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Thomas R. Morris

Thomas Morris’s Answers

197 total


  • I am considering selling my business.. I have no idea of how to proceed... What type of attorney might I need..

    How do I place a value on the business itself.. I have been in business since 1985.. I have showcases, safes , equipment.. I also own the free standing building.. It is a jewelry business with repair service..I have a large inventory that can be...

    Thomas’s Answer

    Find a local (in southeast Michigan) attorney experienced in business matters whom you trust to help you to first decide upon your strategy and to do what is necessary to position yourself for a sale, and then to implement the transaction(s).

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  • I was discharged from chapter 7

    I included my mortgage. The bankruptcy states there are no assets and the case was closed on 04/04/11. I currently live on the property and haven't made a mortgage payment in over 5 years. I went to the county today to check on the deed and I am l...

    Thomas’s Answer

    The property is presumably still subject to the mortgage. If that's the case, were you to sell it the purchaser would take title subject to the mortgage. When would the mortgagee foreclose on the purchaser? I cannot predict that. At some point, the statute of limitations would expire and the mortgage could no longer be foreclosed and the owner would be entitled to quiet title (sue for a judgment determining the mortgage to be unenforceable) but the applicable limitations period is a long one, fifteen years from the mortgage coming due if I recall correctly.

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  • Would I most likely win this case?

    I enrolled my children in a daycare and in her handbook it states that you have to give her two week notice if you decide to withdraw your children. I decided to not tell her I did not want them to come anymore, I just stopped bringing them. Its n...

    Thomas’s Answer

    The answer depends upon whether there is an enforceable contract which includes the two-week cancellation provision. Did you sign something stating that you agree to the terms stated in the handbook? If so, the daycare provider seems to have a case. If not, the daycare provider would have a more difficult time proving that the terms in the handbook were agreed to by you.

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  • If file the wrong chapter and let it dismiss can I reinstate the case and file chapter 11 or should I file a new case?

    if filed chapter 13 bankruptcy per se When preparing the schedules I realized my assets were above 1.1 million and did not qualify for chapter 13 and let the bankruptcy get dismissed by the court.

    Thomas’s Answer

    Individual chapter 11 cases are complex. There is no asset limit for chapter 13, but there's a debt limit. Since you apparently don't know the difference between assets and debts, you should consult an attorney. Don't be insulted by that. Chapter 11 is complicated.

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  • Is there any difference between the meaning of "trade name" and "assumed name" in Michigan law?

    My reading indicates that they are essentially the same. I am not referring to "trademark" or any similar term, just "trade name" and "assumed name". I have read that the term "assumed name" does appear in Michigan statutes, so I believe that te...

    Thomas’s Answer

    The two have the same meaning in general usage under Michigan law. I say "in general usage" because many statutes provide definitions. See the website of LARA (Licensing and Regulatory Affairs) for a discussion of the definition of "trade name".

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  • How do we find heirs to vacated house where the owner has died?

    We have contacted township (winter & summer taxes are unpaid), Register of Deeds & Probate Court but unable to locate owners. We would like to purchase property. No mortgage on house, but latest filing on Register of Deeds shows Housing & Urban D...

    Thomas’s Answer

    If HUD was the grantee under a deed, it sounds like HUD is the owner. Consult an attorney to examine title to find the owner. Finding the heirs of the owner, if that's still relevant, can be difficult. That's a question best directed to a probate attorney. I do not believe that there's an easy answer, only different options to consider.

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  • Bankruptcy as a way to stop non related debt litigation?

    My LLC might be a party to a lawsuit for damages, I have no assets but the business is profitable and may not pass the means test for a chapter 7. I have no interest in going through litigation, both from the financial and emotional aspec...

    Thomas’s Answer

    I agree with Mr. Woodward. Here are some additional points: Means test does not apply if debts are not primarily consumer debts. I don't have enough information to evaluate your strategy. It may work, but there are many variables. Value of the business and whether you can either claim it as exempt or restart a business if the trustee sells it are important considerations. You need a bankruptcy expert who is also a business lawyer.

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  • What is the legal liability of a dba?

    If a business entity does business under an assumed name (DBA), what is its legal liability for its wrongdoing? Does the DBA have legal liability? Can it be a named defendant in contract and tort? In our case, the DBA was on the contract, so I ...

    Thomas’s Answer

    A "d/b/a" or assumed name, is like a nickname, another name by which the business is known. A business entity (or natural person) can be sued under its assumed name, but it makes no difference as to liability. A d/b/a is not a separate entity.

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  • If there is a judgment against me, and my primary residence is jointly owned by my wife and me, is our house at risk?

    Is house is at risk in Michigan state.

    Thomas’s Answer

    Basically, yes, provided that your wife is not jointly liable for the debt. It's safe, assuming no complicating facts, so long as it continues to be owned jointly by husband and wife. But be aware that every marriage ends with a death if not sooner, and be aware that there may be other vulnerabilities. It's too complicated for me to give you a complete answer. I would need more information.

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  • In an international commercial contract, which country's law will be applicable ?

    A ( a U.S. based company) entered into a contract with B (an Indian company).There was an arbitration clause and the seat was in New York. B was to write software codes for A and acc. to the contract A was to pay B a certain amount for every ...

    Thomas’s Answer

    Given that there's a New York arbitration clause, I would look for a New York choice-of-law and venue clause. If there are such clauses, then New York law will apply. I don't know whether the Indian courts honor choice-of-law provisions.

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