Hi,
I am a writer and I was recently approached by a Production House A interested in buying option rights to my book. We negotiated and agreed on X consideration amount (even though I knew I was being undervalued and being paid much less than my book's potential) for the deal and they told me they will be sharing the contract draft with me in due course of time. All this negotiation happened via calls and email so far but there was no exchange of monies / token amount. Soon after a contract draft was emailed to me which I was yet to go through and agree upon. Meanwhile, I was approached by another production house (Production House B) who also seemed really keen in my book and said they are willing to pay me whatever amount I quote, so I quoted what I felt would be justified and of course more than Production House A. I told them I am already in talks with the first production house etc and only way I can agree to their offer is if they pay me more than Production House A. All this happened via email/calls. They later emailed me saying they've agreed to my condition and are transferring the signing amount. Soon after they transferred the money. Now I am in a flux. I really wish to go ahead with Production House B but the first Production House is threatening me with legal action saying we have a legal contract (via email) and they will destroy me etc if I did't comply with the contract terms and they own the rights (without making any payment). Here Production House B is also pissed saying they will take me to court for duping them if I went ahead with Production House A.
Can someone please guide in this case? Does Production House A really have a case against me? Thank you.
