by gaiaroses, Window Shopper
- Created: September 26, 2010, 8:52 pm
My partner and I recently dissolved a partnership that involved a third person. The remaining business owner is buying us out at an agreed upon amount. The promissory note is tied to the remaining business- a restaurant.
The restaurant is owned by a corporation. The name of the restaurant was different that the name of the corporation.
I recently found out from an ad on the radio), that the remaining owner has changed the name of the restauarant back to the corporation name.
How does that affect our promissory note? Did he do something 'illegal' by changing the name, in essence closing that restaurant, and starting up a new one?
Thanks for any help.
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