Business Good Will transfer of restaurant

5 years ago

I sold my restaurant good will with all equipments, fittings and fixtures. Also agreed to allow the new owners to take over my online accounts with aggregators like foodpanda Zomato etc. The property was rented and the agreement was done by the owner of the building (he is a lawyer). Since the restaurant is in basement, there's water logging issues. Now, the new owners are threatening me that they will file case on me for water logging inside restaurant and few equipments are not working. However, I clearly demonstrated all items and shared water logs inside while handing over. Adviced them to get the chambers repaired by the building owner. Please advice.

Previous Question

Next Question

Prabhakara S K Shetty

Responded 5 years ago

View All Answers

A.Answers to your problem should be found in the agreement you both did.

Helpful

Ambrose Leo

Responded 5 years ago

A.Once the handing over and taking over is taken place before witness and all are recorded are signed there cannot be a complaint later on. You can inform them accordingly, if need take assistance of lawyer from panel of Vidhikarya to safe guard your interest.

Helpful

Abhimanyu Shandilya

Responded 5 years ago

View All Answers

A.What the agreement says about the the condition of the restaurant and equipment? Does it mention about that the equipments are sold in "as is " condition? Was there any clause on the due diligence to be done by the buyer before transfer and post transfer all the risk and liabilities get transferred? If yes, then don't worry nothing can be done to you. If no and the agreement still holds you liable for any loss made by the buyer then you can't help it.

Helpful

Anonymous

Replied 5 years ago

But, I'm not the building owner. Why should I be responsible for any water logging issues in the building?
And, the agreement didn't mention any items is working or not working conditions.

Abhimanyu Shandilya

Replied 5 years ago

Had this been so simple then he would not have bothered you.
Consult a lawyer with a copy of agreement and get this resolved.

Anonymous

Replied 5 years ago

Okay! Thank you Abhimanyu.

Read Related Answers

West Bengal Tender for Fortified Rice

Dear sir You may challenge negative order either before higher authorities or by approaching civil court or High court.

Breech of Employment Agreement

Dear Client, Here are the responses to your query no.1) What are some legal actions that they can raise? Ans: The company can file a civil suit against you for damages caused by a breach of its policy...

Fraud money by friend

Dear Client, Unfortunately, in the absence of any documents/evidence supporting your claim from your friend, there is no possible way or legal remedy to recover the money from your friend even through...

civil law

Dear Client, When a suit related to a property is sub-judice(pending) before a Court of Law, that cannot be a subject matter of an agreement or contract. Being aware of the facts if the parties made a...

Contract renewal and Earn leave encashment.

Dear Client, Contractual workers are subject to the terms and conditions of their employment which can be altered or revised by the Contractor which is their prerogative and if such alteration protect...

Read Blogs on Contracts and Agreements

Double entry in EPFO, Dual Employment, Moonlighting, - Cause and Resolution

The Unfairness of One-Sided Agreements

Essentials of a Builder-Buyer Agreement - Things You Should Know!

The Doctrine of Frustration and Force Majeure: Disruptions in Supply Chains

Government Contracts: The Special Contracts regulated by constitutional Provisions

Contracts and Agreements Lawyers

Kolkata

Bangalore

Mumbai suburban

Karunasish Chakraborty

Kolkata

View Full Profile

Abhradip Jha

Kolkata

View Full Profile

Type of Consultation	Fees
Phone Consultation	₹	Not Yet Updated
Meeting Consultation	₹	Not Yet Updated
Email Consultation	₹	Not Yet Updated
Video Conference	₹	Not Yet Updated
Request for quotation from the Lawyer.