Legal Question in Business Law in Texas

small business sale

i sold a small pet grooming business, 2 yrs ago, which is being paid out over a 5 year note. the terms are simple, the location of the business was rental, the lease taken over by buyer. the buyer recently moved locations without notifying me. i know where she is, called and asked to submit new location and intent in writing. is she in violation of the contract? there is nothing written in the contract as to a move.


Asked on 7/08/09, 11:15 am

1 Answer from Attorneys
Lois Wright Nielsen & Fike, RLLP

Re: small business sale

If there was nothing explicit in the contract for purchase of your pet grooming business that stated that the buyer had to notify you of its physical relocation during the 5 repayment years, the buyer is not in violation of the contract. If your contract stated that the buyer had to maintain residence under the lease property for the full five years, they might be in violation of that provision.

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Answered on 7/08/09, 11:46 am


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