Legal Question in Business Law in Florida
sale of business
i sold my business for a deposit now,3 payments and a balloon in November.
Until the final payment is made in November can I still have access to my business?
I don't have a key now and they are selling my equiptment.
Thanks
Asked on 9/05/08, 1:04 pm
2 Answers from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
Re: sale of business
Generally, and almost always, the answer to your question is "no" but it would depend on the specific language of the purchase and sale agreemnent that you signed.
Answered on 9/05/08, 1:55 pm
William Gwaltney
William W. Gwaltney, Attorneys at Law
Re: sale of business
refer to your sales agreement. Generally speaking it sounds like you financed the business for them and you usually relinquish any control over the business unless they default on the agreement.
Hopefully you had an attorney representing your interests in the sale.
Answered on 9/05/08, 9:47 pm
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