Legal Question in Business Law in Florida

Business Dispute

In the absence of any written contract or agreement regarding payback of a debt, does one business owner have any recourse in obtaiining the assets of another company?


Asked on 9/26/07, 5:12 am

1 Answer from Attorneys

Scott R. Jay Law Offices of Scott R. Jay

Re: Business Dispute

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

If there is an oral agreement to pay back the debt within one year, then it should be enforceable. Of course, it may turn out to be he said/she said and a judge will have to decide which party is more credible. Any materials which would help prove the case will be viewed by the court such as a check used to make the loan, checks used to make partial repayments, etc. and can help prove the case.

Scott R. Jay, Esq.

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Answered on 9/26/07, 10:16 am


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