my parents and my aunt used to run a restaurant store together(both own the store),but then my parnets decided they don't want the store any more. my aunt wanted to keep the store and they wanted to buy the whole store and my aunt was supposed to pay them half of the store money that my parents pay for the store.. now it's been two years and they never pay back the money and i wondering if there is any law i can use aganst them. is there any law, paper i can get or anything i can do to get them to pay up for the restaurant that they never paid for the last two years.
p.s i am not close with my aunt at all.
thank you
2007-07-23 15:12:03 · 3 answers · asked by peipei91189 1 in Politics & Government ➔ Law & Ethics
What rights you have will depend upon the state in which you're living and the form of incorporation, if any, of the restaurant. You should consult a local attorney, rather than listening to people making unjustified assumptions here.
2007-07-23 15:21:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Sounds like the store was run as a partnership, in which case they all own it together.
If the aunt has not bought your parents out, they still own their share of the store, and still have full rights to do with it whatever they want.
If they want to sue, they can sue for breach of contract on the sale. Or they (or use as their appointed manager) can go into the store and start running it the way they want, until they are paid off.
2007-07-23 22:15:55 · answer #2 · answered by coragryph 7 · 0⤊ 0⤋
You say they both own(ed) the store. What does the Contract of Sale say about non-payment? Who owns the building? Who owns the equipment and furnishings? All of this should be in writing somewhere. Go look for it.
2007-07-23 22:20:59 · answer #3 · answered by bullwinkle 5 · 0⤊ 0⤋