Players - The LEGAL DANGERS of Accepting Partial Payments !

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Bigbro66

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I'm sure others with more legal knowledge than myself will contribute to this thread :)

KT is offering partial weekly payments until the amount is paid in full but has NOT specified the terms of the partial payments.

Now the duration and terms of the installments have NOT been put in writing so if a player gets sent a check for 10% next week and cashes it, are they in effect legally agreeing to KT's payment plan ? And if so and the payment plan is not written in a binding contract, KT could start paying 1cent per week and if taken to court could say that this was the agreed payment plan which the player accepted because they cashed the first check ??

Anyway if that's even close to right, players need to get in writing the full details of KT's proposed payment plan so that if he deviates it even by a whisker, he can be sued.
 
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Bigbro66 said:
I'm sure others with more legal knowledge than myself will contribute to this thread :)

KT is offering partial weekly payments until the amount is paid in full but has NOT specified the terms of the partial payments.

Now the duration and terms of the installments have NOT been put in writing so if a player gets sent a check for 10% next week and cashes it, are they in effect legally agreeing to KT's payment plan ? And if so and the payment plan is not written in a binding contract, KT could start paying 1cent per week and if taken to court could say that this was the agreed payment plan which the player accepted because they cashed the first check ??

Anyway if that's even close to right, players need to get in writing the full details of KT's proposed payment plan so that if he deviates it even by a whisker, he can be sued.
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What KT has effectively done is lower his offer. He did offer 1/3 of 3 million in 3 payments. Instead of accepting it and working with KT the IPT players all took advice from Eydie and Timberly. How many of you people even know them? What are their credentials?

Anyway, the new offer is the installment plan. A check a week until everyone is paid in full, or the money runs out. Reminds me of letters of indebtedness I used to send to businessmen when I was in the Army in Alabama. Dear businessman, Pvt Joe Deadbeat owes you $575 so I have made arrangements for him to pay you $10 out of his pay check each month. Enclosed find the first payment of $10. Sincerely, Capt Good.

It will be interesting to see the size of the checks sent out. I suspect $100 each. The option for filing bankruptcy is still there. Of course if you cash the check then I suspect that will be an acceptance of his terms. That's a decision the IPT players have to make. If they don't know what decision to make then I suggest they stop at the pool hall and ask the local drunk what they should do; Or they can listen to E & T, or they can find an attorney, pay him/her some money and get some good advice.

I wonder how many players actually picked up the phone and tried to contact the IPT and work out a settlement with them?

Good luck,

Jake
 
I don't think the IPT players just went off the advice of Eydie and Timberly. They have been in contact with each other over the last couple of months, at least part of them. I happen to know both of these ladies, and they're pretty smart in my opinion. I haven't read every post they have made, but the post's I have read, seems they are just trying to make sure the players who visit here get all the possible info they may need. They know a lot of the players personally and consider them friends. If it were your friends not getting paid for something they earned, would you try to help them? They just happen to have a lot of contacts in the pool world and I, personally, would be very appreciative of their efforts to help me if I were waiting on my money. Thanks girls for all your efforts to help our sport. Sam
 
BogBro66...You couldn't be more correct to advise caution about accepting partial payments. In fact, the Uniform Commercial Code HAS been changed fairly recently so caution should absolutely be exercized and legal counsel sought.

However, without reversing field AT ALL on the above cautions, in MY state (Tennessee) I am advised that marking "Partial Payment" and noting a Balance Due in a specific amount on the back of any check is the way to go to obtain proper protection.

BUT YOUR RESULTS MAY VARY....CHECK WITH YOUR LAWYER.

Also note that the partial payment issue RELATED TO LANDLORD/TENANT relations...which have been referred to elsewhere on this forum...has nothing to do with commercial transactions and is subject to SPECIFIC state laws governing such relationships.

Regards,
Jim
 
jjinfla said:
What KT has effectively done is lower his offer. He did offer 1/3 of 3 million in 3 payments. Instead of accepting it and working with KT the IPT players all took advice from Eydie and Timberly. How many of you people even know them? What are their credentials?
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Jake, if you had a brain you would be dangerous. :rolleyes:

Let's see dumb ass, he offered a third in 3 payments. The players did listen, and now they are going to (supposedly)get it all. So your point is????

Yes, many people know me have known personally for many years. You, on the other had, are a nobody with big opinions and little intelligence.
 
av84fun said:
BogBro66...You couldn't be more correct to advise caution about accepting partial payments. In fact, the Uniform Commercial Code HAS been changed fairly recently so caution should absolutely be exercized and legal counsel sought.

However, without reversing field AT ALL on the above cautions, in MY state (Tennessee) I am advised that marking "Partial Payment" and noting a Balance Due in a specific amount on the back of any check is the way to go to obtain proper protection.

BUT YOUR RESULTS MAY VARY....CHECK WITH YOUR LAWYER.

