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Term Sheet Review — YC SAFE note terms review

Started by newbie_trader_FL · May 29, 2024 · 1,847 views · 10 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
NT
newbie_trader_FL OP

I'm in a difficult situation and trying to figure out my next steps.

YC SAFE note terms review. I've been dealing with this for about 8 months now and the situation isn't improving.

I have already done some research online but got conflicting advice.

What are the risks if I pursue this? What's the likely timeline?

TL
Mod_TermsLaw Moderator

I specialize in this area of law. Here's my take on the legal issues.

Based on what you've described, you likely have a viable claim under the relevant statute. The standard is whether a reasonable person would find the conduct actionable.

You should consult with a local attorney who handles these cases. Many offer free initial consultations.

SA
seeking_advice_homeowner_IL

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

NB
newbie_business_owner_GA

Have you tried reaching out to your state's attorney general? They sometimes have free resources or mediation services.

NH
need_help_seller_NC

Have you tried reaching out to your state's labor board? They sometimes have free resources or mediation services.

WD
worried_driver_2023

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

NH
need_help_contractor_FL

Have you tried reaching out to your state's attorney general? They sometimes have free resources or mediation services.

JC
just_curious_homeowner_2024

NAL, but from what I've read, you should file a complaint. That said, definitely get a lawyer to look at the specifics.

WR
worried_renter_MA

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

CA
ConsumerAdvocate

I've seen this play out several times in my field.

The biggest mistake people make in this situation is hiring an attorney to send the initial letter. I'd recommend being patient with the process instead.

NR
newbie_renter_advice

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

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