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Richard, Attorney
Category: Business Law
Satisfied Customers: 53698
Experience:  32 years of experience practicing law and a businessman.
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We are a commercial mortgage broker with a signed contract

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We are a commercial mortgage broker with a signed contract by our clients, a husband and wife who were purchasing a commercial building. They have been baulking on payment of the contract because the deal fell through. On that issue our contract is clear.

Our issue is the husband said he had never seen the contract, yet we had one signed by he and his wife. He advised us today that he was unaware that his wife had signed the contract in his behalf. He has not said whether the wife had a POA to sign or not. Is this an issue for him since the contract was entered into in good faith with bothe of their signatures? Does this give us any legal advantage since the terms we delivered upon were satisfied in the cotract?
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard replied 5 years ago.

Good evening. The signature actually helps you because it gives you a huge amount of leverage because in order to declare the contract invalid, the husband is going to have to throw the wife under the bus. In other words, if you sue to enforce the contract, the husband is either going to have to acknowledge that he signed it or his wife had his POA....otherwise, she is going to subject to criminal prosecution.



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