I sold a business but buyer isn't paying.

yourplaceormine said:

California Laws Apply.

I sold my small weekly newspaper to another newspaper. The advantage for the buyer was that it gave him adjudication rights.

MY RESPONSE: What? What are "adjudication rights"?



The buyer was told that since he has paid over two thirds of the amount he owes that he is the primary owner of the business.

MY RESPONSE: Okay. If that was the deal between the buyer and his partners, seems like a legitimate decision to me.



So now he has decided not to pay for the rest of the business.

MY RESPONSE: That's a conclusion. You never mentioned "why" this decision was made by him; i.e., Why has he decided to breach your contract?



Can I forclose on the load and take the business back?

MY RESPONSE: I have no idea. What does your written contract say in this regard?


By the way . . . were you the writer and / or editor for the newspaper?

IAAL

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