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Loren, Attorney
Category: Business Law
Satisfied Customers: 34100
Experience:  30 years experience representing clients .
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Good Morning, Ive added a tip from yesterdays question.

This answer was rated:

Good Morning,
I've added a tip from yesterday's question. Sorry for the wait. I was waiting for a deposit to clear. A follow up on that question... I just want to be sure I can name all three parties in the civil action so I didn't know if a derivative suit would allow for that.
For today's question, I wanted to upload the agreement I spoke of with you before. The one you said sounded unenforceable, illegal, and could be construed as extortion. I really would like you to see it as I get all different responses to it. I realized this may take a bit more time to read over and I will make sure to remember this and can at least double my normal tip.
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

Do upload it using the toolbar for attachments.

Please realize that I am under certain constraints and can not cross over the line from legal information to legal representation and we are getting very close to skirting that line. However, go ahead and upload the agreement and I will give my general impressions.

Best regards.

Customer: replied 4 years ago.

Attachment: 2013-04-02_140439_teague_-_signed_agreement.pdf

Thank you. I certainly do not want to cross any lines and they are hard for me to see.

Thank you for your understanding. I await the posting of the agreement.

Also, please be aware that whatever you post to me will be generally viewable and is not confidential. So, keep that in mind with whatever you decide to post.

Thanks again.

Customer: replied 4 years ago.
Yes thank YOU ... I hop you received the doc ok
I will take a look and get back to you.
I looked over the agreement. What claim was specifically being released in the Release you signed?

Customer: replied 4 years ago.
My understanding is that we agreed to not prosecute him for anything from the time of his birth up until the date of the agreement. I can upload a timeline of events and breaches that we're aware of from the time the corporation was formed. I'm certain there's a lot we have not yet discovered.
The release is legal. It is supported by consideration and signed by all required parties.

I thought you were referring to a provision in the bylaws or some other agreement in which he had immunity. The release, though, is a separate thing entirely.

I think you will need to concentrate on the director's physical and mental incapacity because I do not see a problem with the release, unless there was some sort of fraud involved.

Customer: replied 4 years ago.
I may not completely understand what constitutes fraud. We were shareholders for 14-20 years without disclosure. Over 4 million in property was sold without our knowledge. Almost 1 million in distributions made to only the director.
You may be able to defeat the release if you were not aware of the claims to which you were entitled or if you did not have access to company books or the claims were misrepresented. If you had legal representation then there may be an action for malpractice available to you.

Customer: replied 4 years ago.
Thank you. I can't pursue malpractice against my counsel even though I feel now he was in over his head and we did not get the protection moving forward that was our main goal. He was a friend trying to help I know no good deed goes unpunished that's evident in choices I've made but I can't do that to him.

I'm hoping that the events since the agreement in 2007 will be sufficient to affect changes that will turn this situation around.

Thank you so very much for the information.
You are very welcome. Let me know if you need more help. I will be here.

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