Legal Question in Business Law in Georgia
My family sold the business two years ago and have received little in the form of payment from the one who purchased the business. They ignore our calls and are never "in" when we visit them personally. The amount owed us is just shy of 200k, what can we do to get the purchaser to uphold the sale and pay us what we both agreed upon?
Asked on 11/28/12, 10:04 am
1 Answer from Attorneys
Glenn M. Lyon, Esq.
MacGREGOR LYON, LLC, Business Attorneys
It depends. You can always sue or threaten to sue for the money owed, which may be your only real option. However, there may be one or more additional options laid out in the purchase agreement documents � liens, foreclosure, etc.. Have a local business attorney review them and the situation in ore depth to determine your best course of action.
Answered on 11/28/12, 10:36 am
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