Legal Question in Business Law in Ohio
Is a check a legal document?
I have invested $10,000 in a pro-basketball team. The GM refuses to give me anything in writing pertaining to my ownership of the team. We do not see eye to eye on team related issues and I would like out of the ownership group. Can he keep me 'locked in' to this team although I do not wish to go on? All I have is the check that I wrote to him that states on the bottom that I own 2% of the team. He claims I own 5%. I was promised a salary. Now he claims that if I do not receive a salary that there is more money to divide up at the end. There is another man involved that is above our GM and I have yet to speak to him regarding my wish to get out of the group. Do I have a chance to get my money back? Please get back to me... Jim
1 Answer from Attorneys
Re: Is a check a legal document?
You have enough to be vested in the team, but getting out will be tough. You can at least pursue your rights of either 2-5%.
Call me directly:
Joe Jacobs
216-952-1990 / 216-227-0900
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