What to do if I bought a pizza shop 9 months ago and unbeknownst to me the previous owner was stealing electricity and now this has affected my business?
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What to do if I bought a pizza shop 9 months ago and unbeknownst to me the previous owner was stealing electricity and now this has affected my business?
The previous owner was stealing electric from via a jump cable installed in the meter. Over the Labor Day holiday, half of my electric shut off due to a short because of this. I lost 2 business days and close to 10k in product. To top it off, now my electric bill will at least double since the cable has been removed. Where do I stand? The previous owner didn’t disclose this when we purchased but let me go on thinking my bill will be within a certain range.
Asked on September 4, 2014 under Business Law, Pennsylvania
Answers:
Anne Brady / Law Office of Anne Brady
Answered 9 years ago | Contributor
You may be able to void the sale and get your money back if that is what you want. You need to have an attorney review the contract you signed when you bought the business to determine what legal options you have. Generally, contracts have time limits after which when you discover something about the business was not as advertised, you can not recover.
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