Legal Question in Business Law in Massachusetts

Re: business purchase

Complain to the Board of Bar Overseers and let them investigate the issue. (They are in charge of attorney discipline in MA). Best wishes,

LDWG

: business purchase

I agree. You can reach a bar counsel on Friday between 2-4 p.m. Call (617) 728.8700. When you call ask to speak to the bar counsel on duty.

You can also file an action seeking financial and equitable damages against this person.

Should you have any further questions, contact me.

Re: business purchase

http://www.mass.gov/obcbbo/

Above is the web site of the Massachusetts Board of Bar Overseers. They supervise and investigate lawyer misconduct. Visit their site to learn of your rights.

We handle business transactions for savvy clients.

The Law Office of Warren E. Wood

Email: [email protected]

Re: business purchase

Apart from complaining to the Board of Bar Overseers, I would suggest you send a 93A letter to the Seller and his attorney. This is the MA deceptive practices act. You demand the return of the $10,000 and if you do not get it, file suit seeking treble damages and attorney's fees.

The attorney is acting as an escrow agent his only excuse for not returning the fees is because his client has not agreed to their return.

However, you should consult with your current attorney or a different attorney to review the documents you signed to see what the attorney's role was with respect to the $10,000.

Re: business purchase

Before you complain to the Board of Bar Overseers, you may wish to speak with an attorney. Generally, it is a wise idea to use an attorney if you are purchasing a business, because there are a lot of issues which can arise, and it makes sense to protect yourself against problems which not only occur prior to closing, but after closing as well.

As far as holding the deposit, it would make sense to review the P&S and the facts and circumstances with an attorney prior to taking it to the BBO.

Other attorneys have noted that you may have a claim under 93A (Unfair Trade Practices - requires answer within 30 days), provided of course that you can prove facts and circumstances which justify the return of your deposit by the attorney, as opposed to any right of the Seller to retain the deposit under the P&S. 93A provides for attorney's fees under certain circumstances.

Good luck.