Business Law

Ask a Business Lawyer. Get Business Law Questions Answered ASAP.

Ask a Lawyer,
Get an Answer ASAP!

Business Law

In October 2011, I was asked by the man whose guest house I

Customer Question
lived in to hero his...
In October 2011, I was asked by the man whose guest house I lived in to hero his daughter empty his storage unit. He had half of a long, random storage room in an apt building in Los Angeles, filled with the contents of a law library, a few decades of
clients legal files, some odds and ends, and about 60 identical boxes lining one of the walls. No one had been in the unit in about 7 years, and as it turned out, we weren't there to move things as much as decide what was to be done with everything. After
some deliberation it was decided that ask the client files were to be shredded, and the rest was going to landfill. Since that was the case, I decided to look around and in the boxes to see what was being discarded. Turns out they were filled with something
called a Stylophone 350S. It took me a second to figure out it was a synthesizer, but what staggered me was how pristine it was. It was like 4 decades hadn't happened. I brought one home determined that they would be sold to hipsters as retro, and did a Google
search. That was when I discovered that fewer than 3000 of them were ever made and someone was selling them for $400, though he had none in stock. I quick did the math and went down to the house and told them that we weren't throwing them away because it appeared
they had about $150,000 worth of inventory there. Everyone was excited because they'd tried to sell them to junk dealers on three separate occasions, the last being in 2003, but no one wanted them. But since that time the original company had been refounded
by the inventors son, and new products had been released. The man's wife who was running the household (he was ill and passed a few months after), told me she would split whatever I could get for them with me 50-50.We moved them all to be stored at the house,
and I went to work. Some I sold on eBay to see what they would go for, and I selected the most one went for ($550) as the "retail" price for a single unit. I continued to sell them on eBay for various prices, as well as constructed a web site to tell the story
and engaged in various social media promotions over the next few years. I wanted to sell all of them to a dealer, but I also knew that since so few of them had sold in the recent era or on eBay, that the longer I kept the price established at $550 each, the
more I would cement the current value of them online and in with the public, so I wasn't in a huge hurry. Her son also took a few cases of them for his friends or had me ship them out for him. Two years later, there was a flood in the main house, and several
of the units were damaged. I knew and expected that there would eventually be a settlement by insurance for the damanged units, and counted my half of that towards other money I owed her. A year later the house was in the process of being sold, and the personal
property claim was being settled. I went through all of the units to determine which were damaged and the adjustor brought in a subcontractor to determine which were broken. I collected about 120 which appeared damaged in any way but they determined 67 were
damaged, Since I was about to lose storage for the rest of them, I became more proactive about selling them, and found a delaler in the area who sold vintage music equipment who was quite enthusiastc about selling them on consignment, and we discussed a large
Christmas time push (it was now July) which he deterrmined he could easily sell them for $250 each, and felt he could sell at least a hundred of them with his social media presence that season. I returned home with the news to discover that all of them were
