I agreed to come to work for a small company in order to use my 20 years experience to "take it to the next level and more". We agreed to a beginning salary and percentage of net profits. He also agreed to pay for my health insurance and buy a CD each year end. Although he signed a Profit Sharing Program agreement, he has yet to show me the proof of the CD's bought the past 5 or 6 years. I discussed these agreements with my close friends in Memphis, including a leading attorney in the city. My friends and family were aware of the agreement. Now, 9 years later the company has grown from $600,000 a year to over $2.5 million and there has been no effort to honor the agreement.
Can I sue for breach of contract on all points if part of it was verbal? I have people who knew of the deal.
Construction / Development Lawyer
You may still have a claim depending on when the breach occurred. This is the type of case where you may have to sue first and then do some discovery to try and get more information to prove your case. It seems that a portion of the agreement was performed which would support your contentions. I would also need to know more about the profit sharing agreement to see what rights you have contained therein.
Securities Offerings Lawyer
The statute of limitations for an oral agreement is 4 years in Georgia; 6 for a written contract. What does the profit sharing program say? If any part of it was performed on over the years, you may have an action there. Otherwise, 9 years is just too long.
This response is for general purposes only, is not legal advice and does not constitute an attorney client relationship with the questioner.
Oral contracts are just as enforceable as written ones, but they're a lot harder to prove. Have you got any texts, emails, or witnesses that heard with their ears or saw with their own eyes (not heard from you) any details about this contract? Having witnesses you told about this helps, but you'd be surprised what people remember and don'r remember, and it's always dicey to rely on people's memories from long ago.
Don't wait any more, see a business litigator right away, because your statute of limitations is slipping away.
Disclaimer: I'm only licensed in CA. Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.