California  |  Legal Ethics

Legal Question

Asked on: 6/28/13, 4:51 pm

I own video production co. for 18 years. I often work with partnering company, owned by afriend. Last year my friend bought two new cameras ($7500./each) to use conjointly on mutual projects and split the profits equally, under our "vocal agreement" that when I made enough money, I would purchase one of the two cameras from him. (mo monetary value set at the time). Now, a year later, I'm interested in purchasing one of the cameras. Has they're "used value" degraded? Should I pay the original $7500. price? Just to add a wrench into the mix, I can now purchase the exact camera new for $5500.

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

209 Answers given in the last few hours.

8662 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search