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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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there, we hope you can assist our query. we opened

Customer Question

hello there, we hope you can assist our query.
we opened a small business in 1999 offering internet and calling services. 3 years after we went into partnership with a company for money transfer. This relationship has lasted since 2003.
in june 2014, as Gen manager, i was involved in a car accident which meant I was unable to work from the office and notified our partners. Following some concerns I raised with the accountant due to nos being reported, he went to the store on a sunday, dropped his keys claiming he had resigned. We attended the store and saw 65k had been removed from our safe. we notified the police and our partners of the theft and loss and started repaying the loss from lump payments and commissions on transactions from Dec to Date. From Dec 2014 we have paid 42k to date and notified our partners of our ability to now settle the 24k outstanding.
our partners now claim they want to invoke a contract term which says "following such breach" they would take over "the business" at the locations.
They are now insisting we give them our leases and they would take-over the business. They desire this because in 13 years we have remained the most profitable location and they want to take us over.
we explained that we have other partners who we also trade for hence cannot permit their takeover offer.
As part of the contract we deposited 37k in-cash as security deposit and granted them a charge on our home because we trusted them. With 24k outstanding (which we have in-cash to pay them), the only reason they want to enforce the breach now...and NOT in Dec 2014 when we notified them confuses us.
Are they permitted to now take full control of our operations and locations even though we have already paid them 42k to date and have notified them of the remainder 24k to settle the matter?
Any advise?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Alex Watts : Hello my name is ***** ***** I will help you with this .
Alex Watts : To be clear they knew about the breach for a year before deciding to do anything?
Alex Watts : note my reply may be delayed as I am just in court but I will respond when I get out or there is a break.
Alex Watts : Does the contract say How long they have to enforce a term once breached ?
JACUSTOMER-8uj31t7f- :

no it does not say. instead it says "where there is a breach, they may" terminate the contract...BUT in this case they havent.

JACUSTOMER-8uj31t7f- :

Also i only notified them of the breach 3months ago

JACUSTOMER-8uj31t7f- :

Dec 2014...

Alex Watts :

Ok - why did you take so long?

JACUSTOMER-8uj31t7f- :

apologies alex...i even missed your response. I am using a laptop and when i move around i have no access

JACUSTOMER-8uj31t7f- :

By the way on the matter at hand, i still need advise on my matter. The contract we have was not scrutinised with this type of event happening.

JACUSTOMER-8uj31t7f- :

we have the money to pay BUT taking over is not an option

Alex Watts :

What does the contract say about determination?

JACUSTOMER-8uj31t7f- :

determination in what sense alex?

Alex Watts :

Can they take over the business?

JACUSTOMER-8uj31t7f- :

it says they can suspend/terminate "the business"...

JACUSTOMER-8uj31t7f- :

the business being the money transfer business

JACUSTOMER-8uj31t7f- :

BUT they insist on wanting the business now to run under my premise with no benefit to us

Alex Watts :

But does the contract allow for that?

JACUSTOMER-8uj31t7f- :

they have taken complete control of our keys...and we now have no keys

Alex Watts :

Do they explain why they have waited 3 months before taking any action?

JACUSTOMER-8uj31t7f- :

no

JACUSTOMER-8uj31t7f- :

maybe they were strategising?

JACUSTOMER-8uj31t7f- :

My locations are the most successful locations we built over 16 yrs

Alex Watts :

Does the contract allow for them to take over your business?

JACUSTOMER-8uj31t7f- :

it allows for them "the business"

Alex Watts : What is the clause?
Alex Watts :

Are you able to reply?

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