Legal Question in Business Law in Illinois

Buisiness Purchase

My husband and I purchased a business 6 months ago. In our contract it states that everything is in good and working condition. So far we have had to repair almost all of the equipment in our restaurant due to poor maintance. More than routine repairs. Is the previous owner liable for this and any lost business or food due th this?


Asked on 4/27/08, 12:31 am

1 Answer from Attorneys
John Steele Steele Law Firm

Re: Buisiness Purchase

Depends on the Contract. If the warranty was that all the equipment was in good shape and it was not, then he will be liable for the costs. As to lost income, that is more difficult.

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Answered on 4/27/08, 10:12 am


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