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What is my best route to collect money owed to me.

1 Answers. Asked on Jan 13th, 2014 on Breach of Contract - Florida
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I invested $10,000.00 into a business with a notarized contract stating that if he defaults he is responsible for all legal fees. I have been trying to get my money back for over a year now with very little success. Do I sue for the money or put liens on his assets. I'm not sure what route to take in this matter.
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Answered on Jan 13th, 2014 at 1:04 PM

Sounds like you’ve got a breach of contract on your hands.  However, you can’t just go putting liens on property.  You’ll need to sue (unless the contract specifies arbitration or a mediation first) in county court.  Of course, I don’t have all of the facts so I can’t say with any confidence the strength of your case.  That said, the contract is the key here.  I would say it is time to sit down with a business litigation attorney to review the contracts and discuss all of the facts.  With that, the attorney will be able to give you a better idea of the nature and strength of a potential suit as well as the process and potential costs.  Also, you mention that the contract specifies that in a default (breach), the business (or the personal guarantor) is obligated to pay legal fees.  This means that if you are successful in obtaining a judgment, the Court will award you legal fees in addition to the $10,000.  From there, you will have to take the necessary steps to turn the judgment into payment.

This answer is intended for general information purposes only and does not create an attorney-client relationship.

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Breach of Contract
A contract is a legally enforceable agreement between two parties. When you enter into a contract, you do it in good faith and expecting that the other party will meet its legal obligations. But if that fails to occur, you or your business may have grounds for a breach of contract lawsuit against the other party. If successful, you may be awarded damages, or compensation for your losses and expenses in connection with the breached contract. The court can also rescind the contract or order the party that breached the contract to fulfill its obligations. If you're party to a breached contract--whether you've been accused of a breach or are trying to compel the other side to perform its duties--you need to hire an attorney who has experience with personal, professional and/or commercial contractual disputes.
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