Legal Question in Business Law in Colorado
lease on equipment
closed business and they came and got equipment. Now they are suing me for the amount owed and storage, interest, legal fees, etc. How can they keep equipment and sue me for it too
Asked on 10/26/08, 9:57 pm
2 Answers from Attorneys
Robert Murillo
Pivotal Legal Ltd.
Re: lease on equipment
It all depends on the contract terms. Review them and contact an attorney. Good luck.
Answered on 10/27/08, 7:49 am
Mark Cohen
The Cohen Law Group, A Professional Corporation
Re: lease on equipment
You probably signed a contract that gave them a lien on the equipment, but you remain liable for any debt over and above the value of the equipment. Have a lawyer look at the lawsuit. Depending on your financial situation, you may want to consider consulting a bankruptcy attorney if the debt is very large.
Answered on 10/27/08, 11:36 am
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