Legal Question in Business Law in Utah
We are partners in a buisness. The guy who owned the land we put the building on said he would just put up the land and so we put it in the buisness name. well now he has come back and wants all the money for the land plus 8% intrest. If we go to court we will have to give him 10% intrest. What can we do legally? We didn't sign saying we would pay for the land. We would of put the buisness in a better area if we would have know we had to pay intrest anyway. Please help
Asked on 3/23/11, 9:37 am
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Your answer cannot be given without knowing the terms of your business arrangement, including whether the property was titled in the name of the business.
You may call for a free 15 min consultation.
Answered on 3/23/11, 10:25 am
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