Legal Question in Business Law in New York

You had better have either a written agreement or a witness to the transaction. Otherwise, it is your credibility against hers. If small claims court does not make you whole, you need an attorney to intiate an action on your behalf; you have to determine if it is worth the cost.

You most likely need to retain an attorney to at least send a demand letter to the seller and make it clear to them of the possible harsh consequences.

If a resolution is not achieved and if the amount still owed is significant then it would probably be worth your time and resources to direct the lawyer to commence legal proceedings (law suit). If the amount owed happens to be less than 5k, then small claims court would be the right place to get help.

Feel free to reach out to me for additional details.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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There are some fundamental issues here that need to be fleshed out. Was there a written business/asset purchase agreement in the first place? If so, then it controls. You cannot modify a written agreement with a verbal promise after the fact. That too will have to be reduced to a writing even if that writing was informal like and email or text message.

If what you are saying is that everything was verbal, then first let this be a lesson to anyone reading this that business transactions deserve to be in writing so misunderstandings are mitigated, than it will come down to credibility if you take this to court (he said vs she said).

As noted, if the amount in controversy is not much more than 5K your best bet would probably be the small claims court, but you may want to discuss it all over with a lawyer first before you do anything further.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.