Legal Question in Real Estate Law in California
I did a company stock trade for data storage hardware agreement with a start up company based out of Los Angeles back in May of 2005. I was supposed to be issued stock certificates within 60days of the equipment being installed, it has been over four and a half years and have not received anything from the company. The company is still running today but the President keeps putting me off. Do I have the right to collect the original value of the equipment from him plus some kind of interest. I do not think he ever intends on honoring our agreement. I have all the original email conversations we had and a copy of the original agreement.
3 Answers from Attorneys
You probably have waited too long. The statute of limitations on breach of a written contract is four years. There are various things the president of the company may have done that would extend the time, but the only way to know would be to hire a lawyer, give them all the facts and have them research whether there is some theory under which the time limit was extended. If you do still have the right to take legal action, you don't have much time. So you should do something about it NOW.
You can try, but you need to realize there are statutes of limitations on all legal claims. Maybe the continuing correspondence could by argued to extend that time limit. If serious about pursuing this, feel free to contact me.
I concur that there are time limits to contracts, however, fraus may be an option because the statute begins to run when you learn of the fraud. We are based in Los Angeles and may be able to assist you.
If you would like to discuss this matter further in a more private forum, as I do need some more information to discuss this matter with my associates, please feel free to contact me directly at the email address provided by LawGuru or through our firm�s website located at RulesofEmployment.com
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