What is the name of your state (only U.S. law)? Texas
I have a power washing business, agreed to merge with a much larger company.
The contract says that upon the purchase of 30 percent of the shares we would merge. I paid for 25 percent of the shares. In the four months that I have worked with this other company, I have yet to see the financial reports. The communication is horrible, ie. voice message may never be returned, email might be two weeks, text when they feel like it.
Since I did not purchase 30 percent of the shares, I assume that I have not merged yet. I have made known my intent to separate and have asked for my money back. I have only been able to get an answer once, and that was, "sorry we don't have the money available."
My question is two parts: Since the contract states that UPON purchase of 30 percent of the share we will merge, and I have only bought 25 percent, common sense tells me we never merged. Legally would that be correct?
Secondly, what recourse would I have to recover the money I invested with this company? They do have equipment I would gladly take in exchange. They are a corporation would I be able to place a lien on their house? business? equipment?
Thanks for any help.What is the name of your state (only U.S. law)?
I have a power washing business, agreed to merge with a much larger company.
The contract says that upon the purchase of 30 percent of the shares we would merge. I paid for 25 percent of the shares. In the four months that I have worked with this other company, I have yet to see the financial reports. The communication is horrible, ie. voice message may never be returned, email might be two weeks, text when they feel like it.
Since I did not purchase 30 percent of the shares, I assume that I have not merged yet. I have made known my intent to separate and have asked for my money back. I have only been able to get an answer once, and that was, "sorry we don't have the money available."
My question is two parts: Since the contract states that UPON purchase of 30 percent of the share we will merge, and I have only bought 25 percent, common sense tells me we never merged. Legally would that be correct?
Secondly, what recourse would I have to recover the money I invested with this company? They do have equipment I would gladly take in exchange. They are a corporation would I be able to place a lien on their house? business? equipment?
Thanks for any help.What is the name of your state (only U.S. law)?
