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I sold my business (bar) to a person I have a contract. He…

Customer Question
I sold my business...

I sold my business (bar) to a person I have a contract. He took over the first of DE em

Lawyer's Assistant: Has anything been filed or reported?

December and he was suppose to pay me for the bar the first of may. He turned over the key to the building last nite to one of my employee I went there this morning and when I went in the bar has trashed and a lot of the equipment was missing found out he sold it to some people for cash. My question is can I put him in jail for several Stealing No I haven't filed anything

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Not right now I got my credit card now

Lawyer's Assistant: What state is this in? And when did the issue begin?

Noth carolina

Submitted: 1 year ago.Category: Business Law
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Answered in 6 minutes by:
4/17/2017
Business Lawyer: legalg, Attorney replied 1 year ago
legalg
legalg, Attorney
Category: Business Law
Satisfied Customers: 13,958
Experience: General Practitioner. Research Attorney
Verified

Hello! I will be reviewing your question and posting a response momentarily; if you have any follow up questions please respond here. Thanks!

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Business Lawyer: legalg, Attorney replied 1 year ago

I am very sorry to hear this.

In NC larceny actually involves stealing, or receiving, stolen goods. So if a person has claim of ownership per a contract that is generally not considered theft per the penal code:

http://www.ncga.state.nc.us/enactedlegislation/statutes/html/bysection/chapter_14/gs_14-72.html

So the appropriate remedy is to sue in civil court for breach of contract.

An agreement must contain four essential elements to be regarded as a contract. If any one of them is missing, the agreement will not be legally binding.
1. Offer
2. Acceptance
3. Intention (meeting of the minds)
4. Consideration (fair value exchanged)

For breach of a contract, there is a material breach (goes to the very heart of the matter) and an immaterial breach (money damages will help compensate the plaintiff).

In cases of material breach, the party not in breach may revoke their acceptance, so goods/payment are returned.

For immaterial breach, the plaintiff is compensated by the defendant paying for the damages (ie cost of repair).

Further questions? Please post here to continue the chat.

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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.

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Customer reply replied 1 year ago
It seems like to me he didn't pay for the business how can he sell the equipment
Business Lawyer: legalg, Attorney replied 1 year ago

Because the person who is on title as the owner can sell the property if the buyer has no knowledge of true ownership; the original seller would pursue the breach of contract remedy for financial damages since the party would be in breach of the original contract.

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Business Lawyer: legalg, Attorney replied 1 year ago

Hello again; just checking in to see how things worked out;
if you have further questions please don't hesitate to reach out to me here on Just Answerand I will do my best to get you the requested information.
Thanks!

The above information is for educational purposes only. A consultation with a private attorney is recommended so they can apply the law to your specific facts, and suggest the best course of action. An attorney can be located here:
http://www.americanbar.org/groups/public_education/public-information/how-do-i-find-a-lawyer-.html

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