Legal Question in Business Law in Virginia

refund on downpayment for a business

I have made a downpayment of $50,000 back in May 08 to start a small business. It was made to a business owned by the broker. However, things didn't work out and I wanted to get my money back. It turns out the broker used my deposit but promised he will pay me back soon. The broker paid back $10,000 and used up $40,000 personally and still have not paid me back. He wrote me a check for $30,000 back in June but it turns out there is no sufficient funds in his account so I still have the check. Now I can't even get a hold of him as he is ignoring my calls so I need to find my options to get my money back. Please help!!!


Asked on 10/14/08, 11:25 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: refund on downpayment for a business

In order to have any chance of recovering this sum of money from this defaulting broker, you will need to retain an attorney who can file a complaint for judgment against this broker for the amount of your damages in the local circuit court.

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Answered on 10/14/08, 11:06 pm


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