If I bought furniture and a computer for a friend’s company to use, can I legally take it back?

UPDATED: Oct 29, 2011

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If I bought furniture and a computer for a friend’s company to use, can I legally take it back?

Do I need to give them the client info on computer?

Asked on October 29, 2011 under Business Law, South Carolina


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

There are four possibilities here:

1) If the furniture and the computer was a gift to the friend or his/her company, you have no right to take them back and no entitlement to anything. Gifts, once given, belong to the recipient, and the giver has no claim on them.

2) If you bought the goods as an investment in the company (e.g. to buy in, instead of providing cash), then you can't simply take them back--but are entitled to whatever share of revenues, etc. that you would get for the investment you made.

3) If you in essence bought the goods as a

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