Also note that the partial payment issue RELATED TO LANDLORD/TENANT relations...which have been referred to elsewhere on this forum...has nothing to do with commercial transactions and is subject to SPECIFIC state laws governing such relationships.

Regards,
Jim
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You seem to know a lot about this stuff. Do you think he is possibly breaking any Federal laws through various means involving state lines and so on? I remember reading something about a small time con man who ended up with serious prison time through the use of the phone and interstate dealings. He compounded what was a small crime into something bigger..
 
LMAO, I have Jake on ignore but after seeing Eydie's post quoting him, I have to laugh. :D

Jake, thanks for giving us SOOOO much credit. However, lets give credit where credit is due. The players.... Rodney Morris, to the best of my knowledge was the one to rally the players. Sure, Eydie and myself and quite a few others on here gave our opinions but this whole movement was started by the players, for the players. We're simply "cheerleaders" in a sense. Granted, we do what we can, when we can to help, but we're not making up the players minds for them.

LOL, thanks for the laugh!
 
macguy said:
You seem to know a lot about this stuff. Do you think he is possibly breaking any Federal laws through various means involving state lines and so on? I remember reading something about a small time con man who ended up with serious prison time through the use of the phone and interstate dealings. He compounded what was a small crime into something bigger..
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Believe it...if the feds can get him on anything at all they will. Johnnyt

PS. GOOOOOOO FEDS.
 
macguy said:
You seem to know a lot about this stuff. Do you think he is possibly breaking any Federal laws through various means involving state lines and so on? I remember reading something about a small time con man who ended up with serious prison time through the use of the phone and interstate dealings. He compounded what was a small crime into something bigger..
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I'm curious how laws differ state to state as well.

I'm really curious about the laws concerning verbal contracts in Illinois and in Florida. This could really be reaching, but still, curious. It has always seemed odd to me that an Illinois based company started in Florida, then to Nevada but, never reached back to Illinois. Like I said, probably a very long reach.
 
ironman said:
I'm curious how laws differ state to state as well.

I'm really curious about the laws concerning verbal contracts in Illinois and in Florida. This could really be reaching, but still, curious. It has always seemed odd to me that an Illinois based company started in Florida, then to Nevada but, never reached back to Illinois. Like I said, probably a very long reach.
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I'm no lawyer but I know there are all kinds of Federal laws involving the use of a telephone and the mail in the commission of a crime that can elevate it's status. None of this gets the players their money but could land him, hopefully back in jail where he belongs.
 
macguy said:
I'm no lawyer but I know there are all kinds of Federal laws involving the use of a telephone and the mail in the commission of a crime that can elevate it's status. None of this gets the players their money but could land him, hopefully back in jail where he belongs.
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I'm no lawyer by any means of the imagination either, and hate to sound paranoid, but underestimating a KT or his advisors can be putting many in harms way.

Jail, I could really care less. There are lots of people locked that KT should replace. Federal Laws involving the Phone and the USPS have landed many bookies in jail.

I'm still curious as tho whether State by State laws and Verbal Contracts varying in different States are going to complicate this whole matter.

Hopefully the players will be very careful when cashing these chaecks though. That is assuming they even arrive.
 
macguy...<<You seem to know a lot about this stuff. Do you think he is possibly breaking any Federal laws through various means involving state lines and so on? >>

Such violations as you refer to are mostly criminal in nature and I wouldn't touch that with YOUR fork!

All I will say is that without question, the conduct of the IPT business has taken place across state lines and by the use of various instrumentalities of interstate communications and commerce.

Whether any Federal criminal laws were broken is ENTIRELY up the the Department of Justice to determine and even IF they were to conclude that any laws were broken it is ENTIRELY in their discretion to decide whether to prosecute.

Regards,
Jim
 
jjinfla said:
What KT has effectively done is lower his offer. He did offer 1/3 of 3 million in 3 payments. Instead of accepting it and working with KT the IPT players all took advice from Eydie and Timberly. How many of you people even know them? What are their credentials?...

Good luck,

Jake
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Well, if they took advice from Timberly, then they consulted an attorney and found out what their rights really were. I fail to see how that could cause the sky to fall on them.
 
Ironman...<<I'm really curious about the laws concerning verbal contracts in Illinois and in Florida>>

Hi,
Except for varying statutes of limitations that cut off one's ability to sue under contract law...and a few other things...contract law is fairly well settled in the U.S.

There is nothing about the IPT bouncing around from state to state that would mean much if any breach of contract allegations are filed.

Regards,
Jim
 
av84fun said:
Ironman...<<I'm really curious about the laws concerning verbal contracts in Illinois and in Florida>>

Hi,
Except for varying statutes of limitations that cut off one's ability to sue under contract law...and a few other things...contract law is fairly well settled in the U.S.

There is nothing about the IPT bouncing around from state to state that would mean much if any breach of contract allegations are filed.

Regards,
Jim
Click to expand...

I had hoped I was reading something which isn't there.

Anything this slippery, I tend to give too muxh credit.

Thanks
 
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