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

In 2023, a business in New York sought assistance in drafting a buy-sell agreement to facilitate a transaction involving eight LLC members. Six members were interested in selling their interest to the remaining two, with a letter of intent already signed for a purchase valued at $160,265. The client aimed to create a legally binding agreement that would protect and indemnify the sellers from any liabilities related to the transaction, particularly with regard to necessary approvals from regulatory authorities. As a result, the client received nine proposals from qualified attorneys, with flat fee bids ranging from $1 to $2,500, all submitted to meet the requested deadline of one week.