Legal Question in Business Law in Colorado

To answer your question requires a review of the contract and other facts. Assuming the contract is binding and there are no issues with the statute of limitations and other contractual issues, the steps to exercise your repurchase rights should be outlined in the contract. In a well written agreement, normally you must provide written notice and then there is a closing scheduled where transfer is made and the transaction is completed. I have a suspicion that your contract may not be this clear.

I strongly recommend you contact a business attorney to review this contact and the facts. This should be done quickly because there may be statute of limitation issues which could eliminate your claimed rights.

This answer is for informational purposes only and is not legal advice regarding your question. This answer does not establish an attorney-client relationship.

As a Franchise Attorney I agree with the other attorney answer. There's no way to do anything before first having a business attorney review all the documents. Only then will you be in a position to develop a good, going-forward strategy. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation