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.

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

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Answered on 9/20/09, 2:57 am

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.

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Answered on 9/20/09, 11:40 am

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