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Roger
Roger, Attorney
Category: Business Law
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Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by West
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I just bought a bar. In my agreement it states that i will ...

Customer Question

I just bought a bar. In my agreement it states that i will assume the lease for the cash register. In the original agreement signed by the previous owner and the company he leased from, states that his contract is non transferable. Does not state anything about, without written consent in that clause. Since the original contract states it is non transferable, am I still obligated to assume the lease?   In addition, there is another clause that states that any changes to the terms and conditions must be in writing and signed. Does that override the non transferable statement if they did infact get something in writing and signed it? Thank you in advance for your reply.
Submitted: 6 years ago.
Category: Business Law
Expert:  Roger replied 6 years ago.

You can agree to assume the lease for the cash register, but the assignment is subject to the company's approval - basically, this has created an option for the company to either cancel the service or allow you to continue in the place of the previous owner.

After the initial agreement between the company and the previous owner, if they signed an agreement that said the contract was transferable, that subsequent agreement would be the controlling clause - it basically amended the contract to make the agreement transferable.

Please let me know if you have any additional questions. Thanks.

Expert:  Roger replied 6 years ago.

If you agreed to assume the cash registers and stereo equipment, then you're obligated unless the previous owner and companies did not execute the appropriate documentation to turn the non-transferable contracts ino transferable contracts.

IF the previous owner and companies did not execute these papers prior to your execution of the lease agreement in which you agreed to assume these other two contracts, I believe you can take the position that you aren't obligated to assume the contracts because they hadn't been transferred at the time of closing. Therefore, the previous owner did not have proper authority to contract with you to assume those contracts.

I think you can avoid assumption of the contracts because the previous owner didn't have authority to sign the contracts over when he did so!

Please let me know if you have any additional questions. If not, click "Accept" so I may receive credit for my time. Thanks.

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