Q: I bought a business and learned 6 months later that it has three liens on the business assets. Any recourse I can take?
I have paid 85% of the contract price but stopped making payments because I want to sue the seller for the amount I’ve paid so far. Does the non disclosure of the liens by the seller open the door for breach of contract and refund?
A: The Bulk Sale Law is probably violated. But you will need to examine your potential defendant. If no disclosure was made, then breach of contract may not have occurred. Obviously you did not check this out prior to purchase. Hire a competent attorney to examine your choices.
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