Ask Experts Questions for FREE Help !
Ask
    Stecky's Avatar
    Stecky Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 3, 2009, 11:02 AM
    Corporate Credit Card liability to officer
    Can a collections company working on behalf of credit card companies utilize "Quantum Meruit" in order to collect from officer of corporation, where no personal guarantee exists?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Feb 3, 2009, 11:28 AM

    They can certainly attempt it - do I think they'll win? No. Of course, an IMPLIED guarantee can form a contract and that will be the argument. I've seen this argued based on where and how the card was used. One personal purchase/use and the officer is liable.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Feb 3, 2009, 11:36 AM

    As long as all purchases were done properly, no personal purchase and no personal promises made.

    Thus the reason to have a corporation
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Can credit card sue you for damages and liability? [ 3 Answers ]

Can a credit card company sue you for damages and liability? And if they can do so, I will like to know if it is with the purpose to inflict criminal charges. Also if I can stop all of this filing a bankruptcy? I know I am not guilty of anything. The system just does not work. I called so many...

Personal liability for a corporate credit card debt [ 1 Answers ]

We were shareholders in a TX corporation, which is out of business after having its assets surrendered to the bank holding an SBA loan. We are now getting telephone demands for personal repayment of the outstanding credit card debt, including calls at my new place of employment, claiming that we...

Problems in not paying a Corporate credit card and also a personal credit card [ 1 Answers ]

1. We are the main share holders in a "S" corp. The corporation is not longer doing business but have an outstanding credit card balance. We are making the mim payments but will not be able any longer. What can be done to us if we stop paying. 2. We also used a personal credit card for this...

Corporate Liability Time Limit for Inactive Company Ontario, Canada [ 1 Answers ]

Hi, For economic reasons (SARS effects on tourism in Toronto, mainly), we stopped operating an incorporated company in Ontario, but have continued to file annual tax returns. We have now decided to dissolve the company. However, at the time of stopping operations, we had several creditors and...

Civil summons for a credit card, but my fianc? Has never had a credit card [ 13 Answers ]

Hello! My fiancé has received a civil summons from a law firm representing Discover card. My fiancé has never had a discover card in his life. His parents hae one, but the civil summons is for him. He has never received a bill or a letter or a phone call. Apparently the card balance has been...

View more questions Search