Legal Question in Business Law in Kentucky
Hello, we have been doing business with a company in Arizona. We provide them with various health and personal products that they in turn resell to there online customers. We had an agreement via email that I would be paid net 30 day terms from when the product was delivered. After the first few orders I was paid with minimal issues but now I am owed $35,000 and its been 50 days (20 over the due date) and I cant get a proper respond. The last respond was that they are working on getting me paid. Which is unacceptable. I would like to know I can do get my money back, I have no more finaces to continue my business. Our company is in Kentucky
Thank you,
1 Answer from Attorneys
s a Franchise Attorney I can say this. I'm sure you're aware of this by now: especially in this economy, don't give 30-day terms to anyone you don't know. Insist on payment up front until then. All you can do at this point is keep on top of them. Do you have a written contract and does it provide for attorneys fees? If so, a well-written demand letter from a lawyer might motivate prompt payment. Lastly, and hopefully you've done this - don't sell anything more to them until you're paid in full. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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