What is the name of your state?
Here is my question, bear with me as I am not up to date with the legal terms and I am not even sure if I am posting this in the right place. I realize that this will be vauge, but an overall response is what I am looking for.
My boyfriend before I met him had borrowed 10000 dollars from a family member at 18% interest/year to purchase shares in a bottle water co. Upon doing this a piece of paper was signed by the owner of the restaurant that the water bottle co. was set up in. This paper stated that the restaurant would be responsible for all loss until the water bottle company became coorperated. Now the question. The owner has drank the bottle water co. to the ground with his boozing ways. The restaurant is still alive however as a strip club (not a high class, or busy, one either) instead of what it was. It has not become coorperated. There are other individuals with shares that also have received nothing, absoulutely nothing. Do they with this signed contract have a chance to get their money back? If so their money plus. My boyfriend seems to think he does, I think there is no money and so I don't get how that would work? Our friend (who is a labor lawyer) says we could take it to sm. claims court. What do others think. Thank you in advance for any comments you's send my way.
Here is my question, bear with me as I am not up to date with the legal terms and I am not even sure if I am posting this in the right place. I realize that this will be vauge, but an overall response is what I am looking for.
My boyfriend before I met him had borrowed 10000 dollars from a family member at 18% interest/year to purchase shares in a bottle water co. Upon doing this a piece of paper was signed by the owner of the restaurant that the water bottle co. was set up in. This paper stated that the restaurant would be responsible for all loss until the water bottle company became coorperated. Now the question. The owner has drank the bottle water co. to the ground with his boozing ways. The restaurant is still alive however as a strip club (not a high class, or busy, one either) instead of what it was. It has not become coorperated. There are other individuals with shares that also have received nothing, absoulutely nothing. Do they with this signed contract have a chance to get their money back? If so their money plus. My boyfriend seems to think he does, I think there is no money and so I don't get how that would work? Our friend (who is a labor lawyer) says we could take it to sm. claims court. What do others think. Thank you in advance for any comments you's send my way.