How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TexLaw Your Own Question
TexLaw, Attorney
Category: Legal
Satisfied Customers: 4430
Experience:  Lead trial/International commercial attorney licensed 11 yrs
Type Your Legal Question Here...
TexLaw is online now
A new question is answered every 9 seconds

I have invested in a business in Florida, unfortunatly the

This answer was rated:

I have invested in a business in Florida, unfortunatly the business is not as described. I have spoken to our accountant who happens to be the accountant for the previous owners of the business their comment is "The restuarant never made any money" However tax returns and the business books show a very different storey. Would this transaction be deemed as fraud? Could I persue this through to recover some if not all of my investment?

Dave Florida

Thank you for your question.

It would appear that you have a facially valid claim for fraud in the inducement, which entitles you to the return of the money invested. The effectiveness of your claim will turn on the representations which were made to you that induced you into making the investment. It will also turn on what the contractual language of the agreements state regarding whether any representations were made or not. Finally, if you had the opportunity to do due diligence by inspecting the books prior to making the investment, you may face a challenge to your claim on that angle with an argument that you contributed to your own damages through this failure.

Given these challenges, and without knowing more or having access to all the documents, I would suggest going to a business attorney to consult further about a possible claim for fraud.

Please let me know if you wish to discuss this matter further and I wish you success in your endeavor.

TexLaw and other Legal Specialists are ready to help you
Customer: replied 4 years ago.

I will need a law firm that specialises in this field of work, where can i find a list of firms for me to make initial contact?

Generally, most firms have a web presence. So if you search Google (or a similar search engine) for "Business Lawyer" and the name of the location in Florida where the business is located, it should pull up lawyers that specialize in this sort of litigation. You can then peruse their websites to determine who you think looks like a good fit for you.

Another option is use or to search for an attorney who is recognized by these organizations, which generally list attorneys with good reputations.

The last option would be to contact the Florida State Bar and ask for a recommendation.

This is about as specific as I can get for you on this site as we are forbidden to offer specific referrals.

I wish you the best of luck,