CASE STUDIES

Because the buyer was inexperienced in the seller’s retail industry and was relying on seller financing to pay for the business, we were very careful to draft the sale contract to protect the seller in case the buyer either couldn’t successfully operate the business or failed to make payments to the seller timely. Unfortunately, and as feared, after purchasing the business, the buyer soon proved incapable of running the business profitably and failed to make timely payments to the seller. However, because of the special custom-drafted sale contract terms the Richards Brandt attorney included the sale contract to protect the seller, the seller quickly recovered ownership of the business, and was able to sell it to a different and much more capable buyer. The seller did not sustain any significant financial loss due to the first buyer’s purchase.

If you are considering the purchase or sale of a business, contact the business law attorneys at Richards Brandt to discuss how we might help you achieve a successful transaction.