Can I try to get my money back for a business that I bought 2 months ago, no contract was signed
Houston, TX
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Posted about 1 year ago in Contracts / Agreements
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Giving Up buy to business:
Two months ago I bought a businees and Paid $10000 and we did not sign contract. Right now I give up to business and I want my money back what can I do?
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Answers (2)Simon Jenner
This attorney is licensed in Georgia and 1 other state.
Posted about 1 year ago.
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You have provided few facts on which to base a response. But as a general rule, contracts do not need to be in writing to be final and binding, and a court will likely uphold the purchase absent fraud or mutual mistake.
If you purchased the business based upon the seller's fraudulent misrepresentation, you may have a right to damages. But you will need to show that you reasonably relied on the misrepresentation to succeed. A failure to properly and fully review the books and other aspects of the business may damage a fraud claim. Of course, absent fraud, you may demand damages for breach of contract, if you can adequately document the provisions that were violated. You may also seek rescission of the contract (i.e., the contract is unwound and both parties returned to the state they were in before the purchase). Rescission can also be accomplished by agreement, if the other party is willing to retake possession of the business. Scot Dale Goldberg
This attorney is licensed in Florida.
Posted 9 months ago.
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Without more facts it would be difficult to answer. However, just becuase you do not have a written contract does not mean that you did not enter into an oral contact. If you were someway mislead or deceived into buying into this buisness you will have a cause of action. You need to find an attorney in your area to help you fluch all of the issues out.
The above information is provided for discussion purposes only. I believe in helping people and answering their questions and providing information and solutions. To encourage and facilitate this practice, it is understood and agreed by the recipient that by opening, reading and viewing this information, no attorney-client relationship has been discussed, agreed to or otherwise established. In legal matters, time is of the essence. As such, you should contact an experienced lawyer right away to protect your legal rights! Scot Goldberg |