I sold my restaurant 6 months ago and they do not want to pay me. Can you read the contract
and tell me what I can do?
I want you to read this paragraph and tell me why they do not want to pay me.
9. Procurement of license.
This agreement is made upon the condition that , on or before the date which is 120 daysform April 8th, 2011, New York state liquor Authority shall issue to the corporation
the following License: The approval of the corporate change application. Purchaser prompt and diligently shall apply for such license, and shall furnish all information and documents reasonably requestedin connection with such application.
If such license is not issued with 120 days after the date of this agreement, this agreement shall continue in full force and affect (BUT NO LONGER SUBJECT TO THE CONTINGENCY PROVIDED IN THIS ARTICLE 9) unless:
1. Purchaser delivers to sellers' attorney, within 3 business
days after the expiration date of said period, a written notice that the purchaser was unable to procure such license and therefore elect to terminate this agreement; or 2. purchaser obtains sellers written consent to an extension of said contingency period; or 3. sellers delivers to purchaser a written notice that sellers elect to terminate this agreement. If this agreement is terminated, sellers shall return the down payment to purchaser without interest.
They never applied for a corporate change or for a license. Today they told me that they are not going to pay me the balance of $14,000 untill they get the corporate change and get approved for a liquor license.
What can I do???