Legal Question in Real Estate Law in California

I transferred/sold my business (assignment) in a large mall. The mall was requiring an upgrade to the fire alarm system. I had a contract with a third party vendor that the mall designated to upgrade the fire alarm system. We paid half of the cost as deposit, however no work was done while I owned the business. After the business was handed over, our contract with the third party vendor was voided. Out of good faith, we decided to credit the new buyers with our deposit refund, half of the amount of the construction. Now the buyers are claiming we need to pay for the full amount of work for the fire alarm system and refusing to release and not allowing escrow to release this amount. Do I have a case if I take the buyer to small claims to release the remained amount?

Thanks!


Asked on 2/09/14, 9:03 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

you can try, and IF your contract with the buyer provided adequate disclosure and waiver of such things, then you may win. If nothing was said, then you have fight and debate over what the sale was meant to include regarding debt and obligations.

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Answered on 2/10/14, 10:42 am


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