Michael Hales' answer This is kind of a tough one because it really depends on the scope of the project. I imagine that advertising, registration, and consumer laws will all come into play. I'd recommend discussing this with an attorney to get a detailed answer.
Michael Hales' answer The prior owners will be responsible, but the new ones may be as well depending on the sales agreement when they purchased the business. You may want to talk to an attorney who can review all the facts of your situation.
Michael Hales' answer It will effect you if you buy the business along with its current obligations. For this reason, it's important to structure the sale so that it protects you against claims directed at the former owner.
Michael Hales' answer My suspicion is that the company wrote your debt off when it sold it to the collection company. However, I'd recommend having an attorney review the situation for you to give a more definitive answer.
Michael Hales' answer My understanding is that they can. The company wrote off the debt when they sold your account to the collection company. I'd recommend reviewing the whole situation with an attorney.
Michael Hales' answer I had a very similar case in Orlando a few years back. The parties were planning a joint venture, but it never went through. Unfortunately, my client made some verbal promises that the other party relied on and started moving forward as if they agreement had been made. My client didn't stop him even though he knew this was going on. Keep in mind that verbal contracts will be enforced if there is evidence (like some action being taken by the other party) that an agreement was made. This case...
Michael Hales' answer I would speak with an attorney as soon as possible because the solution will be very specific to your situation. In general, the landlord may be able to utilize company assets to collect on unpaid rent. Bankruptcy may be an option, but depending on which chapter you file, if the value of the assets exceeds the debts, the landlord will get it anyway. You could try to restructure to the debt, but this may be done outside of bankruptcy court through negotiation. Like I said, I'd recommend having...
Michael Hales' answer This is a great question and one I am addressing in my business law class right now. Although about 60% of businesses in Idaho operate as sole proprietorships, there can be a great benefit in operating as an entity. The primary reason tends to be that you can limit some liabilities if you operate under some business entity form. The preferred entity among most Idaho attorneys is the limited liability company (LLC) because it can protect personal assets, although these protections are somewhat...
Glenn B. Manishin's answer That depends entirely on the terms of your LLC "operating agreement," but those corporate formation documents (and LLC laws generally) typically shield members and owners of an LLC from all personal liability.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer...
Adam Studnicki's answer If you were served papers, you should make sure and hire a lawyer to respond before a default judgment is entered against you. Whether or not you are right or will win, you have to respond promptly.
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