Legal Question in Business Law in Colorado

My friends owned and operated a successful small bakery and grocery store. They spoke with a national chain, who told them for $580,000, they would build a store and fully stock it for them. My friends sold their bakery and grocery store and purchased a lot on which the chain was to build the store. Then they were told that the price had gone up to $650,000. They borrowed the extra money from relatives but then they were informed that the cost would be $690,000. Negotiations broke off. Could my friends sue? Who would win and why?

Asked on 8/15/17, 9:45 pm

1 Answer from Attorneys

Robert Murillo Pivotal Legal Ltd.

As the saying accurately goes, you can sue anyone for anything. What matters is whether you have a good case. Here, the only way any attorney can know if they have a good case is by review of all the documents and getting much more information.

Essentially, it depends. If the discussions could be construed as a binding contract, they have a good case. Even if not construed as a contract, if the facts indicate this is a matter of promissory estoppel, then they could have a good case. In short, your friends need to contact a lawsuit attorney and they need legal advice.

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Answered on 8/16/17, 5:09 am

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