The contract was for equipment, inventory, name rights and a established business. He has not paid in months. He has since closed the business. He still has some of the equipment. He will be returning some of the equipment soon, (hopefully). If he does not return ALL that was on the inventory list (im sure plenty will not be returned) is he still liable for the contract? I think he is thinking he is 'off the hook' when he returns the equipment. It doesn't sound like he even has all that was on the list or does not plan on returning it... help, please!

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Originally Posted by gmulcahy

... If he does not return ALL that was on the inventory list ... is he still liable for the contract? ...

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Maybe. Why, by the way, do you refer to it as a "land contract". What you are describing is an agreement to purchase a business, not land.

A complete answer to your question would require looking at the contract, the law in whatever state or country you are in, and asking you a number of follow-up questions. You need to consult with an attorney.

Just a generic referance I guess. Didn't really think about it when I typed it... Thanks for the insight though! My atty, kind of has left me in a predicament. He's in the hospital... and has no one able to help me at this very moment. Not typical of him, so I'm sure all will be well.

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Originally Posted by gmulcahy

... Thanks for the insight though! My atty, kinda has left me in a predicament. He's in the hospital...and has no one able to help me at this very moment. Not typical of him, so I'm sure all will be well.

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Sorry to learn that. Tell him to get well soon.

Your attorney would have left another attorney in charge of handling his clients while he is in the hospital. Have you called his office to see who he has left in charge? Probably a welll trusted law partner or another trusted attorney. I have never heard of an attorney being away from his office and leaving everything up in the air until he comes back.