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My business partner and I entered into an owner financing situation to sell our new construction cleaning business. The guy had no down money, so in return he agreed to clean a new construction apartment building as his "sweat equity" down payment. This was all stated in the contract and prommisory note we all signed. Well, when it came time to do the building, he couldn't be bothered to learn the job himself in order to know how our builders expect the work to be done. He chose instead to farm out the work to people he had "hired". After 7 days of telling him he needs to be there to understand how to do the job himself in case his workers quit, get sick, etc along with other shady things he did such as not paying 2 of the girls the money he promised them and the little bit he did give one of the girls was in check form of which he told her not to take it to the bank it was drawn on as well as having to leave everyday from 12-2 to do "banking" we finally told him we were not going to go thru with the sale of the business to him. Anyway, to make a long story short, he now says that we are to pay the 2 girls wages. Our feeling on it is that we entered into an agreement w/ him, not him and whoever he brought in to do his sweat equity work for him, therefore we do not feel we should pay for them. How he pays them is his problem. He knew he was getting no money for this job, but he said he was planning on paying them from the money he would have received in July from our clients, but since we pulled the sale, that is why we are to pay for them. I have kept a log book of everything that was done or said since the beginning of this project which about 7 pages long. It logs every conversation I had with him to show that we were trying to help him. He was not cut out for this type of cleaning, by his own admission, but yet we're at fault. We flat out told him don't buy it. get out before you get into deep, lose all the clients and then can't pay us. I was told I worry too much. Anyhow, I could go on and on. I'm just trying to see if anyone out there has any advice or anything. I've already threatened to take him to court to hash it out if we have to do that. Thanks in advance for any info anyone can give me.
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