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 Kim Courtney Your Own Question
Kim Courtney
Kim Courtney,
Category: Legal
Satisfied Customers: 4219
Experience:  Founder/Member at Food Business Association
Type Your Legal Question Here...
Kim Courtney is online now
A new question is answered every 9 seconds

MY Spouse owns 20% interest in a LLC. The board members have

Customer Question

MY Spouse owns 20% interest in a LLC. The board members have engaged in Usury lending practices. They loaned the company millions of dollars and charged 30% interest. (in Florida) . They were self benefitting, thus self dealing .
MY wife signed a hold harmless agreement with them regarding a settled non compete issue. At the times she signed the hold harmless agreement she was unaware of the slef dealing/usury/neglect of fiduciary responsibility issues.
In a case where a criminal law was broken(usury lending) , can a Hold harmless agreement be set aside for such a lawsuit?
Submitted: 1 year ago.
Category: Legal
Expert:  Kim Courtney replied 1 year ago.

Hello, I am happy to assist you today.

I hold harmless agreement would have no impact on a criminal matter, so it would not protect her if there were any criminal matters brought forth. However, if she was not personally involved in the criminal activity, then she should not be held criminally responsible.


Customer: replied 1 year ago.
Kim, my communications was incorrect.MY Wife owns 20% of the company, but the" board members" charged the company 30% interest on a loan , and she had signed a hold Harmless agreement with them from a non compete separation of employment matter. Can she sue them for their usury lending practices, self dealing or will her signed hold harmless agreement inhibit her chances for success(in Florida)
Expert:  Kim Courtney replied 1 year ago.

Well based on the info you have provided me, it sounds like the agreement relates to employment. In that case, it would not bar her from suing them for their self dealing, etc. I also think that even if the agreement would apply to more than employment issues, she could argue the behavior is criminal so isn't covered by the agreement.