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Mergers & Acquisitions Questions & Answers
2 Answers | Asked in Bankruptcy, Business Law and Mergers & Acquisitions for Mississippi on
Q: What happens to business debt if I buy a company for less than the company owes?

Owner of business wants to sell company and business assets to me. Business debt is greater than asking price. Asking price takes care of owners personally guaranteed debt, and there would still be $80,000 in an outstanding EIDL loan. Would I be inheriting the debt with the company? Or should I... Read more »

W. J. Winterstein Jr.
W. J. Winterstein Jr. answered on Oct 15, 2020

I pracrice in PA, but almost all states have some version of what's also called a Bulk Sales Law, and by that law, a debtor cannot sell all, or a substantial portion, of his business assets and leave creditors hanging, so the law provides that the debt follows the assets. Even where a state... Read more »

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2 Answers | Asked in Bankruptcy, Business Law and Mergers & Acquisitions for Mississippi on
Q: What happens to business debt if I buy a company for less than the company owes?

Owner of business wants to sell company and business assets to me. Business debt is greater than asking price. Asking price takes care of owners personally guaranteed debt, and there would still be $80,000 in an outstanding EIDL loan. Would I be inheriting the debt with the company? Or should I... Read more »

David Luther Woodward
David Luther Woodward answered on Oct 15, 2020

You have proposed a knotty problem in a few sentences.

It matters if the company is a corporation, LLC, or the like

It matters if there are assets such as inventory

It matters if the debt is secured

It matters if it is an assets purchase only

It matters if...
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2 Answers | Asked in Civil Litigation, Contracts and Mergers & Acquisitions for California on
Q: Is a Contract automatically canceled that do not have a force majeure clause language in the contract?

I have a wedding scheduled for the end of this year in Los Angeles county CA. However California restrictions do not allow any indoor events. My contract do not have any Force majeure language. If the venue cannot host my event do to the COVID-19 pandemic Restrictions or if it is unreasonable To... Read more »

Maurice Mandel II
Maurice Mandel II answered on Sep 10, 2020

I know weddings can be very expensive, however, it may be difficult to find an attorney by posting a question on this site, Our TOS do not allow us to write a response that solicits you to call us. You have to find an attorney and call them. Next, there is no "automatic cancellation."... Read more »

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1 Answer | Asked in Banking, Insurance Defense and Mergers & Acquisitions for Mississippi on
Q: I have been to several rehabs and have good insurance each time that paid for it in all. Now the rehabs are sending me

Bills not ins company now I get a claim letter I mail for bankruptcy what does this mean please please help me

Tim Akpinar
Tim Akpinar answered on Aug 23, 2020

A Mississippi attorney would be able to advise best, but your question remains open for two weeks. From what you describe, it's possible that your insurance carrier became insolvent and went into receivership. This is only a guess because you mention that the billing facility mentioned... Read more »

1 Answer | Asked in Contracts, Foreclosure, Banking and Mergers & Acquisitions for South Carolina on
Q: What does GMAC, WVMF Funding, or RECAP have to do with this case?

Does it have something to do with the mortgage crash in 2008 through 2010?

Tim Akpinar
Tim Akpinar answered on Aug 14, 2020

A South Carolina attorney could best advise, but your post remains open for five weeks. It's possible something inadvertently got left off in uploading your post - a case is not mentioned. Not every question is picked up, but you could try reposting, including the name of the case. Good luck... Read more »

1 Answer | Asked in Mergers & Acquisitions and Real Estate Law for New York on
Q: Does an easement appurtenant ends when the servient estate obtains title to the Dominant estate?

Or in order for the merger doctrine to be applicable the dominant estate must obtain title to the servient estate?

John Robert Skrabanek
John Robert Skrabanek answered on Aug 2, 2020

Title is taken by an individual or entity, not the land. If the same owner takes title to both the dominant and servient estates, then the easement is extinguished through the "merger" of the estates. I hope this helps answer your question.

2 Answers | Asked in Business Formation, Business Law, Mergers & Acquisitions and Contracts for Florida on
Q: How can a minor buy shares in a private startup company?
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jul 23, 2020

Until you are 18 your are not legally able to enter into any contracts. Period. The reason is because most kids under 18 are not capable of making sound financial decisions and can avoid responsibility if any company allows them to enter into contracts. The only other option is to get someone else... Read more »

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1 Answer | Asked in Personal Injury, Appeals / Appellate Law and Mergers & Acquisitions for Nevada on
Q: Does the attorney general have to provide special council when it is evident that no attorney will represent a plaintiff

I want to sue the state of Nevada does the Attorney General have to help me represent me if I can't find an attorney that will does she have to appoint special counsel

Tim Akpinar
Tim Akpinar answered on Jun 19, 2020

A Nevada attorney could best advise here, but your post remains open for two weeks. As a general matter across the nation, the state attorneys general do represent citizens. But that role is something more in the form of advising lawmakers or enforcing laws. The office isn't thought of as an... Read more »

1 Answer | Asked in Banking, Business Law, Contracts and Mergers & Acquisitions on
Q: Commercial law

The recent collapse of some banks and financial institutions and the merger of others in ghana is proof that the financial system which consists of institutional units and markets that interact, typically in a complex manner, for the purpose of mobilizing funds for investment and providing... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jun 11, 2020

I have it on good authority that the experienced banking lawyers answering legal questions about banking and financial matters here on Justia are not interested in doing your homework; but I could be wrong.

