Legal Question in Business Law in Nevada

my husband and another man just recently signed a contract for the other man to buy a major percentage of my husband's company. They signed documents, and I believe the loan closed but has not yet been funded. Today the other man backed out of the deal completely and left my husband hanging in many areas, particularly financial issues. This is all done in Nevada. What should his next step be and does he have a potential case for breach of contract?

Asked on 9/15/09, 12:47 am

2 Answers from Attorneys

Paul Malikowski Malikowski Law Offices, Ltd.
0 users found helpful
0 attorneys agreed

Potential, yes. If the contract was conditioned on the loan funding, perhaps no. Your attorney can advise further.

Read more
9/20/09, 2:57 am
0 users found helpful
0 attorneys agreed

Your husband (or his company) is entited to the benefit of his bargain. If he didn't get it, he might have a viable claim for damages.

Read more
9/20/09, 11:40 am

Related Questions & Answers

More Business Law questions and answers in Nevada

Looking for something else?

Get Free Legal Advice

88273 active attorneys ready to answer your legal questions today.

Business Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Michael E. HendricksonAttorney & Counsellor at LawAlexandria,
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now