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John Bolding
Joined: 23 May 2006
Posts: 281
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 Posted: Wed May 02, 2007 7:33 am Post subject: xxx Re: Selling an Experimental |
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This hasn't been something I've kept up with over the last 30 odd yrs but only 2 come to mind, Rutan and Wayne Ison.
don't remember ANYTHING about Rutan but Ison lost the rights to the Airbike/ Tandem Airbike to some jerk that sued him 3-4 times 'till Wayne didn't defend himself and the guy got a judgment against him after losing all the previous trials.
I'm wondering how someone would be able to know that you had a liability policy in effect, making you a better target?? LOW&SLOW John Bolding
[quote] ---
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agibeaut
Joined: 21 Mar 2007
Posts: 64
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| Posted: Wed May 02, 2007 8:07 am Post subject: xxx Re: Selling an Experimental |
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The knowledge that you have a Liability Policy will
come out quickly in discovery.
Do not archive
--- John Bolding <jnbolding1(at)teleshare.net> wrote:
[quote] This hasn't been something I've kept up with over
the last 30 odd yrs but only 2 come to mind, Rutan
and Wayne Ison.
don't remember ANYTHING about Rutan but Ison lost
the rights to the Airbike/ Tandem Airbike to some
jerk that sued him 3-4 times 'till Wayne didn't
defend himself and the guy got a judgment against
him after losing all the previous trials.
I'm wondering how someone would be able to know
that you had a liability policy in effect, making
you a better target?? LOW&SLOW John Bolding
---
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bryanmmartin
Joined: 10 Jan 2006
Posts: 1018
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| Posted: Wed May 02, 2007 8:10 am Post subject: xxx Re: Selling an Experimental |
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If I recall correctly, in the Ison case, the lawyers kept demanding
his insurance information and just couldn't believe he had no
insurance. The plaintiff got the company, but since it was broke at
the time, he didn't get much of anything but the name.
On May 2, 2007, at 11:32 AM, John Bolding wrote:
| Quote: | This hasn't been something I've kept up with over the last 30 odd
yrs but only 2 come to mind, Rutan and Wayne Ison.
don't remember ANYTHING about Rutan but Ison lost the rights to the
Airbike/ Tandem Airbike to some jerk that sued him 3-4 times 'till
Wayne didn't defend himself and the guy got a judgment against him
after losing all the previous trials.
I'm wondering how someone would be able to know that you had a
liability policy in effect, making you a better target?
|
--
Bryan Martin
N61BM, CH 601 XL,
RAM Subaru, Stratus redrive.
do not archive.
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_________________
--
Bryan Martin
N61BM, CH 601 XL, Stratus Subaru.
do not archive. |
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planejim(at)bellsouth.net
Guest
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| Posted: Wed May 02, 2007 8:58 am Post subject: xxx Re: Selling an Experimental |
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Bryan and John,
You're right about Wayne Ison. We were loose partners in the PDQ days ( all
based on a handshake ). I asked him then how he handled liability. He said
everything is in XXXXX's ( his wife - I'll not mention her name ) name. "I
rent or lease everything and carry no insurance. If someone sues me I'll
hand them the key and they'll get nothing" That's how it basically ended up.
He told the guys lawyer, who finally won, that when you come to pick
everything all you'll need is a pick up truck; a small one at that.
do not archive
Jim Hoak
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