Legal Question in Business Law in Florida

Contract Business Purchase

I purchased a salon from a person who is working for free The contract states if I sell the business before the end of the contract I must pay her the balance due. I am not making any money and cannot keep the business open. If I shut the business down would I still owe her the balance?


Asked on 3/11/07, 7:27 pm

2 Answers from Attorneys
Johm Smith tom's

Re: Contract Business Purchase

An attorney would have to read your contract, but shutting down the business is not the same as selling it. In fact, if it doesn't make any money, then you don't need it anyway so couldn't you just leave it with her?

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Answered on 3/11/07, 10:05 pm
Robert Roemer Robert Roemer

Re: Contract Business Purchase

I would suggest you call me at my office monday.It sounds like you might have a fraud claim against the seller.I base this on the fact the most business"s are sold using numbers that show the buyer(you) would make a profit by buying the business.(WHY ELSE WOULD YOU BUY THIS BUSINESS).In my law practice I have represented both sides of this situation and it sense you got a bad deal based on the sellers

figures.

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Answered on 3/12/07, 12:17 am


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