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Home Q&A Forum Governing law in a purchase and sale agreement?

Business Contracts

Purchase And Sale Agreement

Washington

Asked on Sep 9, 2023

Governing law in a purchase and sale agreement?

I am in the process of purchasing a business and have been presented with a Purchase and Sale Agreement. I am looking to better understand the governing law that would be applicable to this agreement, and any potential implications for the agreement. I am looking for advice on the law that would be applicable to this Purchase and Sale Agreement, and the potential implications for the agreement.

1 Attorney answer

Answer

Business Contracts

Washington

Answered 309 days ago

Merry A.

ContractsCounsel verified

Business Lawyer
Licensed in Washington
Free Consultation

Good morning - I am a WA State attorney. The purchase and sale agreement should, itself, specify the governing law that would be applicable; if that term is not already part of the PSA you were presented, it should be added. If you are buying a business in WA, normally the PSA will say that WA law will apply, but if you are buying a franchise, it's possible that the PSA will say something like that law of Delaware may apply. Washington has good governing law for this type of agreement. I also suggest that you discuss any concerns with your buyer's agent, and possibly request a WA State attorney to review all the documents before you sign anything.

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