Consumer Law, Warranties breach of contract

[bobv818]

Our bar business went into a 6 month option to purchase contract in March 2008, the buyer took over management that next day, the contract does say that we are still managing it untill the temporary licence happens. He paid $10,000 non refundable towards back monies we owed and was supposed to file for the temporary liquor liscence asap then. He has put a lot of money into the business as far as paying everything due and remodeling it. He has also paid us 2 $2500.00 checks towards purchase of business. He was in the know that we are in need to file chapter 7 and verbally promised it would be more like 2 months for escrow to close. It is now Oct 5, 2008, the contract expired late August, he has not paid the loan, he has not applied for the liquor license, he wont even return our calls. Is he in breach of contract? Can we just change the locks at this point and through him out? Can anyone help?

 

[presutin]

The help you need is the help of an attorney.

 

[Lex101]

Seek Help

Is he in breach of contract? Can we just change the locks at this point and through him out? Can anyone help?

He is. But do not put the law into your hands by changing the lock and throwing him out. Some business law attorney can help you settle this. No, you won't go straight to court. Good luck.