Common Contracts
1 similar null contracts
ContractJuly 17th, 2017
Beydoun defaulted on the loans. Beydoun approached Russell Ebeid (Ebeid) about August, 2009 to purchase the club. Some written proposals were exchanged but no agreement was signed by the parties. Beydoun contends he and Ebeid had an oral agreement that Beydoun would become a member of an LLC to be formed by Ebeid (defendant Ventures), and defendants would buy the debt of plaintiff’s club from the note holders. Plaintiff claims the terms of their oral agreement is contained in an unsigned e- mail dated March 26, 2010 from Ebeid sent to Beydoun entitled, “Term Sheet.” Beydoun testified, “ … As far as I was concerned, it [the Term Sheet] was a binding agreement.” (Beydoun deposition, February 17, 2017, page 14). That is, the Term Sheet contained the terms of the oral agreement between he and Ebeid.
