Legal Question in Business Law in Oregon
I wanna buy a restaurant.
1. If some equitpment are rented or still in paymenets ny the former owner, will I need to take over his payments too?
2.If the former owner has a financial problem, loan, or unpay payments, will I take over these problems too?
Asked on 1/18/13, 3:48 pm
1 Answer from Attorneys
Daniel Meek
Daniel W. Meek
It depends upon the contract you sign. You can agree to take over the payments on the equipment, if you want to keep the equipment. Or you can not agree to that. Same for the loans, although you probably will not agree to take over payments on the owner's loans.
Answered on 1/19/13, 11:14 pm
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