Legal Question in Business Law in California

Re: in escrow and sellers back out, can I sue

If you signed a purchase and sale agreement, then, you could seek "specific performance" ordering the seller to sell the property as agreed. I just signed up two such cases this week. We would be happy to review the pertinent documents to answer your questions. Please contact us to discuss in further detail. Good luck and thanks for inquiring.

Re: in escrow and sellers back out, can I sue

So long as you have completed all necessary actions on your part other than those which were rendered impossible by the seller, you are able to sue to either enforce the actual sale of the business or for monetary damages. A good deal depends on the sales agreement. If you are in the area and would like a further consultation, please feel free to call.

Re: in escrow and sellers back out, can I sue

If both parties signed a purchase and sale agreement and there are no remaining contingencies, you can sue for specific performance, ordering the seller to sell the business as agreed, and seek damages for breach of contract. In addition, if there is an attorney's fees provision in the agreement you would be entitled to your attorney's fees.

We would have to review the documents to properly advise you. There would be no charge to review the documents and advise you if you have a case. Please call me at (818) 991-6664.

Re: in escrow and sellers back out, can I sue

It depends on the sales agreement, whether contingencies are gone, time frames have been adhered to, etc. If you'd like me to review your sales agreement, please let me know. I'm also concerned about the "Internet" part -- are the sellers out of state? -Robert F. Cohen, Esq., tel. (310) 858-9771

Re: in escrow and sellers back out, can I sue

It all depends on what your written agreements, correspondence, and/or oral arrangements were.

For example, did you have a non-binding letter of intent, a complete and fully-signed agreement, escrow instructions but no underlying agreement, or something else?

You should contact a good attorney and explain the facts. My firm deals with alot of cases like yours.

Re: in escrow and sellers back out, can I sue

If you sued, if would be for breach of contract. In evaluating the possible suit, you and your attorney would first determine what the contract required each of the parties to do (or refrain from doing), and when, then determine whether either party has breached. The first party to commit a material, uncured breach will normally be liable to the non-breaching party, and a later non-performance by the non-breaching party will be excused.

So, if there is a contract that has been materially breached by the other side, and the breach hasn't been cured, you have grounds for suit.

You could sue for damages (money) or, perhaps, what is called "specific performance" -- an order of the court telling the other side to go through with the transaction.

In my experience, among the first responsibilities of a lawyer hired to handle a case of this kind is to assist his client in trying to negotiate a settlement that doesn't require going to court in the first place.