Legal Question in Business Law in New York

Re: is this sale of bussiness legal

If your father has been judicially-declared incompetent, then the sale is void. On the other hand, if your father is simply mentally ill and has never been declared legally incompetent, the contract is voidable upon a showing that he was not of sound mind.

Unfortunately, I cannot give you a more definitive response without additional details.

Hope this is a helpful start.

Re: is this sale of bussiness legal

Mr. Isaacs is absolutely correct.

FYI...something stuck in my mind that a professor said in law school..."Everyone is entitled to make a bad deal." Unfortunatey, that's true. So, if your Dad made a "bad deal" (and he is not considered mentally incapacitated), your options may be limited.

You may want to consider speaking with an attorney and give the attorney more details about your Dad's situation.

Good luck.