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I just purchase a tanning salon, and i change the name of

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the salon. I took on...
i just purchase a tanning salon, and i change the name of the salon. I took on the current customers, honoring their previous packages that were paid to the previous owner. Question: For the EFT (electronic funds transfer) accounts.. 1.) can I auto charge them every month under the old salon name contract or would I need to update the contract under new salon name in order to auto charge the funds? 2.) I have a customer that is signed up with EFT agreement with commitment of one year contract (under contract: ALL MEMBERS ARE NON TRANSFERABLE AND NON REFUNDABLE) but under old salon name, who wants to terminate contract. Can I deny her of termination?
Submitted: 1 year ago.Category: Business Law
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Answered in 6 minutes by:
7/19/2016
Business Lawyer: Delta-Lawyer, Attorney replied 1 year ago
Delta-Lawyer
Delta-Lawyer, Attorney
Category: Business Law
Satisfied Customers: 3,546
Experience: 10 years practicing IP law and general litigation
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I hope this message finds you well. I am a licensed attorney with over a dozen years of experience handling matters of this nature. It is a pleasure to assist you today.

I will answer your questions in the order in which they appear:

(1) The answer is that you can, since you bought the rights to the old salon. However, the best business practice here is to change our the contract name with an addendum to the existing contract. This will be much cleaner for all parties involved if litigation were to ensue. It will also draw less attention from the IRS and other regulatory entities if you go ahead and switch things over.

(2) You can deny her, but I would let her out anyway. The reason is less legal and more elimination of potential hassle (both legally and in business). Before making a decision, read through the contract...some contracts of this nature will have emergency cancellation provisions that have a penalty for early cancellation associated therewith. If that is in the contract, let her out but enforce the penalty. If it is not, I would just let her out because it is the path of least resistance here.

Let me know if you have any other questions or comments. Please also rate my answer positively (THREE OR MORE STARS) on the ratings bar on your end.

Thank you and best wishes!

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Business Lawyer: Delta-Lawyer, Attorney replied 1 year ago

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