Legal Question in Business Law in Florida
If I buy an existing cash business, do not change the name, products offered, location or phone number and my business drops off 60-70% the first 3 weeks, I believe the prior owner may have inflated the financials to make the sale look more lucrative. If so, do I have a recourse?
Asked on 5/24/16, 12:44 pm
2 Answers from Attorneys
Steven Meyer
CPLS, P.A.
You may have a right to rescind the deal and get your money back, but you would have to have some evidence that the prior owner lied o you about the gross sales. Plus, it would probably be an expensive prospect to pursue legal action against him.
Answered on 5/24/16, 1:25 pm
David Slater
David P. Slater, Esq.
It would also depend on your contract terms.
Answered on 5/24/16, 1:27 pm
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