Legal Question in Business Law in California
Im purchasing business in California. Im buying just the assets of the business ( equipment) and will be changing the name to better reflect myself. Am I liable in anyway for the previous owner? Is there anything special I should have written up and signed?
Asked on 9/03/15, 7:43 am
1 Answer from Attorneys
You are going to need to comply with the California Commercial Code's version of the Uniform Commercial Code Bulk Sales law, starting with section 6101 of the California Commercial Code. Failure to do so will expose you to lots of different sorts of liability for the previous owner's business affairs. You will need a lawyer's guidance on this unless you want to leave yourself open to possible claims and litigation.
Answered on 9/03/15, 9:31 am
Related Questions & Answers
-
Can a bicycle rental store give free bottles of water top its customers in... Asked 8/30/15, 7:29 pm in United States California Business Law
-
I am a both renter in a local salon. Renting for just over a year now. I have... Asked 8/29/15, 10:22 am in United States California Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
