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VIC How to Get Deposit for Business Back Under Commercial Law?

Discussion in 'Commercial Law Forum' started by Rodger, 28 May 2016.

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  1. Rodger

    Rodger Member

    28 May 2016
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    We were buying shoe a repair in the shopping centre, paid $10000 deposit, but the seller spoke to my conveyancing daughter. We asked for the deposit back as we didn't want to buy the business as we thought it's not viable. One of the specialists said as we were recommended by an accountant and to tell the accountant that she tricked us and to demand the deposit until certain date. If not, we will get a lawyer and contact a CPA.

    When we bought the business, we didn't get any official section 2 forms or something like that. We signed the business contract even though it was 2 people on contract but one signed and did not sign lease contract.

    Please help, I think seller said she doesn't want to talk to us as we were demanding it.
  2. Rod

    Rod Well-Known Member

    27 May 2014
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    Suspect you need some legal advice. Your post is hard to interpret and I think you need to sit in front of a lawyer with the documents and facts so they can work out your legal position.

    I assume you mean a section 52. You may have a way out of the contract if no section 52 was provided to you.

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