Paying three hundred thousand dollars of debt before being ordered out of the house
“I am adding a clause to the final clearance agreement,” I said, my voice steady. “We are going to structure the seventy thousand dollars not as a gift or a marital contribution, but as a secured loan to Marcus’s startup.”
There was a pause on the line, the quiet hum of the phone line between our offices.
“If we do that, Marcus will have to pledge his personal corporate shares as collateral,” David said.
“Exactly,” I said. “And the agreement will state that if the corporation defaults on any portion of the loan, those shares transfer to me automatically.”
“He will not read the collateral clauses,” David said. “He is too desperate for the cash to clear the bank.”
“I want the language buried in section four under the standard corporate definitions,” I said.
“I will draft the specific legal terms and email them to you in twenty minutes,” David said.
I hung up the phone and looked out the window. The lights of downtown Richmond stretched out toward the dark line of the James River.
