1. Do I entered into the contract
2. Were I stated in writing by and between the seller within the last four years indebted to the seller?
3. Was there a fraud of selling business
between a broker and the seller?
There were 4 people in initial offer as buyers (individual), which were A, B, C, and me. All of us signed a Business Purchase Agreement (BPA) and Joint Escrow Instructions as initial offer to purchase a company within produce business in January 2008. This was the only one document I signed for. I also wrote a check with $35,000.00 for deposit. The company was sold for $750,000.00, that was included $300,000.00 security loan in 2 yrs from the seller. The escrow was closed on June 2008.
One of buyers, person A, replaced my check with his check for the deposit and did all of communication and negotiations with the broker and the seller for the rest of the purchasing process. That were included counter offers, Addendums, Security Agreement, First Amendment of BPA, Promissory Note, Bill of Sale
, closing escrow and others.
The buyers were written as "person A, et al" or "person A's last name, et al" on all documents, but the signature of buyers only showed person A's signature on all documents, except the initial offer.
I did not authorize person A nor the power of attorney to any one. I were not in operation and decision-making of the new company, nor capital
I did not receive the copies of all documents either.
I were not relative to person A, even we have the same last name.
Now, the seller sued all of buyers and the new company for breach of contract and common counts of $300,000.00 plus interest accroding to the documents of "First Amendment of BPA" and "Promissory Note".