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 […]
Introduction: Arbitration has become a popular alternative to court proceedings for resolving disputes. It offers a range of benefits, including privacy, informality, and efficiency, making it an attractive option for many businesses. However, like any legal process, it also has its downsides. This article will explore the advantages and disadvantages of arbitration clauses to […]
Completing a real estate transaction as a Buyer can be a complex process. Once the Buyer and Seller have a contract of purchase and sale in place and the conditions have been satisfied, the Buyer’s lawyer will conduct a land title search and review any charges on the title. The Buyer’s lawyer will also prepare […]
Purchasing a home in British Columbia is an exciting and significant milestone. However, the process can be intricate, and it is crucial for Purchasers to include specific standard conditions in their purchase contracts to protect their interests and ensure a smooth transaction. The following are examples of conditions: Buyer Financing: Including a financing clause in […]
Signing a residential real estate contract is a significant part of buying or selling a property, as it governs the legal obligations of the Buyer and Seller. Consulting a lawyer before signing a real estate contract is recommended for the following reasons: Legally Binding Document: A lawyer will review the contract with you to ensure […]
Our Corporate and Commercial clients should take notice that Bill 41 – 2022: Workers Compensation Amendment Act (No. 2), 2022, received Royal Assent on November 24, 2022 (the “Amendments”). These Amendments introduce important changes to BC’s Workers Compensation Act (the “WCA”). This has many implications for how employers are expected to deal with injured workers. […]
7 Reasons to Update Your Will and Related Estate Planning Documents End of life and incapacity planning are among the most important tasks an individual can complete to ensure that their assets, personal care, and health care are handled appropriately. While it’s not pleasant to think about one’s own death or potential incapacity due to […]