Legal Question in Real Estate Law in Florida

If a business is sold with an outstanding balance of past invoices from a vendor is the new owner liable for the past balance in order to do business with the vendor in which the balance is owed?

What are the rights of the new owner, and can the Vendor keep the new owner from doing business

with the vendor?


Asked on 12/07/10, 7:45 am

1 Answer from Attorneys
Shelly Schellenberg MI & FL private practice

Your question points out why buyers should hire an attorney BEFORE they close on a business. A lot depends on whether you purchased the assets AND liabilities of the business, and what was disclosed by the seller. It seems that the vendor does not have an obligation to do business with someone who owes him money. This makes sense, but again, it depends on all of the contracts involved in the transaction.

Read more
Answered on 12/12/10, 8:26 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida