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Category: Business Law
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Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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Im buying into a recorded label. I will be investing 18,000

Customer Question

I'm buying into a recorded label. I will be investing 18,000 dollars within an 4 month period for 33% of the company. I'm giving 11,000 up front and signing a contract to pay 1'750 dollars for 4 months. With a 7 day grace period to deposit money into the company's account. If i don't pay within that time I lost 5% of my shares. With that I have 120 day buy out period. If an investor comes to by me out i get double my investment. My partner thinks i sould just get what i invested at that time of the buy out. I Think I sould get the full 18,000 dollars times 2. Because i'm signing a contract to invest the 18,000 into the company. If I don't i lost percent in the company which means I lost money. I think it's legal for me to get the 36,000 if an investor comes to buy me out. What do u think?
Submitted: 1 year ago.
Category: Business Law
Expert:  MShore Law replied 1 year ago.
Thank you for the post, I am happy to assist you by answering your questions. Am I correct in understanding that your partner is proposing that you would not relaize any return on your investments, but would only receive your original investment back should the company be sold?
Customer: replied 1 year ago.
Relist: Inaccurate answer.
Expert:  MShore Law replied 1 year ago.
I'm sorry, we appear to be experiencing a miscommunication. I did not provide an answer, I asked a question to confirm my understanding of the facts. In turn, you replied that I submitted an inaccurate answer. Were you saying that my understanding of the facts is inaccurate? If yes, please identify which area I misunderstand.

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