Location Contracts

[huynhhh]

If a location owner were to sign a 5 year contract for a machine on location and sell the business after 2 years.. is contract still valid for the new owner?

[Toad]

Yes, you should take your customer to court, great way to start your relationship, lol.

[RikaKazak]

If a location owner were to sign a 5 year contract for a machine on location and sell the business after 2 years.. is contract still valid for the new owner?

 

Interesting question.

 

In real estate, in washington state, if the property owner signs a lease with a tenant, even if the property owner sells the land that contract is valid (the contract transfers to whoever buys the land)....in business I have no idea.  Might be one of those things, if they buy the old business it does, if they shut down the business and a new/exact same type of business opens, it doesn't.  That'd be my guess.

[Pete Schweddy]

I just offer them some of my famous holiday chocolate schweddy balls.

[gumball guy]

If a location owner were to sign a 5 year contract for a machine on location and sell the business after 2 years.. is contract still valid for the new owner?

It really comes down to the wording in the contract. You probably need to talk to an attorney. 

[musser]

Every good contract has right of succession written into it, but its really seldom useful. If you pressure someone to kep your equipment in a location it may be there but in a back room, unplugged, turned to a wall etc etc, kind of a waste of time really.