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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33716
Experience:  15 years real estate, Realtor. Landlord 26 years
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I am currently leasing/owning a spa business. The prior

Customer Question

I am currently leasing/owning a spa business. The prior owner did a large volume of gift card sales, which are now being redeemed with me as the leasee/owner. He agrees each month that he will return 50% of the amount I take in of his redeemed gift cards, however I have been told that he should be returning 100% of those sales as we are now performing the services and he has already benefitted once from the sale of the gift cards. Is this true?
Submitted: 9 months ago.
Category: Real Estate Law
Expert:  Barrister replied 9 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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however I have been told that he should be returning 100% of those sales as we are now performing the services and he has already benefited once from the sale of the gift cards. Is this true?

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I have to agree because if he received $100 for a $100 gift card in cash, and then sold the business, he got the $100 and now the holder it coming to you to perform the services that they already paid for.

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So unless you are agreeing to perform the services for half price, then you should be reimbursed for the total amount of each gift card that is redeemed.

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thanks

Barrister

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