What constitutes a case for breach of contract?

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What constitutes a case for breach of contract?

I was offered a partnership in a professional services firm. One of the owners and I signed a offer letter stating that I would be offered 10% in the company on a date 4 years ago, then an additional 10% the following year. The offer was never made. Since then, they brought in an additional partner that subsequently quit and bought another firm all the while saying they would still honor our deal. Now they are going to sell the company to a larger firm. Do I have a case for breach of contract?

Asked on July 14, 2014 under Business Law, Ohio

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

The answer is you *may* have a case for breach of contract: it is impossible to say without reviewing the offer letter, since depending on how it was written and its exact terms, it may or may not constitute a binding contract. (Contracts are formed and governed by their exact language.) It would be well worth your while to bring the letter to an attorney to review with you, to see if you do have a case.


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