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Investment contracts?

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pyrotalk

Junior Member
What is the name of your state? NJ

Hi, Two questions:

-I like to know how does the court sees/perceives investment contracts. I was supposed to make money out of this investment deal but he has failed to give me back any revenues and in top of that; he doesnt care to pay me back my inital investment deposit. Can I sue for my deposit + revenues that was written in the contract?

- Is there a time period limit for suing? after the date the contract was signed. Meaning Can i sue him after 1 year??

thanks
 


JETX

Senior Member
pyrotalk said:
-I like to know how does the court sees/perceives investment contracts. I was supposed to make money out of this investment deal but he has failed to give me back any revenues and in top of that; he doesnt care to pay me back my inital investment deposit. Can I sue for my deposit + revenues that was written in the contract?
They see investments as just that. A toss of the dice for a hopefull payback.
Of course you can sue, but since this was clearly an investment (by your own admission), there is NO guarantee or promise of ANY return or recovery of any funds paid.
Simply, you 'invested' your money hoping for a payback. You didn't get it. Take the loss on your income tax and learn that an investment is NOT a loan.

Is there a time period limit for suing? after the date the contract was signed. Meaning Can i sue him after 1 year??
Yep. Called a SOL (Statute of Limitations).
 

pyrotalk

Junior Member
NJ

Yes, I invested my money for some payback, no matter how small it is. But I expect that my initial deposit should be returned ....For example, mutual funds, muni bods, those are solid investments that do not jeopardize/touch the initial deposit...........
What about the contract paper both parties signed. It clearly states that i will get my deposit back anytime I cancel..........
I really dont know what to call this deal.....He sells the merchandise and I will get part of his commision. His salary fluctuates according to the number of sales.......
I am sure that with real proofs, copy of the check i payed him and sales docs (will ask court to get it from him) that he's doing well and selling all the merchandise; I can have a real case....
 

JETX

Senior Member
pyrotalk said:
Yes, I invested my money for some payback, no matter how small it is. But I expect that my initial deposit should be returned ....For example, mutual funds, muni bods, those are solid investments that do not jeopardize/touch the initial deposit...........
But this isn't a mutual fund, municipal bond, or solid investment'!!
There are LOTS of investments that return NOTHING!!
Like stocks/bonds in company's that declare bankruptcy or are otherwise dissolved. Or put/call options. Or margin futures. Or.....

What about the contract paper both parties signed. It clearly states that i will get my deposit back anytime I cancel..........
Gee, this is the first you have mentioned a 'contract'. Don't you think that might have been important to know??
Anyways..... I doubt that this contract is worth the paper it is printed on.... and if it is, then this is NOT an investment!!

I really dont know what to call this deal.....He sells the merchandise and I will get part of his commision. His salary fluctuates according to the number of sales.......
Sounds to me like a loan. You loaned him the money to purchase merchandise, he pays back a percentage of each sale.

I am sure that with real proofs, copy of the check i payed him and sales docs (will ask court to get it from him) that he's doing well and selling all the merchandise; I can have a real case....
Then by all means, file your lawsuit. :rolleyes:
 

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