Can I be forced to sell my business if I already signed an agreement or can I rescind?

Full question:

If you signed an agreement to sell your business, then change your mind and do not want to sell. Can the buyer force you sell?

  • Category: Contracts
  • Date:
  • State: New Jersey

Answer:

Please see the information at the following links:


http://definitions.uslegal.com/c/contracts-recission/

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Generally, once a contract is signed, the price is fixed and cannot be changed without mutual agreement from both parties. If the buyer wishes to change the price, they must negotiate with the seller. Any alterations should be documented in writing to avoid disputes.