In this weeks ‘The Counsel You Keep’ – John Gallagher from Argon Law on the Sunshine Coast outlines the provisions and protocols involved in contracts for the sale of small business’ in QLD.
Whilst there are many things to do before a contract of sale is prepared, once a party has offered an acceptable price you should talk to your lawyer or broker about drawing up a term sheet and a contract. John outlines the information and key matters within both a term sheet and contract, the provisions involved in the sale of a business, as well as an explanation of the conditions found within a standard form of business sale contract published by the real-estate institute of QLD.
Always ensure you seek professional advice for your specific circumstances, the above is intended to be general in nature.
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