My question involves business law in the state of: South Carolina
If my company signs a contract, then goes out of business before the end of the time specified in the contract, can it be sued? The contract is with a company that prints catalogs, and advertises our product in it. (We pay a nominal fee to them, based on the page space our products take up). The contract is quite basic...Saying that "We guarantee to make our products available for resell for one year from the print date." Right now we're talking about the year of 2012. The contract is due now (the catalog printing company operates 5 months in advance) to preserve space for the 2012 catalog. This catalog company sells these catalogs to stores, then the stores give away and display the catalogs to their customers. Then the stores order our product from us. The catalog printing company is in another state, and the stores that buy those catalogs are in just about every state.
Have an idea of what action or recourse the catalog printer might have? Or would the stores themselves be able to take action....on our company is it goes out of business sometime in 2012? Thank you!!