What is the name of your state? CA. I am partners in a small business corporation. We were recently sued in small claims court and lost the case. My business partner is very upset and does not want to pay the amount owed ($2,500). We both found the entire process somewhat sloppy, sort of an our word against theirs, and were surprised that we lost the case.
Anyway, he's refusing to pay and says if they want their money they'll have to work for it. My feeling is that we should appeal the case, and if we lose the appeal we should pay it and get on with our business. He's against it, says its a waste of time and since we are a corporation with little in the ways of assets or need for credit, and if it goes to collection who cares.
The problem is we both have assets outside the corporation (homes, cars, investment, etc.), My question is: Are the assets outside of the corporation also at risk? I don't want a lien on my house and will probably end up paying the money myself if we lose the appeal.
My partner is not a bad guy, just a stubborn, hot head who hates to lose (these are good qualities in our business)
ThanksWhat is the name of your state?
Anyway, he's refusing to pay and says if they want their money they'll have to work for it. My feeling is that we should appeal the case, and if we lose the appeal we should pay it and get on with our business. He's against it, says its a waste of time and since we are a corporation with little in the ways of assets or need for credit, and if it goes to collection who cares.
The problem is we both have assets outside the corporation (homes, cars, investment, etc.), My question is: Are the assets outside of the corporation also at risk? I don't want a lien on my house and will probably end up paying the money myself if we lose the appeal.
My partner is not a bad guy, just a stubborn, hot head who hates to lose (these are good qualities in our business)
ThanksWhat is the name of your state?