vojm

Hey everybody, I'm going to be selling a majority share of my business to an interested party. We've talked over all the terms and they want me to draw up a contract for them before they put down their money.

Is there a general form template somewhere online that I can fill out? I figure I can do this part of the work and then hand it off to a lawyer to edit/change it for the final draft seeing that lawyers charge by hour no matter if they start in the beginning or in the middle.

Or do you all think it would be better to start from scratch with a lawyer and sit down and talk with them about what I want to include in the contract?

Renegade

The last thing you want to do is be cheap during this process, sit down with a lawyer and talk to them, and get them to write up the whole thing.

Will Y.

First thing to do is to indentify the type of business you are selling and the business entity type before looking for "some form template"-- transfers of pharmacies are different from restaurants, which are different from gas stations, etc...

Then use "Google" to do a search for sales/business transfer forms, preferably from the same state where the business is located and regarding the same business type so the legal principles are consistent, as substantive laws sometimes do differ between jurisdictions.

However, once you get a form or three, you need to bring everything to a lawyer who has experience with the formation and transfer of the specific business type in that jurisdiction to advise if the forms are decent or miss some major/minor concerns.

G/L.

NSXNEXT

iTrader: (2)

Amazing what people ask for on this forum.

If your business (or stake in the the business is worth more than HIRE A LAWYER!!!!

doopstr

Lawyer

vojm

Thanks for the opinion.

BubbaMarkTL

any idiot who goes to a website forum...about cars no less....for business advice has no business BEING in business...

vojm

F-U BubbaMarkTL, I'll admit that I didn't know everything first hand when starting my business, but everything turned out good and someone is interested in buying it from me. I ask on the forum just to see what the feedback I get because I respect some people on here. I don't base my decisions solely on what this forum says.

Since I'm making money on this deal, I don't see anything IDIOTIC about the way I operate. So you can just take your comment and shove it.