Legal Question in Business Law in California

Urgent

My Name is--name removed--I am buying a business which is based in orange county, but yesterday I found out from the website https://ocapps.occourts.org/CivilPub/Login.do that somebody file a case against that business, but when I asked the seller about that case he told me he has nothing to do with that. the page I print out from that website shows the business name but different name even though I checked the reseller permit It has the name of the person I am buying from. Now the question is that if I buy that business am I liable for that filed case,PLS do help urgently.... Thanks


Asked on 1/11/07, 3:54 pm

4 Answers from Attorneys

Re: Urgent

Question is, "what are you buying?"

Are you buying the business? Stock of a corporation? Only the assets belonging to the business?

You want to be clear about this and have a written agreement prepared by your attorney.

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Answered on 1/11/07, 3:58 pm
Joel Selik www.SelikLaw.com

Re: Urgent

could be different. You need bulk sales notice and other issues. Get a lawyer before you buy.

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Answered on 1/11/07, 3:59 pm
Robert F. Cohen Law Office of Robert F. Cohen

Re: Urgent

If you are going to use prodution equipment of the purchased business and that's the basis of an injury lawsuit, beware. The new business might be held liable for the injury.

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Answered on 1/11/07, 4:39 pm
Terry A. Nelson Nelson & Lawless

Re: Urgent

Your purchase agreement with the owner must clarify all those issues and resolve who handles what. It should have warranties, disclosures and releases of such problems as part of the terms. Sounds like you need counsel. Feel free to contact me.

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Answered on 1/11/07, 6:00 pm


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