Legal Question in Business Law in Maryland

business purchase

Last month I purchased a restaurant. I have a purchase agreement and the previous owner transferred her trader's license to my name. In the purchase agreement it states that I will assume her lease on the building and will pay her for her 2-month rent deposit, making the deposit that the landlord has essentially belong to me. We met with the landlord and discussed with him before hand and got his approval. I bought the place and payed the first months rent. about a month later the previous owner changes the locks and will not let me in. When I showed up to ask what was going on she called the police to have me removed. She now turns on the sign and does business. I now know that I should have got a new lease, but it is my first business and I had no reason to expect this. What can I do legally? I want to sue her, her husband, and her sister (who basically ran the restaurant before me) for conspiracy. Do I have a case? How much will that cost roughly? Any advice would be helpful. Thanks.

Asked on 11/26/07, 3:43 am

2 Answers from Attorneys

Eugene Policastri Bromberg, Rosenthal, LLP

Re: business purchase

Your purchase agreement needs to be reviewed and more facts need to be obtained. You should consult with a lawyer who handles both business and landlord / tenant issues. I am available for a consult.

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Answered on 11/26/07, 8:30 am
David Lease Smith, Lease & Goldstein, LLC

Re: business purchase

You should consult with an attorney immediately. You may have the ability to seek injunctive relief to recover the business as well as damages. You should collect all written communication, contracts and other documents between you and the sellers as well as the landlord. Did the landlord approve the lease assignment in writing? Did you paid the full purchase price? There are many options available to you. If you would like, I would be happy to discuss the matter with you in more detail.

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Answered on 11/26/07, 10:03 am

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