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lwpat, Attorney
Category: Business Law
Satisfied Customers: 25387
Experience:  Attorney with over 35 years of business experience.
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Buying a Buisness

Customer Question

Short story,

I have been dealing with purchasing a business from someone.

They jumped the gun and signed papers with another buyer 3 days before I could secure my funds. They really want to sell to me. Can they back out of their deal?

What options does the seller have?
Submitted: 8 years ago.
Category: Business Law
Expert:  lwpat replied 8 years ago.
You can offer to buy out the other purchaser. Otherwise a contract is a contract. Unless the buyer breaches, the seller is obligated to sell to them. If he doesn't, they can sue him. Sorry