Legal Question in Business Law in California

Business Acquisition

I acquired a business from a landlord who owned the real property and had evicted the previous tenant. I purchased the liquor license through escrow and paid first month rent & security dep. There is no signed agreement or contract for any other amount and no bill of sale. What time frame does evicted tenant or landlord have to remove FF&E from business after my acquisition & what is statute of limitation for oral agreements?


Asked on 11/30/08, 3:43 am

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Re: Business Acquisition

Sounds like you bought into a whole lot of legal problems that are going to have to be resolved. You 'bought' a business without anything in writing to specify the rights and responsibilities of the various parties. I question the status and validity of your liquor license if you didn't comply with all the normal paperwork required by ABC. You'd better get a lease and other written agreements done before you sink any more money into this, not knowing what you're getting. Feel free to contact me if serious about getting this sorted out with the help of counsel.

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Answered on 12/01/08, 1:31 pm


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