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?

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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 10 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.


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