Legal Question in Consumer Law in California

Company goes out of business, do I still pay holder of contract
-purchased two contracts from company A (a food contract and a service contract)
-company A sells contract to company B (finance co.)
-company A goes out of business
-food contract is fully paid off
-service contract has 30 months left
-company B finds company C to take over for company A
-I am skeptical about company C and find company D myself to supply food. Company B(finance company) who holds the contract wants me to continue paying. I want to pay off the contract, but I want the services I am buying. Company B says the services are only provided if food is purchased from company C. Is Company B responsible for suppying the benefits of the contract if I do not buy food from Company C? What are my options to get my service or money back?

Asked on 3/16/03, 2:14 am

2 Answers from Attorneys

Lawrence Walner Lawrence Walner & Assoc.,1 LTD

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Re: Company goes out of business, do I still pay holder of contract

I find it not possible to reply to such contract questions without seeing the contracts and all the related matters in them. It may also require some additional factual information after reading them, some of which material could be in dispute, eventhough believed by the inquirer.

Answered on 3/17/03, 11:43 am

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