North Carolina  |  Business Law

Legal Question

Asked on: 7/03/13, 11:23 am

I leased a store under my LLC that had pizza equipment in it. I brought in a partner & purchased the equipment. The money was loaned from a Finance Company. My partner signed for it. The equipment was in the store leased to me under my LLC. & was operating for a little over a month We had no agreement about repayment of the loan, terms, or anything of the such. I arrived at the store & found the place gutted without any prior knowledge, notification (written or verbal), or local authorities serving me with repossession papers. Does he legally have a right to take and sell the equipment in the store without my knowledge? Even if he owns the finance company?

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