How to Buy a Business: Business Purchase Contracts

Jackie Durham and Jo Ann Koontz (Koontz & Associates, PL) share important information about common provisions and contingencies you need to be aware of when buying or selling a business. Business purchase contract are complicated. The contracts can be drafted in your favor or against from the other party. Reviewing these common provisions and contingencies will ensure you're prepared when negotiating a business purchase contract. 1:15 How to know what type of transaction you are in 3:01 Where do business contracts come from? Consider your own attorney 5:05 Deposit provision 9:04 Common contingencies: events or circumstances necessary to occur to close contract 10:02 Franchising approval contingency 14:40 Lease contingency 20:04 Due diligence contingency 27:31 Employee contingency 30:20 Financing contingency 35:48 Visa contingency 38:19 Familiarization clause SPEAKERS Koontz & Associates, PL | Jo Ann Koontz Koontz & Associates, PL | Jackie Durham For more information about Koontz Associates, PL: https://www.koontzassociates.com