Can I sue a business partner that has stopped returning my phone calls?

Asked over 4 years ago - Catlettsburg, KY

I gave an LLC $50,000.00 and signed a letter of intent with one of the managers. The LOI cursorily outlined the character of our business relationship, with the understanding that a more complete contract would be forged and signed later. Well, the manager that signed the agreement didn't tell the other partner about the preexisting LOI, and, as a consequence, the other partner thought it was "generous assistance," or some kind of gift. Once he found out the money came with strings attached, he's stopped returning my phone calls or emails. I have a feeling he's trying to screw me and steal my money. I need to be able to go after him immediately; malfeasance? Intent to defraud? Conspiracy to defraud? Anything?

Tomorrow I intend to send him a registered letter demanding a response

Attorney answers (1)

  1. Kaiser Wahab

    Contributor Level 14

    Answered . Although I do not practice in KY, the situation you described is easily wrapped in a variety of causes of action that are common in many states. First and foremost, you should seek a consultation with a local attorney. From my estimation, you may be able to claim fraud in the inducement, breach of contract, conversion, and other claims. That being said, your first step is likely to engage an attorney to draft a demand letter seeking return of the monies, under threat of legal action. You may also want to assert personal liability against the partners on the basis of fraud in the letter and in a potential lawsuit.

    I hope this helps.

    Disclaimer: This answer is for informational purposes only and does not constitute general or specific legal advice, nor create an attorney client relationship.

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