Legal Question in Business Law in California

I have dealt with similar matters. If you believe you can prove that, and you overpaid by a considerable amount, please send me an email if you are interested in litigating.

Best,

Daniel Bakondi, Esq. [email protected] 415-450-0424

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Well, if you can prove it, you might have multiple remedies available, including damages for fraud. You need to be careful of statute of limitations issues (if you wait too long, you forever lose your right to sue). But, it sounds like you have a case worthy of a discussion with a litigator.

Whoever you talk to will want to see the documentation of the purchase, hopefully you had legal representation in the negotiation and drafting of the purchase agreement, and you didn't inadvertently waive any of these rights to go after the seller.

You got a good answer from Mr. Browning, but watch out for Mr. Bakondi. He has only been in practice a few years, but if you read all his responses you'll realize he claims experience that would require over a decade to accumulate. So far he has not claimed to be retired from the Supreme Court, but I'm just waiting.

One thing that Mr. Browning did not mention is due diligence. Without knowing what you mean by "imputed" and "false" point of sale sales, it's not possible to follow what exactly the seller did or did not say or do at what point in the transaction. When purchasing a business, you must exercise due dilligence in evaluating the transaction. So when you talk to a lawyer, just be prepared to address that issue. As for retaining a lawyer, while I'd love to talk about taking your case, but like Browning and Bakondi, I am geographically undesireable, as we used to say. Ask around and find a good local lawyer to help you.

The other attorneys are right on point here. A review of all facts, documents, etc. is required. After that, a personal consultation is needed. This is not a simple bulletin board type question. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney