I need someone to help me review a contract for a client.
This client purchased a small company a few years ago and was mislead about the financials and is essentially being "screwed" by the sellers. Our client, "the buyer" would like to know about his options for exiting the business with the smallest losses - he wants to take whatever he can and start a new, similar business. Our client created the contract and is looking for different strategies to leave the business while sustaining minimal losses. The total price for the business was $175,000. He paid $30,000 upfront, and is paying $2,800 each month to the sellers. He is currently 2 months behind in payments. The business is not making any money and he has already used up all of his savings to fund the business. He would like to take at least 40% of the equipment and materials to start his own company elsewhere. He also wants to take the website and onlinestore that we created for him.
You must provide different strategies or scenarios for our client to leave the business so that he can start his own company. He also wants to take at least 50% of the equipment and the website that we created for him.
The contract is only 6 pages long. It is a typical "Purchase Agreement".
We are a marketing company and we created the website and other marketing materials for the client.
14 freelancers are bidding on average $157 for this job
we are a team of lawyers having a combined experience of more than 40 years in drafting, vetting and reviewing various kinds of commercial contracts and agreements.
I am a US based consultant with immediate availability to work on your project. I look forward to working with you on this project and would consider this a trial run for future business. Regards, Paranos.