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Forum nameThe Daily Grind
Topic subjectRE: Buying a Business... need some advice.
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=109&topic_id=52&mesg_id=63
63, RE: Buying a Business... need some advice.
Posted by Pepperfire, Thu Jan-04-07 04:13 AM
Been there, done that, waiting for the results of the appeal...

I agree with the previous poster. You need a lawyer; and before you throw more money up against the wall, you need to be aware of what a lawyer will cost you in money and in time. And if the lawyer says $3,000; quadruple it. Know also what happens if you win; would your partner have an automatic appeal this could be tied up in the courts for the next 5 years or longer?

That said, you have a contract. If your partner is not complying with the contract, you could have grounds for breech of contract and can demand your money back and I wouldn't be surprised if you couldn't claim interest or damages on top of it... But, it will cost you at least money and time; if not more.

On the other hand, you could simply have a disagreement, miscommunication. Are there others in the company who can train you? Do they know that you are scheduled to take over... learn what you can in the meantime.

And even so, if you end up suing your partner for breech, put it into your head before you do so, that you are walking away, because the lawyer's letter will close whatever door you currently have open and will put you in the judge's hands.

Good luck.

Tina Brooks, VP Marketing
Brooks Pepperfire Foods, Inc.
Makers of Peppermaster Hot Sauces
http://www.peppermaster.com

Eat more peppers!