Corporate breach of warranty claims can occur when a business changes hands, at which time the buyer may incur all the liabilities of a business from its former owner – although in the case of an asset only sale of a business, the new owner will not incur all liabilities.
A warranty can extend to all aspects of a business changing hands – and it is a solicitor’s legal duty to ensure that the new owner is covered by the warranty, including covering business finances, tax and accounts, IT infrastructure, premises, plant and stock, fleet vehicles, employee contracts, and any outstanding legal disputes or litigation.
The warranty may extend for a certain period of time – and there may also be a time limit for bring a claim for corporate breach of warranty, so it is vital to seek expert legal advice as soon as a breach of warranty becomes evident.
Corporate breach of warranty can also involve contracts for sale or supply of goods – as well as performance of services. Failures in sale, supply or performance can seriously impact on a company’s profitability and performance, as well as harming business reputation.
Duncan Lewis commercial litigation solicitors can advise at any stage of a corporate breach of warranty – including advising on bringing a claim for breach of warranty, as well as advising on defending corporate breach of warranty claims.
Disclosure of information before sale of a business can be crucial in cases involving corporate breach of warranty – it is the duty of the vendor and its solicitor to ensure that accurate information is available to the purchaser.
Where there has been a breach in the disclosure process before sale of the business, Duncan Lewis will advise on damages and negotiating settlement of any claim.
In cases where fraud has occurred, Duncan Lewis can also call on the expertise of its own in house criminal law solicitors to advise in any case involving corporate breach of warranty where fraud might be a factor.
Duncan Lewis can also advise on dispute resolution and mediation to avoid costly litigation.
For expert legal advice on commercial and company litigation and Corporate Breach of Warranty Claims, call Duncan Lewis Commercial Litigation Solicitors on 0333 772 0409.