Legal Question in Business Law in Florida

sales and commision agreement

I drew up a sales and commision agreement for my business to takeover a customer list paying commission of 15% of payments received from sales generated from the list. the terms were for 6 years. No set amount just 15% on received payment. Paid on a monthly basis. The agreement was signed by me as president of a corp. and her as president of her corp. and was based on good faith.

their were not any liens or Chatel mortgages or personal guarantees and no ucc1 filing. How would I go about closing shop or selling my business if i desired to pursue other interest? Can she sue me for potential loss of income? I paid a lawer to review her Initial Business Purches Contract and he said it was terrible for me So I with a help of a friend savy in business created the Sales Commision Agreement we are referring to here. Then set up an appt with a lawer and reviewed and modified it for further protection. This lawer initially was concerned for me thinking I was the seller of the customer list but was relieved to find out i was the buyer of the list and drew the contract up myself. He overall felt it was well done. and I was protected. My Question is how best to sell or get out of the agreement to pursue other interest and better my family?


Asked on 8/10/07, 4:53 am

2 Answers from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: sales and commision agreement

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Your written agreement should speak to this. You should go back to the attorney you consulted and review this issue with said attorney for advice.

Scott R. Jay, Esq.

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Answered on 8/10/07, 11:50 pm
Philip Friedman Bonifield, Friedman & Leifer, P.A.

Re: sales and commision agreement

You have a lot of varied facts, and the issue will likely turn on the written document. You should consult with an attorney directly on this.

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Answered on 8/10/07, 10:18 am


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