Review Asset Purchase Agreement in New Jersey for Dental Business
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Asset Purchase Agreement
in New Jersey for Dental Business.
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I am selling my e-commerce site and we have terms agreed. I am going to be presenting a purchase agreement and wanted to know if the buyer signs, is there any way he can back out?
Answered Mar 3, 2021
The answer depends on what your purchase agreement would say. You can draft the agreement to include that there is a deposit that is needed prior to the sale and if they backs out they would loose the deposit or even pay for your legal fees. Generally, a buyer may back out of an agreement but it then come at a cost. As a contracts attorney that specializes in the sale of ecommerce businesses and assets, I would be happy to assist you. You can connect with me through the website or on my profile page - Donya Gordon
What should be included in an asset purchase agreement?
I am considering buying a chain of laundry mats and have been told I would need an asset purchase agreement for the legal paperwork involved. I don't believe I want to buy the business, but am not sure. I think I would just want to buy their machines and take over their leases. If this was the case, what would I need to have in an agreement?
Answered Mar 3, 2021
As the buyer, your preference is always to by the assets rather than the existing business entity. That way, you will have greater protection against liabilities of the business that arose before your purchase. You can also structure the deal so that you're buying only those assets you're interested in, and can carve out those assets you don't want to buy. You do want an attorney assisting you, as there are pitfalls in the process, and you want to be protected. Thanks.