Legal Question in Business Law in California

Misrepresentation by seller of business

Seller of business sold business and equipment that has bank lien on it without telling buyer of business. What is recourse of buyer?


Asked on 1/30/07, 12:51 am

2 Answers from Attorneys
Christopher M. Brainard, Esq. C. M. Brainard & Associates - (310) 266-4115

Re: Misrepresentation by seller of business

You sue for the amount of the lien, plus fraud, and punitive damages. You can contact me ASAP, I handle these types of matters. My resume available upon request and at www.ChristopherBrainard.com

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Answered on 1/30/07, 8:48 am

Re: Misrepresentation by seller of business

Your options are relatively limited.

1. Contact seller and identify the problem demand they remove the lien(s).

2. Consult with attorney to review your purchase agreement to make sure that you did not purchase equipment/business "as is" subject to any existing liens with no representations about the property.

3. File lawsuit against the seller. make sure that here are going to be assets to collect from following a court win.

Let me know if you'd like to discuss this matter.

J. Caleb Donner

LEGAL WARRIORS (R)

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Answered on 1/30/07, 9:34 am


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