Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.
Is there any written contract please?
Did anyone else witness the conversation? What will happen to the £14,500?
Thank you for your reply. There is no written contract at all. There are two witnesses who are aware that Mr Wong has broken his promise that he will pay £28000 by installments of £500 a week for 56 weeks. He stopped paying after 29 weeks, having paid £14500. At the beginning of the deal, I made it clear that if the payment plan is broken for more than 3 weeks, he may lose the payments that he has made. I will put the £14500 towards rental of the kitchen equipment, tables and chairs etc, which work out as £160 per week.
He and his wife reside above the restaurant with the rest of the restaurant staff. He will have to move out as soon as he ceases trading
How do you work out the rental? Is that rental from you?
£300 rent is for the land lord of the property paid via me. £160 a week is for the rental of kitchen equipment etc.
£14500 divided by 75 weeks work out at £160 per week for the rental of kitchen equipment etc. £300 rent is for the restaurant including the flat above the restaurant. Mr Wong pays me £460 per week, and I pay the land lord £300. Basically, the £14500 that Mr Wong has paid me is going towards the kitchen equipment etc as he has decided that he cannot afford to buy the restaurant anymore.
Mr Wong pays me £300 in cash every week, and I pay the land lord by standing order from my bank account.
I have to clarify that Mr Wong only pays me £300 a week to pay my land lord, the £160 was worked out from the £14500 already paid
Mr Wong knows about the £300 rent for the landlord, but because he decided not to buy over the business, the £14500 became the rent for kitchen equipment etc
The £300 rent a week is for the landlord, not for me. I am the lease holder
No, the £500 a week was for the buying of the business. He was paying that in installments. He also paid £300 to the landlord whilst he paid me the £500 for the first 29 weeks. But he stopped paying because he decided not to buy it after all. Hence the £14500 he had paid was then put towards the rent for making use of the kitchen equipment etc
No, Mr Wong wanted to leave on 29 December
What if i speak to him and he agrees to leave sooner?
Can I clarify anything for you about this today please?