Legal Question in Business Law in Maine
business law
I sold my business to someone and I rent the location to her. She has defaulted on the note she owned me plus the lease for the store. To get to the point she says she will sue us because we misrepresented the business, which isn't true. There is more to this but does she have a case and how come I have to pay all the attorneys fees because she doesn;t have any money.
1 Answer from Attorneys
Re: business law
Each party to a dispute is responsible for their own atty fees unless there is a statute (most often in consumer matters) or contract language that shifts the cost for both sides reasonable atty fees to the losing party.
If I had prepared your business closing paperwork, promissory note and lease I would have inserted language that required the buyer/leasee to pay for your reasonable atty fees in the event of a default.
You should check your paperwork to see if that language is there.
As to if the buyer has a case about your misrepresenting the business, you will need to sit down and carefully review all of the facts and paperwork with a lawyer, as that will need to be more in depth than can be done via email.
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