Business Purchase – A blunt cut

McMahon Turner Solicitors & Conveyancers were approached by a hairdresser who had privately purchased a hairdressing business without the services of a Solicitor.

The Story
The hairdresser had privately entered into a verbal agreement with a hairdressing business owner to purchase the hairdressing business. The hairdresser paid the purchase price in full to the hairdressing business owner prior to the hairdresser taking over the business.

The hairdresser attends the hairdressing business on a Monday morning to take over the business and soon realises that the hairdressing business is no longer there.

The hairdresser seeks and obtains legal advice from a Solicitor who advised that the hairdresser is unlikely to see any of her money again.

The hairdresser approaches McMahon Turner Solicitors & Conveyancers for advice.

McMahon Turner Solicitors & Conveyancers locates the hairdressing business owner and commences legal proceedings against the hairdressing business owner. The proceedings are successful and the hairdresser receives over $43,000 being an amount equal to the purchase price plus interest.

The Lesson
When purchasing a business it is imperative to utilise the services of a Solicitor.

When seeking legal advice as to any debt recovery matter or dispute it is imperative to utilise the services of a competent Solicitor.

Competent Solicitors will spend the appropriate amount of time on your matter and will take the appropriate legal action.

Private and verbal agreements and/or transactions often result in disputes.

The Solution
Phone McMahon Turner Solicitors & Conveyancers on (02) 9982 8800.