Wnat can I do if Ipurchased a business butlater found out the way it was being run was illegal?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Wnat can I do if Ipurchased a business butlater found out the way it was being run was illegal?

Also, the prior owner lied about the income of the business.

Asked on December 11, 2011 under Business Law, Florida

Answers:

Rhonda Patterson / The Patterson Law Office, PLLC

Answered 12 years ago | Contributor

There are a few things you may want to consider/pursue.  First, you will want to ensure that so long as you are running the business, it is in compliance and not being run illegally so as to avoid risk going forward.  You may be able to pursue a rescission of the contract or a breach of contract theory against the seller of the business if they induced you to proceed with the transaction by fraud.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption