Legal Question in Business Law in California
buying liquor license
weel my question is regarding a transsaction of liquor license, this guy close his restaurant, and he can not transfer or sale his liquour license now, untill december 14 of this year, so he needs to be part of our corporation right now, but we going to pay him right now for that concept, and later in december his going to be out of the corporation, and get his other part of the price, for that reason he is going to be food and beverage director of our corporation, but what kind of contrat we need to sign with him to be protected with our money and our liquor license, than you very much,--name removed--
3 Answers from Attorneys
Re: buying liquor license
What kind of contract? Well,to start off, the contract should be in writing. I don't know where you (or for that matter, a lawyer representing you) could find a form contract or even a model or sample contract suitable as a starting point for this rather specialized purpose, so your lawyer will have to draft it from scratch.
I would suggestusing a lawyer who is at least somewhat familiar with the ABC's regulations, so that the contract doesn't try to do something illegal- that would invalidate the contract.
The contract should be consistent with the corporation's bylaws, both as to its terms and the way it is executed (signed).
It should cover what happens if unexpected things happen, as well as what happens if everything connected with the license transfer goes exactly as planned.
Re: buying liquor license
A thorough one, that protects all the parties from disputes and litigation later, that covers all the ABC regulations, that complies with all the corporate ByLaws and regulations, etc. Doing this yourselves, thinking a 'fill in the blank form' will work, is a prescription for disaster for all involved. If you decide to do it right, feel free to contact me to discuss the facts and fees.
Re: buying liquor license
You need to have an agreement which spells out your purchase rights and when you can excercise that right. You should have an attorney draft one for you so it is done properly.
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