Question: Atlas Capital LLC s sole member and manager was Weston Wade

Atlas Capital, LLC’s sole member and manager was Weston Wade Sleater. Mr. Sleater signed two promissory notes totaling $4,000,000 as the maker of the notes. The signature blocks of the notes read, “Weston Wade Sleater & Atlas Marketing Group, L.C.,” but the signature was only that of Mr. Sleater. Mr. Sleater is referred to as the maker of the note. Mr. Sleater failed to pay the notes and a bankruptcy trustee brought suit to collect the remaining amount due. Mr. Sleater maintains that the notes are not his, but those of Atlas Capital. Is he correct? Is Mr. Sleater liable on the notes? Discuss the ambiguity issues as well as the way the notes were signed. [In re Bedrock Marketing, LLC, 404 B.R. 929 (D. Utah)]

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  • CreatedJune 06, 2014
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