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Asked in CO May 26, 2022 ,  0 answers

Earnest Money

My husband and I were going to buy a business. We gave the current owners an earnest money check that they were to hold on to until we closed, but we never signed a contract. The check was immediately deposited. We then got trained and found that this was extremely stressful, so we decided not to buy the business. Do we have a right to get that money back?

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1 Answers

Anonymous
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Posted on / Jun. 27, 2007 10:52:00

Re: Earnest Money

Morning,

What does the asset purchase agreement say? If no written agreement, what are the terms of the oral agreement as to the earnest money?

In short, there is no way to say without many more facts and (hopefully) the written agreement.

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