Thursday, September 13, 2007

My worse fears may come true. Part II

When I first read the purchase agreement, it
gave me the creeps. It wasn't that I thought
the agreement was illegal, because I didn't
know whether it was or not, there was just
some items that didn't seem to fit right to me
and didn't feel right. There are times when
you do not need anyone to tell you something
is wrong. You just know it is.

As mentioned in my earlier post, I had two
different lawyers review the purchase
agreement and their responses were telling.
Although the agreement is legal, it's not a
good agreement for me. They didn't tell me
that, but their behaviour did. Lawyers can
read a contract and get a sense of what's
really going on, what the likely intentions
of the other party is, and thus the likely
outcome. If it's not good for you, you'll get
very little assistance, if any, from the lawyer
once they've read the agreement.


The lawyer may not have addressed all your
concerns or dismissed or minimized those
raised by you. That's a good indication that
you have to take a closer look at the purchase
agreement and make certain there is nothing
in the agreement that can potentially harm
you. That's what I had to do.

Both Seller and Buyer have the right to add
conditions to the purchase agreement to protect
their interests. Now, a corporation may not see
it that way, but all parties to the agreement
have the same rights. So don't let the
corporation bully you, because it will try
to by extension of its representatives. The
corporation only wants you the Seller to act
in its interest not your own. This is a problem
that I presently encountering.

In later posts I will identify the name of the
corporation and provide more information on
my situation. Until then, take care.

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