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08-04-2020, 11:27 AM #10
the gray area was with all the COJs. Pretty much all MCA contracts are a clearly delineated performance guaranty in them, but when you lock up a merchant's personal accounts by adding his name into a COJ, and then go after those personal bank accounts after judgment, you kind of turn the deal into a personal guarantee. THIS is where clarification was warranted. The first step was eliminating the COJ. hat's the next step? Good question....clearly defined PERSONAL GUARANTY? I'll leave this to the jokers with the JDs
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