L Jay Labe's Answers

Are “Individual Sureties” authorized in Colorado?

The short answer is “no.” Individual sureties are not authorized to write payment and performance bonds in Colorado, particularly if the construction project involves a city, county or state public works project. If the project is federal (which doesn’t seem likely given your brief description) the answer is “maybe,” but only if the individual surety has a certificate of authority to do business in Colorado and has fully complied the requirements of the Federal Acquisition Regulations (FAR §...

3 people marked this answer as helpful

Mechanic's Lien from Subcontractor we didn't have contract with.

Depending upon your circumstances, Colorado has a specific statute that may be of assistance. You may be able to defend the subcontractor's mechanic's lien based upon a showing that you fully paid the contractor. Here is the actual statute: C.R.S. 38-22-102. Payments - effect. (3.5) Any provisions of this section to the contrary notwithstanding, it shall be an affirmative defense in any action to enforce a lien pursuant to this article that the owner or some person acting on the...

3 people marked this answer as helpful

How many days does a subcontractor have to have a lien put on our home in Colorado.The contractor was paid for all the work.

Under Colorado Law, if you can prove that you paid the general contractor, then you will have an affirmative defense to any mechanic's lien that is filed. See Colorado Revised Statutes, Section 38-22-102, (3.5) . . . it shall be an affirmative defense in any action to enforce a lien pursuant to this article that the owner or some person acting on the owner's behalf has paid an amount sufficient to satisfy the contractual and legal obligations of the owner, including the initial...

Can a subcontractor cash a check issued to them and cross out the notation of final payment that was noted by issuing company?

Unfortunately, the answer to this question is not clear cut. A lawyer needs to assess the factual circumstances in detail. If the subcontractor has succeeded in negotiating the check, then it will be up to you to establish the facts and circumstances necessary to establish that his negotiation of the check constituted an agreement to fully and finally release and discharge the claim. Your attorney will want to look at the letter pursuant to which the check was tendered and the negotiations...

What is bail forfeiture

In states where commercial bail is authorized, licensed bail bonding agents post appearance bonds for defendants seeking release from the custody. The terms of the appearance bond (its "primary condition") provides that the defendant will appear in court when required. If the defendant fails to appear (known as an "FTA"), the bail bonding agent may be required to pay the face amount or "penal sum" of the bond to the court. Immediate payment of the forfeiture is not required. Most states...

2 people marked this answer as helpful

How can I protect my assets from a surety bond my husband's company is seeking?

Surety companies typically require spouses of company owners to sign indemnity agreements holding the surety harmless from loss, and provide for reimbursement of the surety for any loss it sustains, including attorneys fees. If you sign the indemnity agreement, you and your personal assets will be at risk, unless the agreement contains a very specific addendum or agreement to the contrary. These indemnity agreements must be taken very seriously. You would be wise to seek counsel before...

1 person marked this answer as helpful

If a sponsor of a bail bond kills himself who becomes responsible for the bond

If I understand your question correctly, just concern yourself about your friend's depression and make sure that he gets appropriate treatment. His death would not make you liable on an appearance bond, but will have the opposite effect. The bond would be exonerated, or released upon an appropriate showing of the terrible circumstances. So don't worry about the bond, just take care of your friend, help him get treatment and make absolutely sure he gets to all necessary court appearances.

Do I have any legal recourse against an auto dealer that misrepresented the car

Most states require used car dealers to post bonds that provide coverage for a dealer’s failure to deliver title within a specified time frame. Depending upon the state, the bond may only provide $20,000 to $50,000 in policy limits (also known as “penal sum”) to pay all of the claims from everyone impacted by the dealer’s misconduct. There could be many bond conditions that could make your claim problematic. Nevertheless, you should contact your state’s regulators (the agency in charge of...