Legal Question in Business Law in California
We are looking into buying a business and then reselling the same business concurrently. Have shortlisted buyers/sellers. also like to know the payment proposed, if any, prior to the due diligence..And if this payment would be refundable.
Asked on 10/08/14, 2:47 pm
1 Answer from Attorneys
William Christian
Rodi Pollock
This is up to negotiation between the buyer's and seller's. Hope you have the ability to close one if your resale falls through. These deals are notoriously fragile. THis is one of the reasons most sophisticated sellers want to see proof of funds to be able to perform before they sign any agreement. Otherwise they are simply giving you an option, and you are not paying for it.
Answered on 10/08/14, 2:53 pm
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