Readers are encouraged to consult their own legal counsel to obtain the legal advice they need regarding any particular legal matter.Certain government employees are required to file a public financial disclosure report (OGE Form 278e). The content of this article is provided for general information purposes only and does not constitute legal advice. ![]() From the seller’s perspective, this could be a concession to convince the purchaser to do a deal. You can protect yourself by getting an indemnity agreement from the seller, promising to be responsible for any unforeseen liability that could arise for a period after the sale. Consider an indemnity agreementĮven if you and your team have gone over every piece of documentation, you could still be liable for something the seller did or failed to do before handing over the business. Make sure you obtain good legal and financial advice before moving forward with any deal. You’ll also want to examine a number of documents: Contact the municipal government to determine if the company has appropriate licences and if the current use of property is permitted.Contact the Workers Compensation Board to make sure the seller is in good standing.Check for pending lawsuits, human rights complaints or bankruptcy filings.Ensure that there haven’t been any registrations pursuant with Section 427 of the Bank Act. ![]()
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