Hi there,
I have bought a business (due for settlement soon), however, I have already paid the vendor for SAV. Once paid, I discovered a cockroach infestation and have had to throw out most of the stock we paid for. Since it is not good or saleable stock (as specified in the contract), can we claim back this money? Or is it on us, under Commercial Law, as we didn't discover the infestation until after we handed the money over?
I have bought a business (due for settlement soon), however, I have already paid the vendor for SAV. Once paid, I discovered a cockroach infestation and have had to throw out most of the stock we paid for. Since it is not good or saleable stock (as specified in the contract), can we claim back this money? Or is it on us, under Commercial Law, as we didn't discover the infestation until after we handed the money over?