Elaine Shay's answer The law varies between states but generally the terms of the contract (deposit agreement) control the rights of the parties. You state that the deposit agreement does not contain language stating the deposit would be nonrefundable but you haven't said it states the deposit would be returnable. If either party could back out of the agreement without any consequence, what was the deposit intended to secure?
In NYC if you were unable to resolve this type of dispute, you could commence a...
Lawyers: To answer this question, please Log In to your account.
Tracy Stoneman's answer You bet you can. That's called fraud and negligence and allows you to recover your losses. However, the strength of your case will depend on the answers to many other questions.
Tracy Stoneman's answer Absolutely. By the way, unless the account is a written discretionary account, meaning you gave the broker the ability to buy and sell without talking with you, the broker is required to explain the trades to you BEFORE each and every trade!
Ronald J. Eisenberg's answer If you feel that your broker committed a breach of duty you are free to hire an attorney and file suit. Contact a couple of attorneys, but unfortunately you might find it cost prohibitive. Some causes of action, such as Missouri's Merchandising Practices Act, however, allow a prevailing plaintiff to recover reasonable attorneys' fees. You need to make sure your contract does not have an arbitration provision.
Tracy Stoneman's answer First, write a letter (or email) to the firm asking for everything you need. Give the firm a deadline to respond. A court won't help you unless you first document your efforts and the firm's refusal first.
Steve McCann's answer It is certainly possible, but the chances of recovery are dependent on very specific facts that are not provided here, such as any contracts signed and any representations made by your stockbroker. That being the case, I recommend you organize everything in your possession related to this matter, including any contracts and written communications with your stockbroker, and consult with an attorney individually. A knowledgeable attorney will review the information, and advise as to the best...
William F Sulton Esq.'s answer You could file a lawsuit for a declaration stating that the sale is null and void. But that seems unnecessary in this circumstance. You can probably just walk away from the deal. It happens everyday.
Andy Wayne Williamson's answer Short answer is likely not, but you need to get off line and into an attorneys office in your area asap. There is just no way to say what should be done via this online forum and without reviewing all of the closing paperwork ect.
Steve McCann's answer The viability of a lawsuit is a very fact specific determination that cannot possibly be answered definitively without more details. That said, you may have a case depending on specific representations that may have been made by the trader. I recommend organizing everything you have in your possession relative to this situation, and consulting with an attorney individually for an in depth consultation.
Will Blackton's answer Do you know this person's real identity and are they located in North Carolina, or at least in the US?
If so, you may have a chance at suing them to recover your money.
You can contact the North Carolina Secretary of State's Securities Division to file a complaint if this person committed broker fraud. Filing a complaint will give you a bit more information; but the NC SoS will not get your money back for you; you'll have to hire an attorney.
David Soble's answer If you put in an offer and then revoked the offer in writing BEFORE the seller accepted, you should be able to walk away from the contract. However, Michigan courts have held that signatures on the (bottom lined) merely evidence that the Parties have an agreement. Courts will also look at the surrounding circumstances to determine if you properly revoked your offer. So what evidence do you have that shows you revoked your offer based on the long delay, before January 6, 2018? Finally, only...
James G. Ahlberg's answer Take these facts to a lawyer's office. Something is seriously wrong if a listing agent in a brokerage you ware working with is telling people you are a risk. If your realtor is telling you the listing agent says this, I would question whether the realtor is telling you the truth.
Samuel G McKerall's answer I'm sure you can find an attorney who will consider taking your case, if you look hard enough and if your case has merit. An attorney can sue the accounting firm, the trustee and the trust attorney. He or she cannot file criminal charges, or even threaten to file criminal charges, and cannot sue the E&O carrier. If a person or company with E&O insurance is sued, they contact their E&O carrier, who may or may not step in and defend.
WARNING: I am not your lawyer and providing you...
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.