Legal Question in Investment Law in Michigan

Bad Investment

I made a $3K investment with another loan officer on a property. the agreement was for me to put money dwn and he take care of repairs resale for a 30K profit that we would split. The initial property that is in writing didn't go through so he went for another property (not in writing) Its been 5 months and he won't return calls. Can i sue him for the profit I was suppose to recieve?

Asked on 10/31/03, 12:56 pm

1 Answer from Attorneys

Volker Hirsch RA Hirsch

Re: Bad Investment

I do not know about the law in your state but a return of 1,000% would look funny to most people. I would expect that, in Europe, courts would be reluctant to enforce it.

Not returning your calls and not paying anything in return, however, should surely enable you to claims at least for the return of your invested money. The details will, however, depend on the documents or, if absent, on the other proof you may be able to bring. You will need a lawyer from your state to validate any claims. This is impossible to answer comprehensively in such a forum.

Good luck!

Kind regards,

Volker Hirsch

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Answered on 10/31/03, 1:06 pm

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