A: A letter of intent establishes the initial negotiations of the parties; they are typically non binding. The LOI sets out what the parties should expect the agreement would look like, so that everyone is on the same page. For the buyer, it tells the seller what they want; and while no binding, it should only include terms that the parties agree upon. Those terms will be used in the Asset Purchase Agreement (APA) or Purchase and Sale Agreement (PSA) which is binding.
As an attorney that focuses on the purchase and sale of businesses, I can assist you with the LOI as well as the documents required for purchasing the business and closing the deal.
A: The recourse you would have is based in your agreement. Would her actions constitute a breach/breaking of the covenants of the original agreement? If so, then your agreement should also lay out the consequences of such breach. You would need to have the contract reviewed so that you can be advised on what your rights and recourse is based on your agreement.
As a contracts dispute attorney with litigation and arbitration experience, I can review your agreement and advise you. You can connect with me directly on the Contracts Counsel website or on my page at Donya Gordon.
A: Typically, yes. There s generally a confidential section in your employment agreement. Is there something specific you are worried about? You can have an attorney give a consultation, review the agreement and advise you. I can do that for you. You can connect with me through the website.
A: This depends on what was agreed to by the parties in the contract. If the contract is silent, did the parties have an understanding as to what would happen?
It would be beneficial to have your agreement reviewed by an attorney and advise you on next steps. I can assist you with that review and advise. You can connect with me through the website.