Legal Question in Business Law in District of Columbia

In 1998 I had a business which I agreed to sale to employees in return for $15,000 for 5 years. To date,no payment has been received. This was a handshake agreement. At this point am I

able to take back the business for failure to following through with the agreement.


Asked on 1/15/12, 4:42 pm

1 Answer from Attorneys
Misty Wilks www.FinancialSolutionsLaw.com

This is a rather complicated issue and a lot more details will be needed to make an accurate assessment. For example there are several issues determine whether an oral contract is valid. There may be other avenues to consider - like 'detrimental reliance,' etc., Also, the statute of limitations Sounds like you saying it has been 14 years.

You need to contact a business lawyer.

Good luck

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Answered on 1/15/12, 6:32 pm


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