Legal Question in Business Law in California

I'm trying to buy a business for over year now. So far, the seller has my money that I deposited, he is also a lawyer, but the contract has expired. Until this day,he keeps delaying the process, I never gotten the money nor the business. I called him many times, but he keeps telling me that he's trying to get a loan, meeting people, corporation because he's financing the rest of the money. I don't know what to do, does this sound legit? Any advice is appreciated.

Thank you for your help


Asked on 1/20/10, 10:53 pm

3 Answers from Attorneys

Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

He has dissipated the money, and he is running out the clock hoping you will allow the statute of limitations to expire.

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Answered on 1/25/10, 11:24 pm
Daniel Bakondi The Law Office of Daniel Bakondi

It sounds like you need legal representation, or else the seller will continue to dictate terms until your time to act runs out. This attorney knows you are at a severe disadvantage unless you are represented by an attorney yourself. He may never get the things he is waiting for. He is not going to give you the money back unless he has to. In the very least, we have to make sure your time doesnt run out by properly confirming the continuation of the relationship. Or, we must demand your money back, perhaps unless the deal goes through by a specified time. If you demand your money back without an attorney, he will not take you seriously. Also, any mistake you make can be used against you. I can help you with this if you want to call my office for a free consultation. You need to act.

Best,

Daniel Bakondi, Esq. [email protected] 415-450-0424

NOTICE: No attorney-client nor confidential relationship is created through this communication. Nothing communicated or provided constitutes legal advice nor a legal opinion unless it so specifies and written agreement for attorney services has been entered into. Your issue may be time sensitive and may result in loss of rights if you do not act in time. Thank you.

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Answered on 1/25/10, 11:32 pm
Jonathan Reich De Castro, West, Chodorow, Glickfeld & Nass, Inc.

It sounds like you need to sue him to get his attention. You need to do this before the statute of limitations expires. Generally you have between two and four years but I would not delay any longer. Suing him will get his attention and get the matter resolved.

Jon Reich

No attorney-client nor confidential relationship is created through this communication. Nothing communicated or provided constitutes legal advice nor a legal opinion unless it so specifies and written agreement for attorney services has been entered into. Your issue may be time sensitive and may result in loss of rights if you do not act in time. Thank you.

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Answered on 1/26/10, 9:26 am


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