QUESTION
Am i liable in this business situation?
Asked on Apr 12th, 2014 on Business Law - California
More details to this question:
I sold the equipment necessary to run a certain business, with the intention of carrying on a similar business. I mentioned to the purchaser that i was to continue with that similar business and i had begun that similar business before the sale. Now the purchaser is claiming that i sold him a business and that i should cease the similar business. There was no contract in place. The buyer is claiming that i never mentioned my other business and that he requested written T&Cs;as well as a contract, beforehand, this is not true. Am i liable in any way? And does the buyer have the right to make any demands on me?
1 ANSWER
2 Awards
Hi,
Based on the facts that you have laid out it seems pretty unlikely that the purchaser has a very good claim against you. The buyer certainly has the right to make demands on you, but it doesn't sound like you have any liability.
Obviously this is just based on the info that you have provided and I don't think it would be wise to totally ignore the situation, especially if he has an attorney involved.
Thanks,Jon
Answered on Apr 14th, 2014 at 2:55 PM