Legal Question in Business Law in Washington

Business purchase & sale

I purchased a business 4 months ago and it is stated in the P & S that all records are to be turned over to me at time of closing. This has yet to happen. what I need to know is if there is any recourse that I have against the previous owner? I feel that I have some lost revenue do to the lack of information that I have access to and also I have been having to do some rework because of the old owner giving me the wrong info... What can I do?


Asked on 6/12/09, 7:48 pm

1 Answer from Attorneys
Susan Beecher Susan L. Beecher, Atty at Law

Re: Business purchase & sale

Without knowing all the details, just based on what you have told me, the previous owner breached the contract and you do have recourse.

You need to mitigate, which means you need to really make your best effort to get those records from the old owner, and also to do what you can to get the business going even without the records.

Your next step after that will depend on what the purchase and sale specifically says about this detail, and also what it says about dispute resolution.

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Answered on 6/12/09, 8:03 pm


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