Business debts as part of written purchase agreement

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Reference no: EM132176357

Mr. Oliver sold his business to Brenda Buyer, and Brenda promised to assume and pay Mr. Oliver's business debts as part of the written purchase agreement. After Brenda took over the business, she refused to pay Bank of Utica, one of Mr. Oliver's business creditors.

BoU, aware that Brenda had assumed and agreed to pay Oliver's business debts, sued Brenda for the amount of their claim against Mr. Oliver. Brenda claimed Bank of Utica couldn't sue her on this claim because she had no contract with that bank. Was Brenda's defense valid? Explain fully why or why not.

Reference no: EM132176357

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