Legal Question in Business Law in Ohio

My ex-brother inlaw and I started a business last year and registared with the state. We have an articals of operations aggreement wich states that we both have a five thousand dolar investment in the company. However nether of us signed this agrement. Futhermore we verbal agreed that my five thousand dolar investment would come from a five thousand dolar debt that he owed me. We used the money to buy equipment for the business. He has since decided that we should no longer be in business together and has takin all the equipment and has had no comunication with me on repaying the debt or splitting the equipment. Since the was no written contract is there legaly anything I can do to recover the money or my sahre of the equipment?


Asked on 7/07/10, 3:52 am

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will say you can still sue your ex-brother-in-law for breach of contract, etc. The questions are: (a) how much will this cost in the end; (b) will he have assets to pay, if you win; and (c) what will this do to your relationship with him. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 7/07/10, 7:17 am


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