How a Retail Business Hired a Lawyer to Draft a Buy Sell Agreement in New York

In 2021, a business in New York posted a project seeking assistance with drafting a buy-sell agreement as part of a sales transaction. The client was selling their business and had negotiated a price that encompassed the deposit and the accounts payable associated with the business. To ensure the buyer would not be liable for future accounts payable and to secure payment for the agreed-upon terms, the client needed a legally binding document outlining these assurances. As a result, the client received three proposals from licensed lawyers, with flat fee bids ranging from $375 to $2,000, all submitted to meet the client’s deadline of less than a week.