How can I get out of or negotiate a lease for a point of sale system that I no longer can afford because my pizza shop is now closed?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

How can I get out of or negotiate a lease for a point of sale system that I no longer can afford because my pizza shop is now closed?

I want to avoid backruptcy after my pizza shop closed. My partners went backrupt but all I had in my name was a POS system. I have been paying half of the payment and a friend who is subleasing it from me has been paying the other half. Now his shop is going to close and he cannot afford to pay it anymore nor can I.

Asked on March 25, 2009 under Bankruptcy Law, Ohio

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 14 years ago | Contributor

Unfortunately, if you signed a contract and the contract is not up yet, then you may be out of luck.  Contact them.  Also, check your contract -- does it give you an out if your business closes?


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption