This week we’ve been asked to give advice on a 50 page business sale agreement. The purchaser price is about $650,000, so it needs to be right.
Our client has been waiting about 6 months for the seller to provide a sale agreement.
We were given a PDF to review. We printed it and re-scanned it so that we had a searchable PDF, which makes it a lot easier to track where definitions are used for example. We spent about an hour reviewing the contract.
We met with our client for two hours on Tuesday afternoon, amended the agreement to better reflect the deal, correct various problems and give some better protection to our client.
We created a redline comparison between the new version and the old version to highlight the changes and e-mailed it to the client to review.
We spoke with the client for 45 minutes yesterday, amended the document as we spoke, created another redline-amended comparison which we e-mailed to the client to pass on to the buyer.