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matthewking71
Guest
What is the name of your state? New Hampshire
I invested $10,000.00 in a small company that I worked for in 2002. I recently left the company, on good terms, and have re-couped $3,000.00 of the $10,000.00. The company seems to intend to pay back the rest of the money, but does not want to put a time limit on the payment. I am curious if there is any legal principle that allows me to request rapid payment. I am not requesting interest or dividends, just the principle of $7,000.00. Are they required to pay me back, and if so, can I make them pay back according to my schedule. They have issued a K-1 form for the year 2002.
I invested $10,000.00 in a small company that I worked for in 2002. I recently left the company, on good terms, and have re-couped $3,000.00 of the $10,000.00. The company seems to intend to pay back the rest of the money, but does not want to put a time limit on the payment. I am curious if there is any legal principle that allows me to request rapid payment. I am not requesting interest or dividends, just the principle of $7,000.00. Are they required to pay me back, and if so, can I make them pay back according to my schedule. They have issued a K-1 form for the year 2002.