Legal Question in Business Law in Florida

Business, Personality Liability

I sold my business on 8/31/07 and kept my bank acct open for a few months for receivables and security deposits refunds. Now the entity that owned this business is non-existing. Can the new owner sue me personally if he didn't open a credit card merchant account and some cc payments were deposited to my business acct after he bought the business? I closed my account with merchant services, but was unaware (as I was away for 6 mos) that AmEx was not part of the merchant account and they were continuing to deposit into my account. The new owner learned about this after I closed my account (when I returned) and merchant services contacted him because they were unable to deposit cc payments. Can the new owner sue me personally?


Asked on 5/25/08, 7:39 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: Business, Personality Liability

If money intended for the new owner was deposited into an account that you controlled and you took the money from the account (by closing it), then you are personally liable. It may constitute civil theft, which would make you liable for three times the amount you took. Bottom line, the money was not yours, you know it, so return it.

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Answered on 5/26/08, 4:36 pm


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