Legal Question in Business Law in Virginia
a friend invested in our construction company and the plan was for him to be part of the management team. we were all burned out and needed a fresh person to come in and reorganize it. due to the lack of business the company was forced to close and now he wants to sue us personally. we lost literally everything trying to keep the company alive. can we go to jail for not being able to pay him back? we are willing to pay him but we barely make any money to keep our bills straight
Asked on 10/21/09, 7:16 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
No, under our system of American justice, debtors are not jailed for their failure to pay their bills as was quite often the case in times long ago.
Answered on 10/26/09, 8:29 pm
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