Can a partner in a company leave and take some current employees with them to start a new competing business?

A partner has the highest fiduciary duty to his partnersand to the partnership. Leaving to start a competing business breaches that duty, so that...

I took money out of my 401K Feb 2012 when I was 59. So I got penalized 10% because I didn't wait until May 2012 when I would of

unfortunately, the legal fees to recover $500 would eat up the recovery and then some. Try writing a lettr to the head od the brokerage firm. ...

Am I in real trouble?

I agree. Something is wrong. You need a lawyer. You may be able to get help from legal aid or the state consumer protection agency.

Can my mom be forced to pay for something she didn't sign?

No, if she signed nothing, she is not liable. Even if she signed she may not be liable if she didn’t understand. She should file a complaint with...

Can my husband refiance our home without me being aware of it.

Depends. Are you on title for the house? Does the bank know he’s married? This situation could arise if he bought the house before you were...

No, your letter is just evidence of the debt. You need a promissory note. The big difference is that the typical promissory note provides that...

I co-own a beauty shop in Alabama. My "partner" wants to form an LLC and use the name we have chosen for our business.

As I read you, you are not a candidate for formation of an LLC. It is like a marriage: You share everything and you may have to go to court to...

Can we fire a member of an LLC in CO if we don't have an operating Agreement?

Without an operating Agmt, in most states you cannot fire or get rid of a member without going to court. You need evidence of misconduct and will...

I loaned a friend $120,000.00 for 3 yrs. I have been paid so far 3 months. I just found out that he has lost all his assets.

Why didn’t you consult a lawyer before you let go of the money? You must hire a lawyer to file a lawsuit immediately. You cannot put a lien on...

I am the mortgagee. I gave 12 signed checks (mortgage payments) to the private mortgagor that did an owner finance loan for me.

You must be the mortgagor—the one who granted the mortgage to the lender, who is the mortgagee. Mortgagees do not make payments; they receive...