Quote:
Originally Posted by Qcards
I think the vault idea is a valid selling option and I have considered using it but my major concern is that there is some type of lawsuit filed against the vault owner and that the assets would be frozen during a legal tie up or worse, the company claims bankruptcy and assets (cards) are frozen.
Any opinion on how valid these concerns are?
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Consider this very superficial and don't rely on it, but if I understand the vault concept the cards would not be Goldin's assets, the buyer would still own them and they wouldn't be subject to any action by Goldin's creditors. It's a "bailment" or something similar. But that would all be specified in the agreement.
Your basic Wikipedia definition:
Bailment is a legal relationship in common law, where the owner transfers physical possession of personal property ("chattel") for a time, but retains ownership. The owner who surrenders custody to a property is called the "bailor" and the individual who accepts the property is called a "bailee".[1] The bailee is the person who possesses the personal property in trust for the owner for a set time and for a precise reason and who delivers the property back to the owner when he or she has accomplished the purpose that was initially intended.