QUESTION
What can i do about a breach of contract on a business i purchased?
Asked on Oct 04th, 2012 on Business Litigation - Arizona
More details to this question:
I purchased a dry cleaning business and in the agreement all equipment would be in working order or repaired by the previous owner. Also he had agreed, in the contract, to be present for the first 30 days after our purchase to assist in the store where needed. Unfortunately he has failed to comply with all of the above and seems to neglect his responsibility to repair the equipment. I have yet to pay the last 5,000 of the 73,000 dollar payment. What legal recourse can i take?
1 ANSWER
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An attorney should be engaged to review the contract and discuss alternatives. Obviously, with only a few thousand dollars in controversy, it will be difficult to use the judicial system to resolve this kind of matter on a cost-effective basis. You should make every effort to resolve the problem directly with the seller.
Answered on Oct 05th, 2012 at 3:28 PM