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I have a business contract question. Colorado Not yet. I
I recently took over my Daughter and Son in law's business. They signed a quit claim deed. They had a contract with a linen service that I no longer wish to use. The company sent me a letter from their lawyer claiming that I will have to pay them $8000 for breaking the contract. In this contract it does state that the contract is to go to the new owners if the business is sold. It also states that the person that signed the contract has to inform the new owner of this in writing. That never happened. My question is do I have to pay the $8000? … read more
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Richard,Hope you are well. You've been so informative,
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I am a 50% owner of an LLC in Illinois. -- My partner owns
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Meet the Experts:

Infolawyer

Infolawyer

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2,110 satisfied customers

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Dimitry K., Esq.

Dimitry K., Esq.

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Run my own successful business/contract law practice.

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MShore Law

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Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

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Barrister

Barrister

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17 years practicing attorney, JD, BA, MBA

Ely

Ely

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Counselor at Law.

J.Hazelbaker

J.Hazelbaker

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Experienced and trained in the area of business law.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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