Legal Question in Credit and Debt Law in California
I invested in a product I have a written contract with the person. He invented a product which is patent. He ask me to invest as a partner for the initial $1200 for more prototypes and he will give me this back in 8 months. It's been 15 months and no money. As an investor I am to receive 10% of all profits as well. He is evasive and now won't return my calls. How can I sue him and collect my initial 1200 plus my future profits? The courthouse gave me a small claim packet. Is it true if I sue in small claims I can't collect my future profits?
Asked on 5/18/12, 1:02 am
1 Answer from Attorneys
Yes it is true. And even if you could, you would be limited to the small claims jurisdictional amount, which as of January 1 this year went up, but is still only $10,000.00
Answered on 5/18/12, 1:56 pm
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