earnbyloaning.com on Page 4 at Nobullshit Network Forum

**sharonsopinion** · 04-20-2007, 01:40 AM

HI Shane,

What you're referring to is without a contract. When you have a legally binding contract with a corporation and they default for any reason, then you do not have to sue them or have court costs. All you need to do is to file a complaint along with the contract. It is is then included with all of the debts that the corporation incurred. Then all corporate and personal assets are frozen, sold and debts are paid. This happens before any other legal proceedings.

So, when you have a claim, but you don't have a legal, written contract, which is signed by both parties, then you must sue to get your money or file with a receiver, if one is appointed. If a judge allows that you are owed money, even though it wasn't guaranteed, then you stand in line waiting for all of the legal proceedings to be finished.

I have personal experience with this. My ex-husband took out a loan from me to pay off a substantial amount of money that he owed me. I drew up a written contract and had both of us sign it. Not long afterwards he filed for bankruptcy, chapter 13, which is worse than chapter 11. Guess what? He had to sell things off in order to pay me, because I had a written contract. I did not have to go to court. All I did was file a complaint and the written contract when I was notified of the bankruptcy.

So, there is a huge difference between having a disclaimer that returns are not guaranteed and only transaction records to prove anything vs. guaranteed returns with a written contract.

JMO,
Sharon

Myibiz4u · 04-20-2007, 03:09 AM

Quote:

Originally Posted by shanek

There is no protection there, you do not need to have a contract to demand in full what you are owed or sue someone for not paying you.
Now the key is, does this contract protect you? the answer is no, if they do not pay you, your choice is sue the company correct? do you know how much costs a nevada corporation? $300 (so no assets for you there) , what are you going to obtain when you sue them and win in court, nothing. So the contract legally is useless.

I'm just curious where did you go to Law school at? Or are you just stating what you think you know?
Sharon seems to have done a lot of research on this program. I think she has been very dilligent in trying to sort out the fact from fiction.
If EBL wasn't such a threat to the scam programs, I don't think people would be nearly as negative as they are. The more honest a company tries to be on the internet, the more the scammers and their cronies try to degridade them it seems.
I know, everyone is entitled to their opinion, but, theres a difference between opinions and BS. Opinions are formed from first hand information or similar circumstances.
BS is just what you think you know whithout having any information to formulate an honest opinion.

**allinvain** · 04-20-2007, 07:15 AM

Quote:

Originally Posted by shanek

Yes,you need to be licensed. if it would be as easy as making it look everything like a loan and avoid SEC regulations, dont you think that most companies would do it? just think about it.

Ok Sir, next time you think about letting someone borrow money from you, you better think twice! because you need to be SEC licensed..

I think you're confused a bit. Most companies do not need a SEC license because they do not SELL OTHER COMPANIES' SECURITIES to the public or take your money and purchase other companies' securities (stock, bonds, and other financial instruments). Also, most companies are private companies, meaning they don't issue stock or notes (bods, etc..). They usually take out a loan from a bank. So tell me sir, what is the difference between taking out a loan from a bank and an individual? On both occasions do you have do sign a legal contract - yes! if you want it to be legally binding.

A one to one legal contract is just that! a promise to do something under penalty of the law under which the contract is binding. Therefore a written contract is legally enforceable if a party fails to perform (legal speak for not doing what you promised in the contract).

Interesting side note: Check out SEC regulation D (allows private companies to issue stock to the public without registering with the SEC - limitations apply)

On your next post, I would appreciate it if you posted some information to back up you opinion.

shanek · 04-20-2007, 07:54 AM

I am giving my personal opinion about all this, and seems that some people is taking it personal, I will tell you what I am going to do, I am going to contact the Nevada SEC commission ,I am sure that they will clearly inform me about who is correct here.

**allinvain** · 04-20-2007, 08:02 AM

Shanek, I hope you're not offended..I just like to argue and that's my style, but I rarely take things personally.

You know, that's a great idea..please do that and post the results here.

Thanks

shanek · 04-20-2007, 08:47 AM

Quote:

Originally Posted by allinvain

Shanek, I hope you're not offended..I just like to argue and that's my style, but I rarely take things personally.

You know, that's a great idea..please do that and post the results here.

Thanks

Allinvain it has nothing to do with you, I like to argue also, it is for myibizyou, to whom I would like to add that I have not questioned the honesty of EBL, I have questioned its legality. Honesty and legality are two different things. But as I said before I am sure that we can have this clarified by the Nevada securities division.

NelsonN · 04-20-2007, 12:00 PM

Yes, shanek, please do.

I am interested in the truth as much as anyone in the program, I am sure.

**sharonsopinion** · 04-20-2007, 06:40 PM

Quote:

Originally Posted by shanek

I am giving my personal opinion about all this, and seems that some people is taking it personal, I will tell you what I am going to do, I am going to contact the Nevada SEC commission ,I am sure that they will clearly inform me about who is correct here.

Thank you, Shane! I agree with Alin and Nelson in that I'm very interested in the answer, also.

Thanks,
Sharon

Myibiz4u · 04-21-2007, 03:40 AM

Quote:

Originally Posted by shanek

Allinvain it has nothing to do with you, I like to argue also, it is for myibizyou, to whom I would like to add that I have not questioned the honesty of EBL, I have questioned its legality. Honesty and legality are two different things. But as I said before I am sure that we can have this clarified by the Nevada securities division.

Well Shanek, glad I could be of assistance.
As for making it personal, I questioned your ability to form an honest opinion with verifiable information or knowledge by way of education. You didn't provide that at all.
So my question was to ask you for your background to see if you had any business Law education you were able to draw upon as part of your analysis of the contract.
Your opinions are just that, your opinions. I respect opinions, but they should have a solid basis to prove or disprove an arguement. I need not look far for an educated opinion. I just ask my dear ole dad, who is a very educated man. 3 masters degrees in business Law and finance.
He says the contract is legal and binding in any court of law. Good enough for me.

**sharonsopinion** · 04-21-2007, 04:57 AM

Thanks, Mybiz4u,

I sent the lender's agreement to two different contract lawyer (one of them weeks ago.) Neither one has gotten back to me. Since your dad is a lawyer, is there any way he would write a statement that he is a qualified lawyer and confirms that the contract is legally binding? His name isn't necessary.

My purpose is two-fold. First, to satisfy what I already concluded based on my own experience. (I am not a lawyer, but I've been reading legal documents as a hobby for many years. Which means, I can give myself advice, but not anyone else. LOL) Second, I would like to post the confirmation at NoBS HYIP Blog. A single sentence from him would do. He can email me at my NoBS Network email address.

Thank you,
Sharon