Legal Question in Business Law in Florida

Hostile take over of a business and a force sale out is it legal?

I sold out my buisness becouse my partners (husband and wife) took total control of it. They have hide the books from me and did'nt gave me access to my place.

I was the investor and they where working with me runing the office mostly clients on the phone A LIMOUSINE & CAR SERVICE I was out driving.After fighting alot,They decided

to pay me x amount of money a week to stay out.

Later on the stop paying me claiming there is no money to pay me,they did not let me see the books or enter the place

I sold out with no money down only payment of same weekly payment as before.I never knew what I sold can I still go back and find out what I sold and what it's worth?


Asked on 1/04/04, 12:13 pm

3 Answers from Attorneys
Darren Inverso Norton, Hammersley, Lopez & Skokos, P.A.

Re: Hostile take over of a business and a force sale out is it legal?

The buyout of your interest is most likely binding and final unless it can be proven that that there was a fraud or intentional misrepresentation on the part of the other party. Please feel free to give me a call or email to discuss further.

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Answered on 1/05/04, 10:48 am
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: Hostile take over of a business and a force sale out is it legal?

As a shareholder you had the right to review the books and records of the corporation under Florida Statutes. Why you elected to let your former partners squeeze you out without a fight is unknown to me, but it appears you may have a problem undoing the final agreement you apparently accepted. You should seek an appointment with an attorney to discuss this matter in mored detail to learn whether you have any viable options at this point in time.

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Answered on 1/05/04, 8:27 pm
David Slater David P. Slater, Esq.

Re: Hostile take over of a business and a force sale out is it legal?

Not if you already agreed to the buyout.

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Answered on 1/04/04, 6:05 pm


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