2 Answers | Asked in Family Law and Mergers & Acquisitions for Georgia on
Q: Should my fiancé purchase a home before or after marriage with the deed only being in his name? We don’t have a prenup.

His parents want to purchase a home for him, after we get married with it only being in their sons name. I own 100% of My business, in which I had initially planned to co-own with my future husband; is successful & profitable. If he purchases a home before we get married, solely in his name,... Read more »

Regina Irene Edwards
Regina Irene Edwards answered on Jun 6, 2020

You need to speak with an attorney in detail about your situation. Any bought prior to the marriage is pre-marital property. If the house is purchased after the wedding, it is marital property, regardless of whose name it's titled in.

--Regina Edwards | www.EdwardsFamilyLaw.com |...
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4 Answers | Asked in Civil Litigation, Mergers & Acquisitions and Real Estate Law for Ohio on
Q: I co own land and need to sell my interests. The other owner doesn't want to sell or buy me out. Am I stuck?

I have a buyer. I really need the money for medical bills. The co owner wants to keep it, and wants me to remain co owner. I feel stuck. How do I sell my share of the property. It is not divided by surveys, one 36 acre piece of woods.

Anthony M. Avery
Anthony M. Avery answered on May 28, 2020

Unless you get the other Tenant In Common to buy your 1/2 Undivided Interest, you will probably need to file an Action for a Sale By Partition. Hire a competent attorney that litigates real property.

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1 Answer | Asked in Mergers & Acquisitions and Immigration Law for Kansas on
Q: Is there any legal way I can start and run my business as an F1 Student in the US?
Adan Vega
Adan Vega answered on Apr 18, 2020

Performing any activity within the United States that can be construed as unauthorized employment can jeopardize and, in fact, violate your F-1 student visa. I recommend that you exercise extreme caution in proceeding with your plans to start and operate a business venture while on the F-1 status.

3 Answers | Asked in Banking, Contracts, Mergers & Acquisitions and Tax Law for New York on
Q: Can I file my dads tax returns if he passed away last year oct? How does this process work?

He is currently married to his wife in which her and I are in very bad term due to her infidelity. How can i go about this potentially without her?

Michael David Siegel
Michael David Siegel answered on Apr 16, 2020

Whoever is the estate fiduciary can file the return. The refund, if any, goes to the estate. The first $50,000 of any estate (unless there is a will) goes to the spouse. Thus, you need to determine if there is anything in it for you, if an estate is worth commencing, and if a return should be... Read more »

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Q: Can my business partner use the companies attorney in a partnership dispute? The fees are paid by company.

Am I entitled to know discussion since it was paid for by company funds.

Gregory Byrnes
Gregory Byrnes answered on Apr 9, 2020

Typically no because that is a conflict of interest for the attorney. The company is the client, not the shareholder and representation of the shareholder individually is usually a conflict. Additionally, if the company is paying for the personal expenses (their personal legal fees) of the... Read more »

1 Answer | Asked in Mergers & Acquisitions on
Q: 5.8 years in the reserves, 3.5 active duty how many service stripes should I be wearing?

Close to my 9 year mark my Platoon Sergeant claims I should only have one Service Stripe as I’m about to put my third one on. Please help.

Tim Akpinar
Tim Akpinar answered on Apr 3, 2020

You should post this question in the Military Law section. Good luck

Tim Akpinar

1 Answer | Asked in Business Law and Mergers & Acquisitions for South Carolina on
Q: Would my side business be a conflict of interest with my employer?

My employer makes money through business partnerships and monetizing articles. I want to start a side business using the same monetization methods, but my business would serve a different industry (Ex. - Employer serves the real estate sector- My business would serve the the fashion & beauty... Read more »

Tim Akpinar
Tim Akpinar answered on Feb 18, 2020

Your question might not easily lend itself to a simple "yes" or "no" answer. It's possible two different attorneys could argue two different sides of the coin here, where one points out that your areas of concentration are different. Another could say that the basic pursuit... Read more »

1 Answer | Asked in Business Formation and Mergers & Acquisitions for New York on
Q: Created an S-corp last year in NYS when I should have created a professional corporation. Can I acquire the original?

Last year I created an S-corp in NY after the suggestion for tax purposes by an accountant. What I didn't realize was that I needed to be a professional corporation first, and then elect S-corp status because I am a licensed therapist. I have income, bank/credit accounts, and a loan under the... Read more »

Michael David Siegel
Michael David Siegel answered on Jan 31, 2020

I would just start over. I am not sure what you would be merging. What assets are you talking about?

1 Answer | Asked in Mergers & Acquisitions and Traffic Tickets for South Carolina on
Q: If the officer doesn't work for that jurisdiction anymore that wrote the ticket what happens
Ryan D Templeton
Ryan D Templeton answered on Jan 13, 2020

The officer can return to prosecute the tickets but many times the tickets get dismissed.

1 Answer | Asked in Employment Law and Mergers & Acquisitions for Florida on
Q: What rights do I have as an employee at a franchise that corporate is soon buying back?

I am an employee at a franchise my boss owns. There is talk that corporate is buying back the franchise to do with it what they want since my boss who owns the franchise is defaulting on loans. I am worried for my job if this happens, do I have any rights?

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jan 10, 2020

Unless you have a written employment agreement you are at risk of losing your job. On the other hand, if you are a great employee the new owner might keep you on.

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