Dundalk, MD asked in Business Law and Small Claims for Maryland

Q: I sold my business for monthly payment. now buyer stop check and closed bank account.buyer negotiate for less amount.

I am seller of business and sold to Buyer for 30k and we agree on 10k monthly payment.payment was $1000 every month but after 2 payments, buyer stop payment and also closed bank account. now buyer wants to negotiate the balance for 6k for 8k (one time payment). I still have those 10 checks ,seller wrote me during settlements. My question is , under the Maryland civil code law, whats my rights and what types of damages, I would entitle to claim in the court ?

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1 Lawyer Answer
Mark Oakley
Mark Oakley
  • Rockville, MD
  • Licensed in Maryland

A: The buyer is in breach. Sue for the amount owed on the purchase contract.

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