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buying business

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pipsline123 | 22:51 Sun 30th Aug 2009 | Business & Finance
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i purchased a business over two years ago.
at the time the previous owner supplied me with details of accounts that added up to revenue of �300,000 per annual.
now these figures are completly untrue as i have doubled business, cut back costs by more than half and uppon speaking to previous employees finding that the business was closed for 4 months of the year. so he would have to have been taking over �6,000 per week to reach this figure.
now the time has come to buy the full property do i have any legal terms as to getting money back or giving up property as not making money that was initially suggested?
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Look to see who did the accounts. If you have been provided with false figures and can prove it then you may have an action against someone.
You may find it difficult to prove Pips. It is up to the purchaser to carry out due diligence before purchasing the business.

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