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Losing my rear!

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pagerguy

Junior Member
What is the name of your state? Arkansas.

I purchased a business that was profitable according to all the data that was given to me. After two months, I found that this was not the case. I have a contract with the previous owner who presented the data to me. By renegotiating the terms of the contract, I can become profitable as previously presented. Otherwise, I am going to lose my butt.

Did the previous owner breach the contract by presenting me with erroneous profit data?
 


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You Are Guilty

Senior Member
pagerguy said:
What is the name of your state? Arkansas.

I purchased a business that was profitable according to all the data that was given to me. After two months, I found that this was not the case. I have a contract with the previous owner who presented the data to me. By renegotiating the terms of the contract, I can become profitable as previously presented. Otherwise, I am going to lose my butt.

Did the previous owner breach the contract by presenting me with erroneous profit data?
Click to expand...
Possible, but unlikely. I don't suppose you know what "due diligence" means, do you?
 
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pagerguy

Junior Member
Refresh my memory it has been numerous years since I took B law.

I am thinking that he either committed fraud by providing me incorrect data or breached the contract when he increased my cost.
 
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pagerguy

Junior Member
Right...but the sole source of the profit data was the previous owner, which I poured over meticulously and by all standards what he was selling me was profitable. Once again, this was according to the data that he provided me.
 
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