Legal Question in Business Law in California

Re: employee to employer loan - Statute of limitations?

Attorney Hoffman is correct in his asssessment of your time limitations. I would, however, like to add one more time issue. If you noted your loans in the corporate Minute Book, then there may not be a limit on your recovery time. Depending on how the money was lent will determine the answer. Obviously, more facts are needed to give you a definate answer.

I am curious as to how the President feels you"pierced the corporate veil" as this can only be done in very distinct situations, usually, lending money to a company is not one of them. Now if you had used the company money to purchase a computer for yourself with no intent to use it for business purposes, that would be different, however as you described the facts, it seems highly unlikely.

If you would like some assistance at recovering your computer and/or your loan, please feel free to contact me at my office at 626-578-0708 extension 4, or through my firm's business site at www.RulesofEmployment.com.

Regards,

Scott Linden

Re: employee to employer loan - Statute of limitations?

Let me get this straight -- you put over $10,000 of your money INTO the company and the president calls you a thief? Absurd. Besides, if he fired you because you blurred the line between the corporation and yourself by putting that money in, it seems inconsistent to deny that the money actually is yours.

If you have a written contract with the company then you have four years. If you have an oral agreement then you have one year. Either way you must prove either that the person with whom you made the agreement had authority to bind the company or that the company led you to believe that he/she had such authority. If you have no agreement you can still sue on a theory of unjust enrichment; offhand I don't know what the limitation period on that would be, but it must be at least a year. I suggest filing suit before the year runs out, just to be sure you protect your interests fully.

When the clock began ticking against you might be an easy question or a difficult one, depending upon the facts. If you had an agreement that the company violated, it began on the day of the violation. There may be room to disagree about what the agreement required an about what action violated it, so don't wait until the end of your year is approaching. If the court rules that the clock began before you thought it had, then you could lose the entire case on that basis.

Good luck.

Re: employee to employer loan - Statute of limitations?

Various ones starting at two years from the date of breach and extending to four years from the date of breach depending upon if what you are talking about is in writing or covered by a written agreement or not and other matters which may affect the statute. You know I say from the date of the breach which may have different dates or different start dates. Therefore, your very simple question is too difficult to answer without all of the facts and I advise you to get off your chair, and make an appointment with an attorney who is expert in this this law as well as corporate law. I understand piercing the corporate veil as I have done so successfully on numerous occasions but the facts were absolutely perfect for me to win a judgment against the individuals. The courts are loath to give any kind of piercing judgment and it takes a special set of facts as well as a special presentation of the same. More importantly, ifres shat the persident thinks. Why are to not asking your current attorney or, oops, did you do this all by yourself. Don't tell me you did because that could have been one of the @$%&^^&*( things you could have done to yourself.I have been practicing law in the San Francisco Bay area for approximately 35 years and expert in the area in the category in which your question is placed. I feel I can help you in this matter and if you wish to consult with me please contact me at 925-945- 6000.