Legal Question in Business Law in Utah

I bought a restaurant and the ex-owner lied to me

I bought a restaurant and no agent was involved. He verbally told us several times how much he made daily. I bought the restaurant for $50,000. I agreed to give him $35,000 first and then I would him $15,000 after. I signed the contract and then 1 month later calculated and the restaurant only made 1/2 of the amount. I asked for proof of past past profit and he does not have it. What should I do? can I take him to court? I am loosing money daily. Is it worth taking him to court?


Asked on 9/19/07, 9:29 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: I bought a restaurant and the ex-owner lied to me

You can sue for misrepresentation. You should have done your diligence and asked for proof of sales and expenses. But you relied on the sellers misrepresentations and can seek either a rescission (get all your money back) or an adjustment of the purchase price. Call for a free consultation.

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Answered on 9/19/07, 10:23 pm


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