[PorscheGAL]

Originally Posted by RWebb

Did you buy the business? Or did you just buy the storefront or something.

Normally, when you buy the whole business, you have bought not just their assets (goods, stock, etc.) but also their liabilities (i.e. outstanding gift coupons and other debt).

An atty will need to read the entire sales contract and see what is what.

Did you change the name of the store? Legally change it I mean, not just put up a new sign.

Actually as long as you are incorporated under a different name but DBA the store name you are not liable for any of their debts.

Most purchase contracts for businesses have a clause state that the seller has to disclose everything including the gift certificates. The seller can be held financially liable for the gift certificates.