More details to this question:
I invested in a restaurant w my sister. I practically ran the business by myself for 2 yrs n never got paid cause we only made enough to pay the overhead, she was barely ever there. Now we sold the business and she wants to pay all of her upfront cost and leave me with nothing. What do u suggest I do since I only had an oral agreement with her.
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An oral agreement can still be considered a contract, though there may be difficulty in defining the terms. As an investor, you may be entitled to some of the income from the sale of the business.
This does not constitute legal advice and is given for informational purposes only. Before providing legal advice I would need to evaluate your situation more fully and research any additionally applicable law. If you would like to discuss your situation, please give my office a call to set up a free initial consultation.
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Answered on Mar 27th, 2013 at 1:21 PM