LostinWisconsin
Junior Member
Wisconsin
The broker who handled the sale of my business was paid $40K for his work. He was also given $5K to hold in escrow for 3 months to cover any expenses for refunds due any previous customers. No refunds were given. The broker now claims he is not resposible for returning the escrow becasue he did not sign the purchase agreement. He is correct in that he did not sign the PA where the escrow is described. He did sign a contract to represent me however and did not do so by sending the escrow to the other party. The other oarty and I are now in civil litigation because he did not make ONE payment on the note to purchase my business. Do I have any recourse?
The broker who handled the sale of my business was paid $40K for his work. He was also given $5K to hold in escrow for 3 months to cover any expenses for refunds due any previous customers. No refunds were given. The broker now claims he is not resposible for returning the escrow becasue he did not sign the purchase agreement. He is correct in that he did not sign the PA where the escrow is described. He did sign a contract to represent me however and did not do so by sending the escrow to the other party. The other oarty and I are now in civil litigation because he did not make ONE payment on the note to purchase my business. Do I have any recourse?