Legal Question in Business Law in Texas

Sale of Business Nightmare

I sold a sign company a year and a half ago. I had a contract with xerox on a 15k copier. I signed the papers to transfer the acct. to the new owner. After he paid the bill for about six months, he stopped. I am now being harrased by bill collectors that say he was never approved to assume the agreement. He never told me. I did not realize that the coppier was not exactly listed on the paper work . But it is a sole proprietorship . Do I have any legal leg to stand on, or is this a ''he said she said'' thing.

Thanks


Asked on 2/15/07, 3:40 pm

2 Answers from Attorneys
James Grissom Law Office of James P. Grissom

Re: Sale of Business Nightmare

Wonder who prepared the "papers". Did Xerox approve the papers. If not, the papers might not apply to Xerox thus possibly making you liable for the remaining balance. Might be a good idea to see a lawyer now - or you could wait until they sue you - if they can. Not enough facts in your query.

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Answered on 2/15/07, 4:09 pm
Johm Smith tom's

Re: Sale of Business Nightmare

You might be ok if you informed Xerox of the sale of the business and transfer of teh copier. Otherwise, you are in for a mess and should get an attorney on this to limit current risk you face. You should never sell a company without using a lawyer; lots of people lose everything this way.

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Answered on 2/15/07, 4:22 pm


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