Legal Question in Credit and Debt Law in Michigan

Reimbursement of initial investment

In October 1993 I lent $11k to somebody to produce, market and distribute a card game. An agreement was signed saying she had to pay me back my initial investment over the next 10 years and was supposed to also pay me a percentage of her profit. Couple of years later she called me back asking for more money and told me she didn't have enough money to get the card going!!! I had no more money to invest !!! The agreement was signed under her corporation name and individual name. I made some online research and found out that since 1999 she has a website where she sells the deck of card (she changed the name of the deck, but the purpose is still the same) and probably changed the name of the company. Do I have a claim?


Asked on 9/23/06, 5:02 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: Reimbursement of initial investment

It would appear your Statute of Limitations has not run.

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Answered on 9/23/06, 5:08 pm


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