verbal contract with brother in law

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fishies76

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Twenty one years ago my brotherin law promised my wife and I a percentage of his business if we came to work for him and helped grow the company. Since the initial offer he has retracted the offer after the wife and I helped grow his business many times over. He initially told us our house would be paid for in ten years. After ten years when we confronted him about it , he said I changed my mind. He thumbed his nose at us. My wife almost had a nervous breakdown over it and eventually quit for sanity purposes. I stayed on, unwilling to give up on what I had so diligently worked for. I recently confronted him with his own words and promises again. He asked me how much I owed on the house and proceeded to tell me what did I think about ten percent? I said if that is what he considered fair, okay. He told me he would have to give me shares of the company from his daughters portion because he wanted to maintain 51% of the company, sub chapter s by the way. I am an integral part of this company, he knows that, when he made the most recent offer I was threatening to walk. He now contends his lawyer has been busy, out of town, he has not had the time, etcetera......
Do I have any legal grounds for my wife and myself?
 
That's impossible to say. You need to consult with an attorney of your own. You certainly shouldn't wait until your B-I-L's attorney is available (if ever.) He's going to be looking out for the best interests of your B-I-L, not you and your wife.

Any agreements you and your wife had with your B-I-L should have been legally formalized long ago. Whether it's now too late or whether your B-I-L is accountable for promises he made is something only a qualified attorney can advise you on after examining all the facts. By the way, it's apparent your B-I-L has no intention of living up to any promises he's made to you and your wife over the years so I strongly advise you to seek legal counsel and not waste any more time hoping that he'll keep his word.
 
long overdue

I understand that it has been a long time and that there may be a time issue, however since he had just brought it up again within the last few months, doesn't that still indicate some sort of liability on his part if he is still pondering it. (HA HA!)
 
You need to see an attorney! You need expert, specific legal advice, not general information on a bulletin board.
 
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