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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10648
Experience:  30 years of corporate, litigation and international law
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my business partner gave a contract to our EX parters to buy

Resolved Question:

my business partner gave a contract to our EX parters to buy them out. they changed the contract without knowledge to us and we signed it . we would have never signed the contract with this change. is this legal what they did. we are in a bankruptcy process and they have personal guarantess on the loan originally and made us liable for them in the contract change.
Submitted: 8 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 8 years ago.

They cannot change the contract without notifying you that they made the change. However, this will require a lawsuit to prove your position. They will probably claim that they told you of the change before you signed. However, if the contract was modified as you state and can prove it, the contract will be void. They would then have to account to the company for the value of the contract they received and become equity owners of the company as they were prior to the contract.


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