Questions & Answers
Claim for refund and termination of investment contract with a company
I invested a total of 35,000 Dhs in a company last July which promised to return my money in double amount after 3 months.
October came but the company did not give me back my money + the promised gain. Instead, I was asked to reset my investment and wait again for another 6 months.
Their reason is that the mother company closed so they had to rename the company and start all over again. They let me sign a contract but did not want to give me a copy.
Is it necessary for me to get a copy of the contract?
How can I compel them to give me a copy?
Is the contract already legally binding once I signed but not signed by them?
Is it possible for me to withdraw my investment now because I do not want to wait for another 6 months?
Dear questioner,
Regarding your fats above please find the answers below:
1. In case you sign a contract to need to read and understand its terms and conditions carefully and the contract should be in 2 originals for both parties.
2. The contract is binding even if it was verbally as long as both parties are starting to execute it, in your case you already paid the money and the company accepted it, therefore it is binding for both parties. However, you should have witnesses, emails, messages from them to prove the relationship.
For answering the rest of your questions I need to know how did the company contact you and did you sign any contracts with them before?
Please contact me via WhatsApp.
Regards,
