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Jenny, Solicitor
Category: Law
Satisfied Customers: 6466
Experience:  Qualified Solicitor specialising in Employment Law and general legal matters. Please start your question For Jenny Only
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I have a business sale contract which has a clause

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I have a business sale contract which has a clause that sates I can not compete with the business for a period of 3 years.
The contact payment terms had an initial lump sum payment followed by 5 instalments to be paid on the 1st of each month.
The buyer has been several days late with each payment with 2 more payments to be made.
My question is, does the fact the payments have not been made on the dates specified within the contact make him in breach of the contract and the non compete clause not enforceable?
Many thanks.
Hello my name is ***** ***** I am happy to help you today.
Is there any other breach than the late payments?
Customer: replied 2 years ago.
Hello,No the contract was very basic, so there has been no other terms breached.
Hi I am afraid that late payment alone, if all aspects of the contract remain in place would be unlikely to render the contract void and the restrictive covenants unenforceable.
If you want to compete against the business I would suggest you have someone look over the restrictive covenants as many are so badly drafted that they would not stand up in court in any event.
If you have any further questions please do ask. If I have answered your question I would be grateful if you would take the time to rate my answer. Thank you and all the best.
Customer: replied 2 years ago.
Thank you Jenny.Is the £54 to review the restrictive covenants on top of the £38 already paid, or £54 in total?
Hi you have not yet rated my answer so I have not been paid for that. The additional service is an extra charge. You do not have to accept it if you do not want to.
Many thanks
Jenny and 2 other Law Specialists are ready to help you