Legal Question in Business Law in California

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I sold my business to this guy. He paid me the cash, and signed a notarized contract saying once he buys it, it's his, and I will not be responsible for the business. The problem is, he hasn't signed the lease with the landlord yet. Although, they got together and agreed that he can take over my business.

HE wants his money back. Can he take me to court?


Asked on 6/20/08, 12:52 am

2 Answers from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Help

Depends. Did you have your lawyer review the contract before you signed?

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Answered on 6/20/08, 1:27 am
Daniel Harrison Berger Harrison, APC

Re: Help

He can only get his money back if he has grounds for rescission, such as fraud, mistake of fact, or failure of a condition. He can't get his money back if he is just unhappy with the deal or wishes he hadn't paid you money. Why does he want his money back? Feel free to email.

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Answered on 6/20/08, 9:46 am


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