Legal Question in Legal Ethics in California
Four people started a California corporation and I helped them get it up and running. Most of my time was going to be sweat equity. They paid me some money on 1099. I agreed to open the company credit card with my name and social security number. All purchases on the card were company related. I didn�t use it for any personal expenses.
The company died. The card has $10,000 on it. I have been paying the minimum payment on it for months while I try to get these guys to pay the debt. They won�t answer my emails, texts and phone calls.
I am not an owner of the company in any way.
Do I have any legal recourse to get them to pay off the credit card? If I pay it off now (major hardship on my family) am I reducing my chances of getting any legal satisfaction?
1 Answer from Attorneys
1-This is not a legal ethics question. You probably can't recover 1- Unless there is fraud, deciet, misrepresentation involved probably can't recover anything personally. 2- unless they promised in the personal capacity to pay you can only recover against the corp which is pointless now. next time consult an attorney first.
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