Ask a Lawyer - Business Law questions answered by leading lawyers |
| Is One Spouse Liable for the Other Spouse's Guaranty? |
My spouse signed a promissory note and commercial guarantee for his business with his partners without my knowledge. The business in now going to go bankrupt. My understanding is that they can put a lien on our house. Can I have him quitclaim the house to me so they cannot put a lien on the house? Is it legal since I never signed anything and had no knowledge of the lien? |
| What to Do with a Customer's Abandoned Property? |
We are a small business that builds boat docks and installs cradles for individuals on a lake. One of our customers left their property here for over a year and never answered our emails about coming to pick the cradle up. We needed our space so after 18 months we got rid of the cradle. Yesterday, the customer emailed that they wanted to come by and pick up the cradle, and we informed them we no longer have possession of this boat cradle. Do they have any claim since they basically abandoned the property for 18 months? We are in Texas. |
| Home Entertainment Business? |
I ran into a old friend about a week ago and he said he he has a new business and asked me if I wanted a job. When I asked what he did, he said he owns a stripper business. He gets customers and has a driver take the dancer to the houses or wherever. He charges by the hour, and it is an all cash business. I asked if that was illegal, but he is saying it isn't. Is this business legal? |
| What Happens to a Judgment Against a Corporation in Bankruptcy? |
If a S-corporation has a judgment and later files bankruptcy does the judgment go away with the bankruptcy or does it transfer to the owners. |
| Personal Liability for Corporate Lease? |
My sister passed away. She was the owner of a small business in Chicago, IL. She was the president of the corporation and her husband is the secretary. He wants to close the business and cancel the remaining 3 year term of the lease. What can he do to not be responsible for remaining term of the lease? Thank you. |