gone. All of them. I asked them where, and was told that the contractor came to pick up the rest of them. This utterly baffled me, but I just accepted that the owner's son had made some foolish decision. I helped them establish the average selling price for
each of them with insurance ($345) and since we were moving, produced a spreadsheet detailing sales and expenses, as well as other money I owed them, with the model that half of the insurance money for them would go to me. After I moved no one would tell me
where they were. Xmas retail season 2014 came and went. Last October the son called and asked me to lie to the insurance investigator and say that I had never been engaged in trying to sell them, but had just been given a few and sold them on my own. I never
spoke to the Investigator. To date, I have no answer where the inventory is, and clearly am out a substantial amount of money, which I now presume was made by the son. Do I have a reasonable claim to the inventory or its value at the time? I feel as if they
made money off of the value I helped create for them, since they were to discard all of them, and I was promoting them for years online. Is it likely I could get someonoe to take the case on contigency? The owner and her son have substantial resources.
Submitted: 2 years ago.Category: Business Law
Show More
Show Less
Ask Your Own Business Law Question
Answered in 9 hours by:
7/20/2015
Business Lawyer: CalAttorney2, Attorney replied 2 years ago
CalAttorney2
CalAttorney2, Attorney
Category: Business Law
Satisfied Customers: 10,244
Experience: I am a businesses law attorney, with experience advising and representing owners and investors.
Verified
Dear Customer,Your best option here is to sue the owner in small claims court for breach of oral contract. (Be careful, the statute of limitations is 2 years from the date of the breach for oral contract). You can sue for up to $10,000.00 in small claims court without an attorney. The California Courts have information and resources (including forms) to assist you here: http://www.courts.ca.gov/selfhelp-smallclaims.htmShort of filing a lawsuit, you can try to mediate the dispute with them - contact your local bar association and request referrals to mediators, a third party neutral can often help you reach a mutually agreeable resolution. Use the bar association's referrals to contact a mediator or two, the mediator will then contact the other party to set up a mediation session, and you can go from there - hopefully resulting in a formal or written settlement agreement, and save yourself the time and expense of litigation.
Ask Your Own Business Law Question
Customer reply replied 2 years ago
Small claims court is actually a pretty decent idea. At the end of the day, I couldn't reasonably expect too much more after expenses, and the hassle involved in a prolonged ordeal wouldn't be with the toll. I also haven't really wanted to sue her because it's probably her son that was pulling the strings in the whole ordeal, and it's unfortunate after living with her for so long and liking her as much as I do, that I would have to sue her, so I'll also look into mediation. Thanks. :-)
Business Lawyer: CalAttorney2, Attorney replied 2 years ago
You are welcome, and I do wish you the best with this matter.Thank you for using our forum, and please do not forget to rate my service so that I can receive credit for assisting you.Thank you again, and again I wish you the best.Bill
Ask Your Own Business Law Question
Ask CalAttorney2 Your Own Question
CalAttorney2
CalAttorney2
CalAttorney2, Attorney
Category: Business Law
Satisfied Customers: 10,244
10,244 Satisfied Customers
Experience: I am a businesses law attorney, with experience advising and representing owners and investors.

