a family member approached me regarding a business. They would invest it and I would provide the labor. They invested 200,000 into the business acct.everything was agreed verbally, nothing is on paper. we agreed to share profits and losses. Now they want their money back I agreed to make payments monthly onbehalf of the company to pay the amount they requested w/interest. but she wants me and my heirs to be personally liable incase something were to happen to the corporation (Inc). now she says you either sign the agreement that you are personally liable for or i am going to take you to court.!
what case does she have?? and what choices do I have???
Please help!!!
2007-03-14 06:53:24 · 1 answers · asked by Chica 1 in Business & Finance ➔ Personal Finance
If there's no written contract, then it might be difficult for her to get anything back from you.
I would recommend you hire a business attorney (not a divorce or criminal attorney; make sure they are a business attorney). It'll be well worth their fee so you won't lose out!
Best of luck!
2007-03-14 07:25:52 · answer #1 · answered by boo's mom 6 · 0⤊ 0⤋