How a Wholesale Business Hired a Lawyer to Draft a Business Purchase (all docs) in New York

In 2023, a business in New York sought assistance with drafting comprehensive documentation for the purchase of a granite distribution company. The client had reached an oral agreement to acquire a business with various assets, including inventory and equipment, as well as certain liabilities such as bank loans. Their primary goal was to formalize this transaction while ensuring the current owner remained with the business for a year, during which they would receive operating profits and a substantial salary. As a result, the client received nine proposals from licensed lawyers, with flat fee bids ranging from $1,500 to $10,000. All proposals were submitted in time to meet the client's deadline of less than one week.