business purchase fell through
I was going to buy an on-line
business and at the last minute I
just couldn't get any financing to do
so. I had told the owner that I really
wanted to buy it over the course of 3
months, but that in the end had
problems getting financing. During
the talks that we had, she disclosed
her schedule C, and how she runs
her business to show me that it was
a profitable business. I have not
signed any legal documents before
talks nor have I signed any papers
that I was definitely going to buy the
business at any time.
Now the owner is threatening to
take legal actions, if I plan to open
my own business if it was similar to
his , because he is claiming he told
me inside secrets. Could the owner
take those legal actions against me if
I would open up my own store? Am I
in any way legaly bound to the
owner and can indeed not open a
similar store on-line?