Legal Question in Credit and Debt Law in California

Unless the contract specifically stated that you retained or have the right to terminate the agreement upon the sale of the company, you are likely still obligated to perform your side of the agreement. Contracts are generally going to be held to be assignable absent language in the agreement to the contrary, or if the contract is so unique to the one person with whom you contracted that the services cannot be performed by anyone else. Taekwondo is probably not in that later category. You may wish to have a local attorney review the agreement.

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