CalAttorney2 is online now

A new question is answered every 9 seconds

How JustAnswer works:

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

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

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.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, 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!!

ElaineAtlanta, 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.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Attorney

1,793 satisfied customers

Experienced lawyer

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

1,611 satisfied customers

Run my own successful business/contract law practice.

MShore Law

MShore Law

Attorney

1,233 satisfied customers

Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

Attorney

742 satisfied customers

Licensed Texas General Practice Attorney

Barrister

Barrister

Attorney

640 satisfied customers

17 years practicing attorney, JD, BA, MBA

Ely

Ely

Attorney

564 satisfied customers

Counselor at Law.

J.Hazelbaker

J.Hazelbaker

Attorney

393 satisfied customers

Experienced and trained in the area of business law.

< Previous | Next >

Related Business Law Questions
I need a simple contract to define a business relationship
I need a simple contract to define a business relationship between a consultant and our company. Essentialy the consultant is willing to work for a % of ownership in lieu of payment. I need a contract… read more
NYLAWLADY
NYLAWLADY
attorney solo practice nyc
Doctoral Degree
685 satisfied customers
An independent contract never billed me for services
an independent contract never billed me for services rendered. now 8 years after the fact she is demanding payment is there a statue of limitations in florida also i have no way of checking as account… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,793 satisfied customers
A settlement has been reached between the parties. The party
a settlement has been reached between the parties. The party to whom the payment was to be made, did not submit W9 info for some time, thinking it was not necessary. For how long after reaching the se… read more
RGMacEsq
RGMacEsq
Attorney
Doctoral Degree
742 satisfied customers
This in continuation to the lawsuit of breach of contract.
Hi, this in continuation to the lawsuit of breach of contract. There is no contract and they have answered our motion to dismiss the claims and indicated that our statue of frauds reason on our dismis… read more
Brandon M.
Brandon M.
Attorney at Law
Juris Doctorate
12,463 satisfied customers
Regarding terminating a business contract with a billing
Regarding terminating a business contract with a billing company that processes our billing. Both I and my partner signed contract as required by our Operating Agreement for the business . The billing… read more
LegalGems
LegalGems
Juris Doctorate
10,144 satisfied customers
I graduated from Law school I took the bar exam in Florida,
I graduated from Law school I took the bar exam in Florida, but I have not yet pass the bar exam. Florida has completed the character and fitness investigation, and already issued me the notice of com… read more
Ray
Ray
Lawyer
Doctoral Degree
30,175 satisfied customers
I have a bar in New Rochelle and I'm interested in getting a
I have a bar in New Rochelle and I'm interested in getting a hookah license … read more
Damien Bosco
Damien Bosco
2,971 satisfied customers
DOES THE FACT THAT A FLORIDA SETTLEMENT AGREEMENT WHICH
DOES THE FACT THAT A FLORIDA SETTLEMENT AGREEMENT WHICH LACKS A WAIVER OF CALIFORNIA CIVIL CODE § 1542 INVALIDATE THE RELEASE WITH THE CALIFORNIA PARTY IN A FLORIDA STATE COURT PROCEEDING?… read more
Ray
Ray
Lawyer
Doctoral Degree
30,175 satisfied customers
Question about business/contract law breach of contract and
question about business/contract law breach of contract and file a complaint I like to consult with an attorney preferably from ILLINOIS… read more
Damien Bosco
Damien Bosco
2,971 satisfied customers
I am a 20% owner in an s-corp (a small restaurant/bar in
Hi I am a 20% owner in an s-corp (a small restaurant/bar in NYC) and plan to resign as shareholder, officer. What paper work do I need to file? I also need to submit paperwork to remove my name from t… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
879 satisfied customers
Contract I'm being contracted by a divorce attorney to
ContractI'm being contracted by a divorce attorney to provide accounting work in a case. Do you have samples of contracts that I can use to send to the attorney? It is mainly to protect any emails or … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
5,818 satisfied customers
In a divorce settlement, the my former wife kept the house
In a divorce settlement, the my former wife kept the house and I remained on the deed in order to secure the mortgage. If the house ever sold, part of the agreement was that 20% of the sales proceeds … read more
Ely
Ely
Attorney
Juris Doctor
564 satisfied customers
I have a default judgement on a settlement agreement that
i have a default judgement on a settlement agreement that was 50% paid. In a separate case for the same debt he is sewing my girlfriend for fraudulent conveyance. My question is if i pay him on the de… read more
Thelawman2
Thelawman2
Doctoral Degree
1,240 satisfied customers
In 2008 i entered into a settlement agreement for 225k. I
in 2008 i entered into a settlement agreement for 225k. I managed to pay 110k and a default was entered against me. in the renewal of judgment he states that he go 1300 bucks in connection withe the j… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,793 satisfied customers
Second opinion] I just received as plaintiff a Settlement
Second opinion] I just received as plaintiff a Settlement and Release agreement from a company, a Bank in PA, to sign for a substantial amount of money to be rewarded to me. The case was Complaint, co… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
5,818 satisfied customers
I just received as plaintiff a Settlement and Release
I just received as plaintiff a Settlement and Release agreement from a company, a Bank in PA, to sign for a substantial amount of money to be rewarded to me. The case was Complaint, contract other unf… read more
RGMacEsq
RGMacEsq
Attorney
Doctoral Degree
742 satisfied customers
I am an accountant for a c corp, it is a restaurant/bar with
I am an accountant for a c corp, it is a restaurant/bar with an illinois liquor license. He want to open another bar and not use the full name of the corp. Can he do a D/B/A under the corp. Does he th… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,793 satisfied customers
I sold my business (bar) to a person I have a contract. He
I sold my business (bar) to a person I have a contract. He took over the first of DE em … read more
LegalGems
LegalGems
Juris Doctorate
10,144 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x