NSW Can’t pay out business partner due to Covid-19

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Ali97

Member
10 April 2020
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A few weeks before the global pandemic my business partner and I signed a contract to buy her out of our salon. With the government shutdown, I can no longer pay those payments. The security I had on this was my car but because I’m suffering from coronavirus situation I cannot make those payments. Prior to the coronavirus I was able to make these payments. I am unemployed and has and have had to close my business. Does she have a right to take my car still or is there a way around this due to unforeseen circumstances?
 

Rob Legat - SBPL

Lawyer
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16 February 2017
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Gold Coast, Queensland
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You’ll need someone to review the terms of the agreements in detail to be able to answer that.