First, you'll want an attorney to properly document this for you.
If you do an asset purchase agreement properly, the assets are acquired by the corporation so that from that day forward, operating the business will be the same as if it had been part of the corporation originally.
Generally, in the asset purchase agreement, you can contract to assume or leave behind specific liabilities of which you are aware. But, for example, if you acquired a company producing a defective product, the...
Update: It is okay to charge 0 interest, but the IRS requires that you impute interest for tax purposes so that the party making the loan will need to pay tax on that amount, whether or not that individual actually receives interest. So really, the IRS does not "allow" or "prevent" you from making a no interest loan. For tax purposes though, it treats it as though it had at least some interest.
Whether under the securities laws what you think of as a loan is also a security is a complex...
First, since you describe a corporation and a K-1, I speculate that you are shareholders in a sub chapter S corporation, rather than a partnership or a limited partnership. Many lay people use the term partnership generically, which may have caused confusion with the other answer I read.
In any event, just because he forced you out, in and of itself, is not a sufficient basis to get him to repurchase your shares.
However, if you have reason to believe that he made misrepresentations to...
No. That is not enforceable. Depending on your agreement, the "employer" may be able to offer you a prospective contract and terminate your earlier contract as of that date, but not retroactively. See an attorney.
Your question has some issues.
First, let me give you the simple and easy way out. Call your creditors and negotiate with them now. Assuming it is true, tell them you have a relative who is willing to invest your business, but only if you clean up those issues. So, if they don't play ball, they get nothing. Negotiate, get a written agreement up front so that you can let your family know what is happening before they put in a check.
Still, I cannot tell if you are talking about a...
No. The defendant still has some period of time (should be in the order) to answer the complaint.
The Judge will need to issue an order to remove the default. Understand that if done within six months, setting aside a default is liberally granted.
Given that the party demurred, it is possible that the clerk issued the default prematurely.
It sounds like you should probably have an attorney.
You'll want to consult a trusts and estates attorney or an elder abuse attorney. I'm not sure about the bank, but you may have recourse against your brother in law. If it was an honest mistake, then he should be willing to make it right. If not, perhaps it was no mistake but undue influence fraud by your brother in law.
The accusation does not appear to have been made under oath. For that reason alone, the Judge is unlikely to give it any credence. Further, even if made under oath, without evidence to substantiate this claim, the Judge would likely both not give it any credence but would likely look upon disfavor at the party making the allegation. As you say yourself, previous rock throwing allegations got no traction.
No one can really give you a great answer, though, unless they were there and know...
More often than not, mere non appearance at a single hearing is not grounds to permit a default to stand. Did the attorney file papers in advance of the hearing (so that the party made it's points in advance of a hearing)? Was the hearing on an issue that was dispositive of the case (if so, the court could grant the requested relief rather than default, if not default does not seem appropriate)? Has there been a history of failure to appear? What lesser sanction is there to address the...
I am with Hillary here.
1. Cancel the charge with the credit card company.
2. If the woman who signed the contract is the same one who told you it was cancelled, you have an issue of waiver. If she had authority to sign the contract, she had authority to waive any of its terms, including cancellation in writing.
3. Generally though, be careful. You are normally bound by what you sign, whether you read it or not.