Legal Question in Business Law in Tennessee
Here is my situation?
I own a convenience store and my oil supplier and I have a contract to buy and supply fuel for 9 more years. He sold his oil distributorship to another oil company. can he make me stay in this contract when he sells his oil company simply by this contract says " This contract shall be binding upon the seller and purchaser and upon their successors, heirs. personal representatives, and assigns". Does and language in previous sentence keep me in the contract when he decides to sell to another distributorship or can I get out of it?
thanks,
James
Asked on 6/06/18, 2:20 pm
1 Answer from Attorneys
Frank Natoli
Natoli-Legal, LLC
If the contract is assignable as indicated then you are still on the hook even if another party takes over.
Answered on 6/06/18, 2:23 pm
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