DearCustomer- So long as your contract simply says he will pay you a certain amount on or before 7/23/13 then he owes you the money. The closing of the store is irrelevant. If he bought the store he can do what he wants with it. If your contract was dependent on the store being open then that would present a different issue.
I am assuming he gave you a promissory note to repay this money by the set date. If that is so then the note is valid regardless of the business being in operation.
David Kennett - JD - Attorney at Law
A simple contract to sell a business does not need to be notarized as do real estate mortgages and deeds. In order to place a lien you would first have to sue him and obtain a judgment. At that point you could certify the judgment which would place a lien on any real estate he may own in that county.
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