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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24870
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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In the sale of a company where the assets of the company only

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In the sale of a company where the assets of the company only were purchased
not the company entity, an order and the responsibility for that order are not transferred are they?

In otherwords if the company had a Purchase Order from a customer and a portion of the assets and two employees services were purchased and after the purchase the company defaulted on the order the responsibility for that remains with the company it does not go to the purchaser of the assets.

An uncompleted order is not an asset is it, it does not show up on a balance sheet.

No generally that is not transferred. Only if there was a sale of the shares or the company would there be a transfer of such.

That you only purchased the company's assets - the owners of the other company or the company would be liable for that unfulfilled order and all that it entails.

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