Legal Question in Business Law in Ohio
Hi, we recently paid a small business $1,350 as a down payment on a fence to be built. We recently received a letter from an attorneys office stating this business has ceased operations and that our refund isn't guaranteed back to us. What can we do to get our money back?
1 Answer from Attorneys
As a Franchise Attorney I can advise the following. Just because a business has ceased operations, that's no excuse not to pay back down payments they've collected. I assume the business is a licensed contractor, which they would need to be in order to do this type of work. Typically a licensed contractor is required to post a bond with your state's contractor licensing board to insure performance. You should file a claim with the bonding (insurance) company for the amount of your down payment as soon as possible. You should also show the fence contract and the attorney letter to a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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