Legal Question in Business Law in New York

business sale/buy

I recently bought a nail spa business in an upscale neighborhood but it was illegally being operated as a massage parlor. I only found out after we had settled the contract. I have undertaken huge financial losses due to lost business. The previous owner fraudulently deceived me in not supplying this key information. I would like to know my legal rights to rectify this matter.

Kim.


Asked on 1/08/08, 6:32 pm

4 Answers from Attorneys

Steve Brodsky Esq. CheapNewYorkLLC.com

Re: business sale/buy

Did you sign a contract? If so, you may have certain rights and/or remedies. I strongly suggest you consult an attorney.

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Answered on 1/08/08, 6:43 pm
NEAL SPECTOR, ESQ. NEAL S. SPECTOR, P.C.

Re: business sale/buy

You may have substantial rights based upon your contract and the law. However, an answer to your problem is impossible without a consultation. If you are serious, email me to make an appointment for your free consultation. [email protected]

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Answered on 1/08/08, 7:12 pm
Christopher Hoyt The Law Offices of Christopher W. Hoyt

Re: business sale/buy

You may have many important rights in this situation. It is important that you speak to an attorney right away. Please feel free to contact my office if we may provide any assistance in this matter.

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Answered on 1/08/08, 7:34 pm
Alani Golanski Alani Golanski, Esq.

Re: business sale/buy

From what you say, you should have a number of claims against the sellers, including (1) fraud, (2) conspiracy to commit fraud, (3) fraudulent inducement, (4) intentional misrepresentation, (5) negligent misrepresentation, (6) recission, and, generally, (7) breach of contract. Your claims may entitle you to recover your ascertainable losses, to negate your contract, and perhaps to recover a punitive element above and beyond your business losses and restitution interest, but all of these possibilities would have to be examined in depth and creatively by an excellent attorney. Please feel free to examine our website and credentials, and to phone our office for an appointment, at your convenience.

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Answered on 1/08/08, 9:24 pm


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