Legal Question in Business Law in Indiana
Fraud or not
Our co. entered into a verbal agreement w/another co. with the intent to open a new business. Upon good faith we agreed to perform services with our existing clients (in the amount of 70k) with the use of the other co.'s credit to buy product. POs were in both company names. The other co. kicked us off the job and recruited our employees and our customers. Other company never paid us for services rendered. Now our business is looking at bankruptcy. What type of legal recourse do we have?
1 Answer from Attorneys
Re: Fraud or not
Questions of fraud are very situation-specific. In general, if there were an agreement which was fully performed by one side, then the agreement could be enforceable, even if not in writing. So you may have an enforceable contract claim. Fraud, in the sense that someone tricked you into doing something, must also involve something to the bad guy's benefit and your detriment. And the evidence needs to be very convincing. There may be some other unfair business practice claims. Bottom line, though, is that this will require an in depth consultation with a lawyer. Contact your county bar association for a referral if you need one. Ask for someone with business litigation experience.
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