether I estimate I received $97000 from an original $305000 contract.
I need to know the value (legal) of a blank endorsement of
I need to know the value (legal) of a blank endorsement of an assignment of a promissory note, and any and all documents necessary for the transfer of a cooperative loan from one institution to another.I believe the current loan servicer has provided me with a questionable assignment of shares, loan, and collateral documents which seem to have the initial holder of the collateral etc with no name on the assignee portion. There have been several servicing organizations between this current one and there is no document supporting such transfer from any of them that seems to be clear either. Furthermore the UCC filings do not match the assigment of collateral documents provided by the current loan servicing organization.
I have a girl whom I was talking to since the last month and
I have a girl whom I was talking to since the last month and over the course she has agreed and narrowed over 20,000 I've got her possibly to agree to a IOU agreement to pay me back notarized and signed by both Parties Me and her. She won't sign one with collateral, my real question is if she fails to make payments and defualts the agreement will it hold up in court?
In the state of PA. Borrowing money and using my some of
In the state of PA.Borrowing money and using my some of household item and my boat for collateral. Its a private party and they want to do a UCC filing.In this filing, there is only so much room to add items. They want to add stuff like my household goods and ect if in case I default on the loan. How does one right this up.
I was wondering what how I mightvgo about countersuing a
I was wondering what how I mightvgo about countersuing a plantiff.The company that I work for are being sued for breach of non compete.The company has been served a month ago.My lawyer has been in contact with thier lawyer asking for the 2002 copy of the non compete that we believe is forged.They refuse to give us the document for Forensic Handwriting analysis.We are sure that it is because it is forged.I was just served last week.I am hoping to not use an attorney because it is so expensive. Should I countersuit them for frivolous lawsuit and ask for punitive damages or just frivolous lawsuit and later sue them for punitive damages?