More details to this question:
Had a auto deduct contract with a company and it sold during covid shutdown. New owners still taking $. But I did not sign contract with new owners. In the page I have I dont see anything pertaining to if company is sold or what not. How should I approach? Should I first ask new owner for reimbursement it's in excess of $400
1 ANSWER
What do you mean when you say the company was sold? If the company was a corporation or other independent entity (e.g. an llc) and what was "sold" was just equity in the company (e.g. shares of a corporation), the company still exists, it is just owend by different people, and your contract, which I assume was with the company, continues regardless of who owns the company. If yoiu have a contract with IBM, the contract remains in forcee regardless of who owns the shares of IBM. If, however, you mean that the assets of the company were sold to another owner, that could be a different story. In that case, the original contracting party may or may not have the rightt to assign the contract to another person or entity, depending on what the contract provides.
Answered on Nov 06th, 2021 at 6:26 PM