Customer’s lost item

Customer’s lost item

We just bought an existing business and the new management started at the beginning of this month. This customer left his item about 5 weeks before we purchased this business, and asked the former owner to store it until he gave another call. The customer was notified that we are not sure about the item’s location and after all of the frustrating conversation with him, he said that he will call his lawyer. I said that we are not responsible for it; the former owner is. Are we 100% responsible for items have been lost during previous ownership? The business that we took over is not an LLC or corporation.

Asked on August 18, 2017 under Business Law, Virginia

Answers:

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