If I got a call today saying I was going to be sued over a business checking account that I closed5 years ago,is there anything I can do?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If I got a call today saying I was going to be sued over a business checking account that I closed5 years ago,is there anything I can do?

They would not give me any other info except that the bank it was with. I was not the only owner of the company.

Asked on September 14, 2011 under Bankruptcy Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

If you received a call today stating that there would be a lawsuit filed over a closed business account more than five (5) years old, there is a good chance that the applicable statute of limitations to file such a lawsuit (depending upon the cause of action plead) may have run in that a typical breach of contract case has a statute of limitations of four (4) years running from the breach at least in the State of California.

Another issue for you to consider is whether or not your business was a corporation or a limited liability company and if you personally signed any guaranty or not for this business.

Depending upon the amount at issue, you might consider consulting with a business attorney about this possible lawsuit.

Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption