Conditions Precedent – What is it and what does it mean? In real estate or commercial purchase contracts, “Conditions Precedent” are specific conditions or requirements that must be fulfilled or satisfied by either the buyer or the seller (and in some cases both) before the contract becomes legally binding and enforceable. These conditions act as […]
Key employees are vital to a business’s success, and purchasers may include a condition precedent related to negotiating arrangements with these employees. This ensures that essential staff members are retained and motivated during the transition. Compliance with Applicable Laws and Regulations: Purchasers need confidence that the target business is in compliance with all applicable […]
Introduction: Before completing an asset purchase agreement, prudent purchasers include conditions precedent to ensure certain essential requirements are met. These safeguards protect their interests, mitigate risks, and pave the way for a successful acquisition. In this blog post, we’ll explore the typical conditions precedent that purchasers seek to assert in an asset purchase agreement to […]
In British Columbia, certain adjustments need to be considered to ensure a fair distribution of costs between the Buyer and the Seller. Adjustments are typically based on the Buyer and Seller’s ownership of the property throughout the year. There are many potential adjustments that may be required in a transaction. However, in this article, we […]
What is Vendor Financing? Vendor financing is a financing option where the seller of a business provides financial assistance to the buyer to help them complete the purchase. Many business sales involve vendor financing for at least a portion of the purchase price. Why do Sellers Offer Vendor Financing? Vendor financing offers […]
Introduction Acquiring shares in a company is a momentous decision that demands careful consideration and protection of the buyer’s interests. Within a share purchase agreement, conditions precedent play a pivotal role in safeguarding the purchaser’s investment. In this blog post, we’ll explore the vital conditions that purchasers typically seek in a share purchase agreement to […]
Introduction: When buying a business in British Columbia, two primary methods are available: an asset purchase and a share purchase. Each approach comes with its own legal, financial, and tax implications, and understanding these differences is crucial for making an informed decision that aligns with the buyer’s goals. This blog post will explore the key […]
Introduction: A letter of intent (LOI) is a valuable tool for parties seeking to assess their initial agreement on significant business terms before diving into formal purchase and sale negotiations. Acting as “term sheets,” a LOI streamlines the creation of final binding agreements. Common LOI Terms Parties: Clearly identify the involved parties accurately, providing their […]
This article will explore the conditions that a Purchaser may want to consider when buying a vacant residential lot in British Columbia. Due Diligence Period: One of the first conditions that should be included in the purchase contract is a broad due diligence period. This allows the Purchaser to conduct thorough investigations into the property […]
Completing a real estate transaction as a Seller in Nanaimo involves various steps and considerations. The Buyer’s lawyer prepares almost all of the documents in a real estate transaction. The Seller’s lawyer will review the agreement of purchase and sale as well as the remainder of the transaction documents to ensure the Seller’s interests are […]