Business Contracts
Asset Purchase Agreement
New York
Can buyer back out of purchase agreement?
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?
1 Attorney answer
Answer
Business Contracts
New York
Donya G.
ContractsCounsel verified
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 Donya Gordon
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