Legal Question in Business Law in Florida

Business Judgement
We are being sued by a material supplier and are going to a judgement hearing. We know we owe them the money and have offered the only asset we have free and clear plus 25% of the monet owed. They will not accept this and simply want a judgement aginst us. My question is why, what are they gaining since we have already offered all we have. We don't even own a home we are living woth family and Have no savings or other asset other than a work truck that is paid off which we offered them.

Asked on 3/17/09, 5:29 pm

2 Answers from Attorneys

Hunter Chamberlin Chamberlin Butler & Crowe, P.A.

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Re: Business Judgement

There are many reasons why they may want to have a judgment against you as opposed to money in hand. Being a judgment creditor provides them with many tools they can use to ultimately collect the amount due, including garnishing accounts receivable, bank accounts, pay checks, and other items. Plus, with a judgment, it accrues interest at about 11%.

That being said, there are things you can do to protect yourself. For instance, you can file an offer of judgment, which means that if they do not get a judgment for a certain amount above what you have offered, they would be responsible for your attorneys fees.

If you would like to discuss your options further, please contact me at your convenience.

Answered on 3/17/09, 5:34 pm

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