Foxboro, MA asked in Business Law, Civil Litigation and Contracts for Massachusetts

Q: Medical Practice Owner in Breach of Contract

Practice owner has been approached by an investment party that want to buy 51% o the share. Owner is now giving notices and terminating all previous 'profit sharing' or branch partnership contract without any reason.

1. Is this legal?

2. As the investment company started the discussion BEFORE any termination notices, would previous branch partners / shareholders qualify for share?

1 Lawyer Answer
Bruce Alexander Minnick
Bruce Alexander Minnick
Answered

A: Your important questions cannot be answer here on Justia The concerns expressed are dependent upon the terms of all the written contracts involved; so you should contact a local business lawyer to advise you.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.