Legal Question in Business Law in Florida

Buying Members
I have negotiated with a Membership Firm to aquire their Members...now its time for the agreement and I am stumped. We signed a Memorandum Of Understanding. I want to be sure that there is some type of wording that covers me incase the membership does not renew. The seller is transferring 2000+ Members and financing the cost to me over 5 years. No money up front. They will no longer provide member services, I will. They will be our Training Partner. We will ''proctor'' all tests for them and further certify those who pass. We are a not-for-profit and they are a Pensylvania FOR profit. They will also release to us all Standards Of Practice and All Member Info incl Past Test Scores. They also agree to assist in Joint Press Release as well notifying the members of the new Organization. I would be willing to provide you with the Mem Of Understanding that we signed.

Asked on 10/10/06, 9:58 pm

David Slater David P. Slater, Esq.

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Re: Buying Members

You are way off base. i suggest you retain counsel familiar with this type of deal.

Answered on 10/10/06, 10:04 pm

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