Here is what we sent them to attempt to settle the deal...with a short leash like you suggested. And we have the attorney preparing the law suit to be file by the 1st.Well it’s time to document a settlement agreement. I'm sure we both have our different views on what happened. Mackey's bought 50% undivided interest in 1,100 acres (550 acres) of the Farm from the Gossett's on April 26, 2011, and paid $250,000 as a down payment on Farm property and gave the Gossett's a $575,000 note for the balance, for a sales price of $1,500 per acre. The Gossett's sold the property on May 22, 2012, without the Mackey's knowledge or permission. Gossett's got all the cash at the sale closing, and all the benefits of a 5 year lease back of the Farm; so the Gossett's could farm the property or lease it to another party for $157,000 per year for 5 years for a total benefit of $785,000. The Mackey's best offer to the Gossett's is to get paid back the $400,000 they invested ($150,000 note and $250,000 down payment on the 550 acre Farm purchase). This payment of cash and/or property will need to be soon; our patience is running out, even for a life-long friendship. So if the Gossett's have any desire to settle this; we need an email reply. If the Gossett's are serious about settling, and not spending our hard earned money on lawyers and court costs over the next year, the Mackey's need an email response by this Friday the 20th.We need to know; how do you plan to repay us and when. The cash will need to be paid by August 1st, and everything else will need to be secured by property or assigning us payments you will receive.Mackey's
Country relating to Question: United States
State (if USA): Texas
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I think that looks good. Let me know what happens. Don't forget if you are forced to file a lawsuit to seek both actual damages plus punitive damages due to his fraud and bad faith. :)
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