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Home Q&A Forum Is due diligence part of a business purchase agreement?

Business Contracts

Business Purchase Agreement

North Carolina

Asked on Oct 16, 2023

Is due diligence part of a business purchase agreement?

I am looking to purchase a business and am currently in the process of negotiating a business purchase agreement with the seller. As part of this agreement, I want to ensure that due diligence is included, as it is an important factor in ensuring that the business meets my expectations. I am interested in understanding what role due diligence plays in a business purchase agreement and what considerations I should make to ensure that it is included.

1 Attorney answer

Answer

Business Contracts

North Carolina

Answered 271 days ago

N'kia N.

ContractsCounsel verified

Business Lawyer
Licensed in North Carolina
Free Consultation

Due diligence is an important aspect of a business purchase agreement. Like due diligence in real estate transactions, in a business purchase, due diligence is the buyer's opportunity to verify material facts and circumstances. This is why, in many cases, the buyer will condition the offer to purchase upon due diligence. A prospective buyer should consider consulting with a knowledgeable attorney before executing a business purchase agreement.

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