Legal Question in Business Law in California

Need help to find right agreement for a liquor store purchase.
We are in the process of buying a liquor store. I called Alcohol Beverage Control (ABC) to find out if the license can be transferred to our name. Per a representative at ABC, owner can not transfer or sell the license to another party for one more year. I talked to the owner and he said he needs to sell it because he can not manage it anymore and he is willing to get into a contract that we can run the business for another year. Once one year has passed he will transfer the license to our name.
Now we want to make a contract where it will list that we are buying the business from the owner and after one year he will transfer the license to our name. Where purchase price includes fixtures, and license transfers.Also in the contract I want included is that we will pay him partial amount for the purchase price and once the transfer is completed we will pay him the outstanding balance.

Asked on 3/03/04, 3:24 pm

4 Answers from Attorneys

Joel Selik www.SelikLaw.com

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Re: Need help to find right agreement for a liquor store purchase.

While I no longer handle matters such as these, I would think you would be foolish not to have an attorney representing you on this purchase.

Joel Selik

Answered on 3/04/04, 10:18 am

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Christopher M. Brainard, Esq. C. M. Brainard & Associates - (310) 266-4115

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Re: Need help to find right agreement for a liquor store purchase.

Contract attorney needed? You may contact me. 310-266-4115

Answered on 3/03/04, 3:38 pm

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Bryan Whipple Bryan R. R. Whipple, Attorney at Law

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Re: Need help to find right agreement for a liquor store purchase.

I think you need a properly-written contract, and also a little consultation with a lawyer who is familiar with ABC regulations and policies. The situation you describe needs a bit more investigation before you begin writing the contract. Your ZIP suggests you are in Sacramento. There are probably a lot of good ABC licence specialists there.

I think you face substantial risks during the one-year no-mans-land where there will be serious questions about who's in charge and who is responsible for this and that. Be very cautious and protect yourself well with good advice, good contracts and good collateral.

Answered on 3/03/04, 6:47 pm

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