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Thomas McJD
Thomas McJD, Attorney
Category: Legal
Satisfied Customers: 6516
Experience:  Legal Expert
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TO: XXXXX XXXXX I used your service in the past under

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TO: XXXXX XXXXX

I used your service in the past under the e-mail [email protected] which is no longer in service. Now you need to use [email protected]
My Question: After running a successful retail home building packages business for 26 years I had to sell due to the current economic conditions and sell what assets were left to a contractor that I worked with for many years 3/1/11. The business was legally closed thereafter.(not bankruptcy).
I had one customer whose job was held up for several years due to an easement problem has now finally built his home via the contractor I sold to and now wants some of his material deposit dollars back.
Originally his deposit paid for plans, engineering and material deposits. He now wants me personally to repay him the difference of the amount paid minus cost incurred (aprox. $19,785). I have no personal guarantee in this contract with my previous company so I believe I owe nothing. What is my potential exposure?
Ken Matthews [email protected]

TMcJD :

Hi, I will be happy to assist you, and it is my goal to make you a very satisfied customer! This may take a few minutes, so thanks for your patience.

TMcJD :

Did you operate your business as a corporation, sole proprietorship, LLC, or some other type of entity?

Customer:

Corp

TMcJD :

So, did you sell the corporation or the assets of the corporation?

Customer:

Assets only

TMcJD :

Okay, then did you formally dissolve the corporation according to Colorado state law?

Customer:

yes

TMcJD :

Okay, then you have no personal liability. This former customer's business and contracts were with the corporation. Anything owed to him by the corporation is not your personal liability, it was a corporate liability and proper dissolution would have taken care of those types of potential liabilities.

Customer:

What do you mean by proper dissolution?

TMcJD :

Just that you followed the state statutory requirements in dissolving the corporation and winding up its business.

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