Legal Question in Business Law in Missouri

Business sale

I have a contract with my previous company that when the company sells, someday, I get 5% of the sale price. They are now selling off a piece of the company (not a separate company, just a d.b.a. division) for $100,000. Am I entitled to $5,000 or can they just keep selling off pieces without giving me anything?


Asked on 4/03/08, 5:14 pm

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

Re: Business sale

I would have to read the contract and perhaps conduct some research in order to be able to give you a definitive answer. But, it may be worth a reasonable attorney's fee to find out the legal answer to your question in view of the fact that you stand to make $5000 off of this sale if everything goes in your favor. Also, if the company sells off other pieces in the future, you will already have your legal answer and may be collecting additonal funds without the need to pay additional attorney's fees.

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Answered on 4/04/08, 12:53 am


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