Legal Question in Business Law in Texas

Business partner ran

My wife and I decided to go into a business with an in-law family member. We gave him $10,000 to start and he covered the rest. Apparently all of his assets were frozen and everything taken, including our $10,000. We never had a contract but I do have e-mail messages acknowledging the fact he owes us our money back and would pay it back in monthly payments. He has not paid our money back.

Is there any kind of legal action we can take against him?


Asked on 3/08/06, 10:06 pm

2 Answers from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Business partner ran

In addition to Mr. White's analysis, if that $10,000 was an investment rather than a loan, you may be blocked as trying to collect on a bad investment.

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Answered on 3/09/06, 9:16 am
Charles White Charles G. White

Re: Business partner ran

It seems that you will have good grounds to sue and get a judgment for the $10,000.00. However, I am somewhat puzzled as to why you believe that you will have greater success in unfreezing his assets than he had. Therefore, you may end up with an uncollectible judgment.

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Answered on 3/08/06, 11:02 pm


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