Legal Question in Business Law in Arizona

My dad sold his business then that party sold the business & no one is paying hi

The sale took place in 1994 or 1995. My dad sold the business (auto shop) ,then he was supposed to receive payments of $2000/month, for so many years (I can't remember). There was an arangement with a title company, that said the person who bought the business from dad could not sell it without dad's permission. Well, about a year went by and the new owner was behind in paying my dad, and he sold the business, and the title company let him, without my dad's permission. So the newest owners were paying the guy dad sold it to, and no one was paying my dad. He did not know what to do. They talked to an attourney, and started things, but never finished because they had no money and my mom suffered a nervous break-down, then they moved and could not find the right paper work, and they just did not know what to do.

Now they are divorced. My dad has no phone, and money is tight, so I am trying to help him find out if there is anything he can do, even though it has been somewhere around 6 years. He is worried that there is some sort of ''Statute of Limitations'', and that it is to late now. And where would we even begin - if there is anything we can do.

Any advice would be greatly appreciated!


Asked on 1/17/01, 10:13 pm

1 Answer from Attorneys
Paul Malikowski Malikowski Law Offices, Ltd.

Re: My dad sold his business then that party sold the business & no one is payin

Lawsuit and/or foreclosure of perfected security interest, if any, is indicated. Each state has differing laws on limitations on actions. Payment on note and other events may toll statute. Limitations is an affirmative defense which is waived if not pled as such by the payor. Contract needs review. Nevada law questions answered at www.nvlaw.com.

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Answered on 2/12/01, 10:59 pm


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