Legal Question in Business Law in Washington

Sold shares to our business...now new owner is asking we pay back credit card charges for our meals and cell phones. Is this even possible?


Asked on 2/10/14, 8:34 pm

2 Answers from Attorneys

Jonathan Baner Baner & Baner

It depends quite a bit on how the deal was structured and what the contracts say. Also, it sounds like an amusing case of a failure to engage in appropriate levels of due diligence on the buyers part.

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Answered on 2/10/14, 8:47 pm
Charles Cruikshank Cruikshank Law Office-Since 1975

What does the purchase and sale agreement say about the included obligations and cutoff date? What's the form of the business entity? Were there any personal guarantees on the debts?

With answers to those questions the answer to yours may (or may not) be found.

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Answered on 2/10/14, 8:55 pm


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