Legal Question in Business Law in Arizona

verbal agreements

After several months of preparing a business with 2 other people and verbal agreements of how things would be run, who would do what and where the profits would go, I was left out in the cold. The two other people decided at the very last minute that I was no longer a part of the equation. I put in time and money to this business. Can they really get away with that?


Asked on 2/27/07, 12:45 pm

1 Answer from Attorneys
James Jenkins Jenkins Law Center PLC

Re: verbal agreements

You could sue on the verbal partnership agreement, but would have to prove the terms by evidence that outweighs their evidence and statements. And if you win, you get a share of a partnership, that you would ask for a dissolution of to divide the assets, so what that would benefit youi s hard to say.

If you contributed funds you could possibly get your money back.

Let all who read this, whether in a business or real estate deal, learn the first three rules of contracts:

1. Get it in writing.

2. Get it in writing.

3. Get it in writing.

I hope you are able to salvage something from this situation.

Best regards,

James D. Jenkins

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Answered on 2/28/07, 12:05 pm


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