Legal Question in Business Law in Maryland

break a contract

a person I know was starting a business and after putting almost half a million dollars into it 'sold' it for no return of their investment. I think they should filed bankruptcy and listed themselves as a creditor. The person had been recently diagnosed with cancer, had marital problems and was broke and seeing a psychiatrist by the time they signed the contract. They received no money for selling the business opportunity which was only lacking funding for 2 pieces of equipment to open the doors and make money. What would they have to do to break the contract? Competancy? Any other ideas?


Asked on 2/13/09, 3:47 pm

1 Answer from Attorneys
Denese Dominguez Law Office of Denese Dominguez, LLC

Re: break a contract

Without more facts -- in particular, the reason this person "sold" the business and to whom -- there is no real way to provide an answer. Also, if this person wants to break the contract, they should speak with an attorney to look at the contract and the surrounding circumstances.

Read more
Answered on 2/13/09, 5:14 pm


Related Questions & Answers

More Business Law questions and answers in Maryland