Legal Question in Business Law in North Carolina

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?

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

1 Answer from Attorneys

Kenneth Love Ken Love Law
0 users found helpful
0 attorneys agreed

You need to consult a consumer/debt collection attorney in your area. There is much more information needed to give you a proper answer.

Read more
Answered on 7/06/13, 4:18 pm

Related Questions & Answers

More Business Law questions and answers in North Carolina

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Business Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now