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MShore Law
MShore Law, Attorney
Category: Business Law
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Experience:  Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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if I buy an existing business will be liable for any of its

Resolved Question:

if I buy an existing business will be liable for any of its debts
Submitted: 6 years ago.
Category: Business Law
Expert:  MShore Law replied 6 years ago.
Thank you for the post, your liability for the business debt is dependent on how you structure the purchase. If you do a straight asset purchase you are not liable because you are only purchasing the items/assets of the company, but not the actual company. But if you are purchasing the company, including its name, you would be liable.
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