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Business Contracts

Asset Purchase Contract


Asked on Sep 15, 2022

Business has been sold

I sold my business in 9-2016 for $300,000 at 6% interest and received $4500 a month for payments then in January 2020 lowered the payments to $3000. How long until the note is paid off? Also the buyers now think they paid too much and want to change the amount, can they so that?

1 Attorney answer


Business Contracts


Answered 13 days ago

Donya G.

ContractsCounsel verified

Business Lawyer
Licensed in Connecticut, New York
Free Consultation

Hello, Everything will depend on what your contract states. If the agreement said they paid the amount they did, it would not matter if they now think otherwise but it depends on your agreement. Generally, any modifications and revisions to an agreement must be in writing and signed by the parties. This would also need to be in your agreement. How I can help - I can review your agreement and advise you on how to take next steps with the buyers. You can connect with me through the website or directly to my profile page at Donya Gordon Esq. Regards, Donya

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