How to make a business partner pay what he owes?
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How to make a business partner pay what he owes?
My fiance’s father convinced him to start flipping houses with him. However, his father had terrible credit so he used my fianc’s name to take out a bunch of credit cards. He promised my fiance he would make payment every month as well as pay them back fully when the house sold. Now we are stuck. He never made payments on the credit card and now the house has sold he is avoiding us. How can we make him pay back what he owes us?
Asked on March 7, 2017 under Real Estate Law, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
You would sue him for breach of contract; that is, for violating his agreement (whether written or oral, though your case will be easier with something in writing--even emails or text messages--from him acknowledging his obligation) to repay the money and carry the monthly payments. A lawsuit is the only way to get the money from if he will not voluntarily pay.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
You would sue him for breach of contract; that is, for violating his agreement (whether written or oral, though your case will be easier with something in writing--even emails or text messages--from him acknowledging his obligation) to repay the money and carry the monthly payments. A lawsuit is the only way to get the money from if he will not voluntarily pay.
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