Signed Agreement - Out Of State - Can I File A Judgement / UCC1?

Question

Hi...

Situation is this...

I have a signed agreement with an individual dating back to OCT 2005. He lives in California, I live in Chicago. I gave him $15,000 which was really a loan vs. "investment"; however, I assume that it WOULD be an investment as he promised "100% return" backed up by his own inheritance "within 60 to 90 days" of the signed agreement. Obviously, that should have come to pass long ago. To date (5/16/07), I have been repaid $13,000 of my original $15,000. At an absolute minimum, I am owed my remaining $2,000 PLUS $15,000 PLUS EXTRA for over 1 1/2 years of calls, emails, lies, suffering, broken promises, etc. - AND extra if I need to get an attorney for this, which I am not quite sure of at the moment.

I have been told that with my agreement, it's "open and shut", and that I can file a judgement myself against this person / entity. I can? Without legal representation? When I live in Chicago and he/the entity out of California?

Thanks!!

Answer 1

you may want to take this question to lawguru.com. i believe they can be more of a help to you.i would luv to know the name of this horrible person though.

Answer 2

If the agreement between you and the CA entity was written in plain language the were to receive payment by such and such a date, then by law you should have received payment by the terms established in your agreement. That document is legally binding and any actions or lack of action for or against the agreement can be punishable by law. You can bring this to his attention, that you are considering seeking a legal solution, after you have done that you are free to find a resolutions with whatever means necessary. If the terms of the agreement agree with your grievance you will 100% guaranteed win the case without any legal representation. Good luck!

Answer 3

I think you would have to file a lawsuit based on a breach of the contract in order to obtain the judgment.

If the Agreement you signed contains a "confession of judgment" clause in it in which the individual agreed to the judgment, you MAY have the ability to confess judgment against him. HOWEVER, this area of the law varies from state to state.

A typical confession of judgment is: "The undersigned irrevocably authorizes any attorney to appear in any court of competent jurisdiction and confess a judgment without process in favor of the creditor for such amount as may then appear unpaid hereon, and to consent to immediate execution upon such judgment."

Whether you sue in Illinois or California may be determined by wording in the contract. If that matter is not mentioned, it may be possible to sue in Illinois, however, the Illinois courts must be able to get jurisdiction over the defendant. This may be possible under an Illinois "long arm" statute, but I am not sure.

My best advice to you is to hire an attorney. The caveat is that attorneys fees may be in excess of the $2,000 you are owed, and, in addition, you may not get the extra $15,000 you are seeking. Have a brief consultation with an attorney in Chicago.

Edit: 18 May 2007

A UCC-1 is a financing statement. It is typically used to evidence a security interest in a piece of collateral and is signed by both the Debtor and the Creditor. Was one of these signed and recorded in accordance with the requirements of your state's enactment of the Uniform Commercial Code? Do you have a security interest in something?