Your current state is Virginia
They sold the loan agreement to a new business that bought them out and want me to sign an agreement with the new company. If I don’t sign can the new company repossess or does this void my contract because the debt was sold without my approval
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answered on Aug 7, 2023
Your approval for an assignment of your contract and note is not required. Holder of note is Holder In Due Course, and can enforce it. New contract might be easier terms, or it may be to lender's advantage. Either agree or make full payoff now. Otherwise consider bankruptcy or... View More 
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answered on Jul 7, 2023
A business trust is a legal entity that holds and manages property or assets for the benefit of beneficiaries. It is formed through a trust agreement, where a trustee holds legal title to the assets and manages them according to the terms of the trust.
When purchasing a business owned by a... View More
$36k was originally recovered but I’m still paying for that as well.
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answered on Jun 22, 2023
If you owe federal restitution, it's likely that the obligation remains even if the corporate victim was bought by another corporation. Changes in ownership or corporate restructuring usually don't affect your responsibility to repay the restitution. It's important to consult with a... View More
I recently sold my business. The asset purchase agreement signed by both parties states neither party can disclose details of the transaction for 3 years after closing. I want to share details of the business I sold (such as closing price, terms, EBITDA, brand) with a business broker. The reason... View More
answered on May 31, 2023
If the confidentiality clause in your asset purchase agreement does not contain any exceptions for professionals who have a need-to-know the confidential information, or other like language, then sharing the confidential information with your business broker is not advisable as that would be deemed... View More
I recently sold my business. The asset purchase agreement signed by both parties states neither party can disclose details of the transaction for 3 years after closing. I want to share details of the business I sold (such as closing price, terms, EBITDA, brand) with a business broker. The reason... View More
answered on May 31, 2023
It is not likely that the agreement could be interpreted to prohibit you from sharing the terms with an attorney under such circumstances; and the fact that you do so would probably be confidential in any case. Run your dilemma by an attorney with experience in such matters to determine, first, if... View More
We sold the business and we have a hard time on getting access to the accounting data for the past years, when we were in charge of the business. Please let me know our rights in this case, as accounting was done through QuickBooks online and new owners took over the existing data.
answered on Feb 8, 2023
As a general rule, there are two "concepts" to review .. one is to review the actual written agreement ... and the other is called the "origin of the right" rule, which in this case hints that each party has a "right" to information as it "originated" under... View More
We sold the business and we have a hard time on getting access to the accounting data for the past years, when we were in charge of the business. Please let me know our rights in this case, as accounting was done through QuickBooks online and new owners took over the existing data.
answered on Feb 8, 2023
I assume there was a contract prepared for the sale of the business. You should first look to the contract to see whether there is a specific carve out for pre-sale accounting information and who would be the owner or at least have access to it. Your relationship with the purchaser is contractual... View More
We sold the business and we have a hard time on getting access to the accounting data for the past years, when we were in charge of the business. Please let me know our rights in this case, as accounting was done through QuickBooks online and new owners took over the existing data.
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answered on Feb 20, 2023
In general, ownership of accounting data for a business after a sale depends on the terms of the sale agreement. If the sale agreement specifically addresses the ownership and transfer of accounting data, then the terms of the agreement will dictate who owns the data. If the sale agreement is... View More
Hi everyone, I don't have any specific geographical location in mind, so if lawyers have examples of laws that they know of, regardless of region, it'd be interesting to hear them:
Is there anything in the law to prevent litigation used by one larger company (that can handle... View More
answered on Jan 4, 2023
Generally not unless it involves the purchaser becoming so large as to violate the Sherman Anti-trust Act. The activity you describe is called corporate raiding but is usually legal when performed within the rules of a particular state.
Entity A and B teaming up to against my best interest - deferred salary and compensation, in a total over $170k.
answered on Jun 20, 2023
This is only a Q&A forum where members of the public can post legal questions and attorneys can provide legal information. To connect with an attorney to assist with a legal matter, you might try searching the directory and reaching out to someone directly. Good luck!
Our house is for rent not for sell and management knows it's for sell. What can we do when management is Sabotaging the sell
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answered on May 18, 2023
Why do you suppose management wants to sabotage your sale? Is it possible the buyer got confused about the difference between buying your unit and renting the spot in the park?
I am a partner of a large professional firm and a full-time contract paid me well with benefits. Last year I developed a disability and since have been on partial disability. Our group had a vote and decided to sell the company to another prominent organization. In my profession, 1-3 year contracts... View More
answered on Apr 9, 2023
There are quite a few factors that could potentially affect your rights. For just a few examples:
Are you an owner or an employee? How recently did the new company take over? Was the promise for equivalent pay included in a written contract between the two companies? Etc.
To be... View More
I'm a retired black market cannabis wholesale distributor Been out of the busses for years now, I'm so desperate I'm about to break bad in the information super highway online mail order marijuana distribution interstate distribution, no more than 50 pound's a shipment.
If I signed an NDA as a member of a now defunct LLC with a company for an “indefinite term.” Very general NDA to protect trade secrets, recipes, etc. If the owner of the company who I signed the NDA with passes away, and his heir takes over his rights (both business and estate), and sells the... View More
answered on Sep 20, 2022
Depending on the language of the NDA, yes. Have a free telephone consultation with counsel.
Jack
I had the deed to secure debt due to a loan with property owner
two years later due to ongoing financial help half interest in the deed was quick deeded into my name The property has foreclosed and the homeowners accosiation is vying for a portion of the excess funds and there position is... View More
answered on Feb 9, 2022
I don't follow your posting and the situation is likely too complicated for an online forum like this anyway. You should retain a local real estate attorney to advise you. And just FYI, it is called a "quit claim deed."
Because they are selling the house
answered on Jan 6, 2022
If you are uncertain of your rights, schedule a consultation with a local landlord-tenant attorney. Generally, the landlord cannot simply force a tenant to move because the landlord is selling the property. There's a specific statute by which a tenant can be forced out if there has been a... View More
DO U STILL HAVE TO GO THREW PROBATE IF U HAVE A LETTER FROM UR BROTHERS AND SISTERS SAY I CAN KEEP THE PLACE
answered on Dec 15, 2021
I am sorry for your loss on the passing of your dad, please accept my condolences for you and your family at this sad and difficult time. The answer to your question is unknown, but probably not until you pro vide more details and specifics. You will need to start by getting a copy of the current... View More
The company was sold but only the assets were acquired. Does the tax debt fall on me personally?
answered on Nov 18, 2021
Section 6829 of the Revenue and Taxation Code provides that the California Department of Tax and Fee Administration (CDTFA) may pursue collection action against certain corporate personnel for any unpaid corporate sales and use tax liability.
I hope to become a silent partner in an LLC in the state of Israel or in Great Britain, a fine art gallery. Am I allowed to do that prior to emigration? I hope to use that "work status" as the owner of a business there to obtain residency as an ex-pat. I hope to not get ripped off, to... View More
answered on Nov 16, 2021
Your post remains open for almost a week - some of the issues mentioned, such as emigration, alienage, visa, etc. could be things that an immigration attorney would have insight into. There's no guarantee that all questions are ultimately picked up, but you could try reposting with Immigration... View More
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