Legal Question in Business Law in Missouri
I had a 5 year lease on software with a company that went bankrupt. I can no longer use the service/software since the company went out of business. Should I still be paying them for a service that I am not receiving. Also, who is the money going to since the company is no longer in business?
Asked on 1/14/14, 5:53 am
1 Answer from Attorneys
Anthony Smith
LawSmith
If they can no longer license the software to you, your obligation to pay has probably ended.! But, just because they are in bankruptcy, don't assume that they're out of business. If you are required to keep paying, depending upon which bankruptcy chapter they're in, the money is likely going to the trustee.
Good luck
Answered on 1/15/14, 1:32 pm
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