Last year, Widget World purchased a small competitor, Flatbush Particles Company, based in Antioch. For some reason, our auditors overlooked an agreement where Flatbush was to provide widgets to Running Motors, Inc., at a cost that would prohibit any profit.
If the agreement were to be breached, how would liability be delegated? Would Flatbush and/or Widget World be liable and to what extent?
Answer
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Answer
Depends on your purchase agreement. Read it.
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