Legal Question in Business Law in Michigan
Out of Business Hair Salon
There is a local hair salon that has closed it's doors due to health reasons. I have done some footwork and found that the dba as well as the corporation status has lapsed on this business. The owner was leasing the space it was in. Does this owner still have legal right to sell the business, or just the chairs, sinks, dryers, stations, etc. that occupy this space?
2 Answers from Attorneys
Re: Out of Business Hair Salon
I have handled two hair salon transactions the past year. Their is no short answer to your question. You need to know if anyone is holding a security interest in the equipment or the name. The simplest method is to get in contact with the landlord and the prior owner.
Re: Out of Business Hair Salon
The owner has the right to sell the business (not the leased space, of course) and its equipment and inventory. The business consists of things like goodwill (reputation and business base), although if it was put of business for violation of the health code, there is probably no goodwill to sell.
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