say, someone has paid a deposit down to take over a running business, and then the day before transaction, they somehow find out that the business has been closed down and all the stuff inside removed, it was meant to be handed over as a running bussiness…so it looks like the shop owners were planning on taking the money and running…and leaving nothing inside the shop…and no running business…
the solictor says as your the party that has backed out of the deal now, you cannot getr your deposit back…how true is this, knowing that the reason you backd out was because they were being fraudelen t and not handing over the business as said/contracted?
BUSINess is a food place, a small fast food joint i think.
I hope everything is written in the agreement between both the parties . If this is the case then you can report theft . Which is true because you also paid for all the stuff inside the shop and now its gone .
thing is, because they pulled out early from the deal, because it was obvious that the guys were planning on taking the money and running, they pulld out of deal early, and the next day once the guys found out that the deal had been off, they put all the samaannn back into the shop. so how can anyone prove that it was gone in the first placew?? get me?
IT WAS by luck that one of the guys involved in the deal was walking past the shop, and saw the closed sign,( as in closed for good) and all the stuff taken and so on.
he then informed everyone.
the next day the equipment and stuff is magically back into the shop and its running again...because they backed out of the deal and so the fraudsters quickly moved everything back in....
Tough one.Only in case of default buyer get money back otherwise its really hard.And most of the time it is written in agreement. Or you can also file a suit against them and prove that they were fraud mental then may be you get your money back.
The conditions of sale had to exist in the agreement. It would also have included a list of all materials that were to be included (i.e. equipment, inventory, supplies etc.)
If the space was found to be vacated and a "closing down" sign posted on the store-front then a photo should have been taken and the vendors contacted immediately through the lawyer.
In order to back out of the deal using intent to commit fraud and violate the terms of the agreement on the vendor's side as a valid reason you need some evidence. If you failed to collect that evidence then you don't have a leg to stand on.
At least that is what I can deduce based on the information that you have provided.
Perhaps someone with a background in law can further clarify or correct what I am suggesting.
