roshan 07 August 2023

Civil suit possible?

i have sold my business to someone in 2010. I had contract with him that he will take responsibility of all claims arising in future from that particular business. (however ownership change did not happen due to some legal issues).

Now as i have done that contract in 2010 is that any provision that will offer me immunity from all claims arising of that particular business.

lets say if someone raise claim against me in 2025 , can i protect myself from that particular contract.

is that contract valid ( does it come under 3 year validation period under law)

is there any legal remedy available?

Thanks

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2 Replies

anubhav Bhatt 07 August 2023

File Suit for Declaration before Court, then court will decide the liability. If you need more clarification, you may contact us, and then I'll explain properly about your case.
Advocate Anurag Bhatt
Allahabad High Court
Mobile 📱 9198889990

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 07 August 2023

If your small family business is a sole proprietorship, you can transfer ownership by selling its assets. If it's a partnership, you could transfer your interest to other partners. If it's a corporation, you can transfer ownership by gifting, selling, or bequeathing shares.