Legal Question in Business Law in Indiana

My husband and I were approached by a couple that wanted us to buy their venue/bar when my husband went there to rent it for a show earlier this year. We never put a lot of this into writing it was mostly a verbal agreement. We worked for close to two months and spent well over 50,000 to get this place to a point where it should be it was in bad shape and still needs more work. On our opening weekend (the first of July) there was a land hurricane and though we still had power and tried to still have our shows people didn't come out because they had too much to deal with at home... we lost our close to 15,000 that weekend between what we had to pay the bands and lost revenue from the door and liquer sales... that put us in a bad position and we quickly fell behind on the "mortgage" payments. The owners worked with us and my husband tried everything that he could to get the place going but we were still struggling but still giving them something every week (We never walked away with dime from the place, with all of the bills). 2 weeks ago we were approached by a couple of men that wanted to go in with us, giving us $30,000 and half of the profits. They told my husband it was a go that they wanted in. Then when it came time to pay for liquer orders last wednesday, they didn't return his calls and on Friday the owners called my husband and said he was done. The owners took it away from us and gave it to them. We were only allowed a short period of time to get a few things out and leave. There are still many of our things left there not to mention all the time and money that we put into the place. Do we have any reprocussion in this case?


Asked on 11/14/12, 4:56 am

1 Answer from Attorneys

Kenneth Wilk Rubino Ruman Crosmer & Polen

You have a complicated situation which cannot be adequately answered in this space. Your best bet is to consult with an attorney to see if you have any possible recourse for a partial refund, but it doesn't sound too promising.

Read more
Answered on 11/14/12, 5:12 pm


Related Questions & Answers

More Business Law questions and answers in Indiana