Legal Question in Business Law in Philippines

i have a restaurant business partner gone bad. I decided to back out of the project because he took control over the project and so i decided to back out. the problem is i asked my money put in but he refused to return it. can i sue him in court? we do not any business contract just verbal agreements. i have proof of receipts of bank transfer to his bank account. please advise. thank you for your time.

VTY.

Dana


Asked on 7/25/09, 1:42 am

1 Answer from Attorneys

in answer to your legal query, first a contract may be entered orally or in writing. In your case, even if no contract in writing was made, the fact that you agreed to enter into a business venture, the partnership existed from the start and as evidenced according to you by a money transfer, all the more that you cannot deny such contractual relation. However, you can proceed against your partner should you find out later the real reason why the business went ugly, it could perhaps be that your partner is squandering actually your money instead of spending it to improve further the business. This is something that you need to investigate first get to the bottom of what really had cause why the business went bad.

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Answered on 7/25/09, 3:15 am


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