Legal Question in Business Law in California

legal contract

I sold a liquor store, and the buyer carried inventory of 65000. He paid me 4 payments of 10000.00 per month totaling 40000.00. He has not paid me rest of the $25000.00 for about 2 years. He keep saying he doesn't have the money. I gave him 30 day certified mail notice and ia'm ready to serve him papers through server. On behalf of contract i can take over the store. Should i serve him to just have court case in court for the money or should i let him know on the papers when we serve him in advance that if you don't pay that we will have to take over the store.


Asked on 4/15/09, 4:53 pm

3 Answers from Attorneys
Scott Linden Scott H. Linden, Esq.

Re: legal contract

I would like to review the contract to see what remedies are laid out in it, this is the best source. But based on what info you have provided I would do the following:

I would file the lawsuit demanding either specific performance, meaning the buyer pay the balance owed (plus interest) or, as an alternative, forfeiture of the agreement and you retake possession. (You are allowed to demand several options for resolution in a Complaint.)

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Answered on 4/15/09, 5:32 pm
Larry Rothman Larry Rothman & Associates

Re: legal contract

Natually, we would have to look at your contract and other written documentation. Then, I suggest a strong letter giving owner 10 days to pay and then a lawsuit. If your documentation is in order, you may want to attempt to obtain a prejudgment attachment of owner's assets - before they vanish.

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Answered on 4/15/09, 6:42 pm
Terry A. Nelson Nelson & Lawless

Re: legal contract

Well, you could continue waiting until the statute of limitations runs out on you, OR you could take proper legal action to enforce your contract now. If your 'papers' are an already filed civil lawsuit, then follow through on it. If not get an attorney to do what is necessary, because you don't get to just waltz into the store and kick him out without court orders and judgments.

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Answered on 4/15/09, 7:27 pm


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