Commercial Transactions Practice Areas

Contract Law
Real Estate Financing
Mortgage Law
Asset Acquisition & Sales

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Commercial Transactions:  Asset Acquisition & Sales

At Schecter Law we represent clients in the acquisition and/or sale of their business assets. We work closely with the client’s tax professional to determine whether or not an asset’s purchase and/or sale is in the client’s best interest. If an asset sale is the appropriate course of action for the client, we would then be involved in the negotiation and preparation of the letter of intent, along with the negotiation, preparation and drafting of the contract for the sale of the business assets. The sales agreement should contain, at a minimum, provisions to protect a client in the following areas:

• Description of the assets, including cash, notes, accounts receivable, inventory, etc.
• Assets not included in the price.
• Purchase price
• Prorations and allocations
• Adjustments
• Liabilities
• Employee Issues, including salaries, vacations, deferred compensation plans, etc.
• Form of payment
• Down payment
• Security for future payments
• Security documentation, including, note and security agreement
• Opinion of counsel
• Non-Competition Agreements
• Buyer’s assumption or non-assumption of contracts or other business obligations
• Seller’s representations and warranties
• Buyer’s right of inspection
• Broker’s duties, obligations and liabilities
• Formalities of closing

These are just a few of the areas which we at Schecter Law would review prior to completing an agreement for the acquisition and sale of business assets.

We at Schecter Law are proud that we have been recognized with the highest AV rating by Martindale-Hubbell. What makes this highest rating even more significant is that it is voted upon by our peers.