Legal Question in Business Law in Florida

Getting out from a purchase agreement

I signed a purchase agreement to buy an existing business in 1998.After 5 long years of constant struggle I can't seem to get this business to turn a profit.I am a single woman with no other means of support.My question is can I walk from this business and no longer be held accountable or how can I get out.I will probably have to file bankruptcy.


Asked on 2/17/04, 9:30 am

3 Answers from Attorneys
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: Getting out from a purchase agreement

I would have to review the agreement and speak with you regarding your particular situation to be able to alert you to the viable options that may be at your disposal. You should consult with an attorney.

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Answered on 2/19/04, 2:53 pm
David Slater David P. Slater, Esq.

Re: Getting out from a purchase agreement

Unless the contract provided a method to terminate you cannot get out of it.

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Answered on 2/17/04, 11:37 am
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Getting out from a purchase agreement

After 5 years, I doubt that you can get out of the original agreement. If you are concerned about your current financial condition then you should consult with competent counsel. There is salvation for you.

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Answered on 2/17/04, 7:49 pm


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