Legal Question in Business Law in Ohio

False statements prior to signing a contract

I purchased a small restaurant with a substantial down payment and made payment arrangements with the seller at 8% interest. I was informed in front of witnesses that the contract was drawn up by an attorney. The seller had in the contract that no equipment was to be sold until full payment had been made. However, a large expensive piece of equipment broke after only a couple uses and I was told that it was because of continued misuse. I at that time had to sell the equipment in order to buy replacement equipment.

The seller has contacted me stating that she wants the money that I was given for the equipment and told the buyer that I sold her equipment and it was not mine to sell.

I have since found out that the contract WAS NOT drawn up by an attorney as I was previously informed by her.

Do I have any legal recourse? If she tries to take me to court am I able to get out of the contract with her repaying the down payment to me since she falsly told be who wrote the contract?


Asked on 11/08/04, 11:47 am

1 Answer from Attorneys
Harold Hom Harold L. Hom Co., LPA

Re: False statements prior to signing a contract

The fact that the contract was not drawn up by an attorney is irrelevant to this situation. If she had an attorney draft the contract, then that attorney must represent her interest and not yours. The written contract is all that matters. If the contract says that you are purchasing the property "AS IS", then you probably have no recourse. You should have used an attorney who represents you to review the contract before you signed and have him ask you the hard questions. At this point, you should have an attorney review the contract and tell you what remedies, if any, you may have.

Read more
Answered on 11/08/04, 1:09 pm


Related Questions & Answers

More Business Law questions and answers in Ohio