Legal Question in Banking Law in Georgia

Anti Trust Laws- Unfair Trade Practices

I am being sued by a corporation that did ''a tyed selling'' practice. They provided a capital loan to go into my business. (Allowing my husband to forge my name as well). They tied the cap loan to the exclusive selling of certain property insurance (extended warranties on used cars) versus selling warranties from another company. A portion of the money from the warranty sells went back to pay back a ''0%'' interest loan. In the credit agreement (of which I did not sign, It states, ''as an inducement to sell '' ____ warranties exclusively''..etc.. We will provide a capital loan for 350K. Does this seem like an anit trust violation? It seems to violate the insurance codes of Georgia as well (O.C.G.A. s 33-6-4 ) inducing someone to do business with you. Please let me know your thoughts. My husband has suffered a massive stroke and in a nursing home. I am left to deal with this issue. They are trying to place a judgement on me for the amount left owing on the loan. I had no knowledge of the loan.


Asked on 3/30/07, 9:04 am

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Anti Trust Laws- Unfair Trade Practices

You are being sued. There is only one answer -- get a lawyer now. Business loans, anti-trust issues, and forgery issues cannot be resolved here.

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Answered on 3/30/07, 9:10 am
SHERRY RAGOLE RAGOLE & ASSOCIATES, LLC

Re: Anti Trust Laws- Unfair Trade Practices

It sounds like your are going through an extraordinarily difficult time. It is unlikely that someone without the issues that you are dealing with would be able to talk their way out of this lawsuit or the damages that are being sought. Although the prospect of paying legal fees is no doubt discouraging, your best opportunity to get this straightened out really is to employ a lawyer as soon as possible, and don't talk to your oppositiion prior to doing so.

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Answered on 3/30/07, 11:19 am


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