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reimbursement of expenses

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  • reimbursement of expenses

    I was negotiating buying into the business I am employed by. I paid over $30,000 of the companies expenses with the understanding that would be my buy-in. At this time I'm not sure we will be able to reach an agreement. If the deal doesn't go through, how can I get my $30,000 back?

  • #2
    If you put $30K of your own money into this business already, you better have had some type of contract or other legally binding agreement that anticipated this possibility.
    I don't respond to Private Messages unless the moderator specifically refers you to me for that purpose. Thank you.

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    • #3
      Do you have any type of agreement or contract at all?
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      • #4
        reimbursement of expenses

        Unfortunately, I don't have anything other than good faith. They have been dragging their feet for 18 months to finalize the agreement. Now I have the feeling they won't go through with the agreement as discussed and are looking for a way not to reimburse what I have invested. For accounting purposes, how would they have to show me paying their expenses?

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        • #5
          Without something in writing, you're going to have an uphill battle. Verbal "contracts" are possible, but it's going to depend on the circumstances and the laws in your state. You might want to get the advice of an attorney versed in business/contract law.
          I don't respond to Private Messages unless the moderator specifically refers you to me for that purpose. Thank you.

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