Legal Question in Business Law in Florida
I took a promisary note on a business after doing a bridge loan.
awaiting the SBA loan to be approved and finalized. He was approved for the loan.
He decided not to go through with the sba loan and gave me back the keys to the
store and walked out. He left owing the corp. franchise royalities,my franchise was lost when we did the bridge settlement. He is still responsible for the rent.
and any other money he owes.I do have a ucc lean against the equipment.
What can I do to re coup my business money that I lost and the balance of the promisary note?
1 Answer from Attorneys
In order to answer your question I would have to review the documents you have described to determine what remedy you have according to the contract. If he breached the contract you generally can sue him for the amount of your losses due to his actions. If you would like my assistance e-mail me your phone number to discuss this further. In our discussion, I can provide you a fax number to fax the documents to me for review.
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