WORLD Law Direct Forums  





Go Back   WORLD Law Direct Forums > Business & Finance Law > Starting a Business
REGISTER FAQ SEARCH Today's Posts Mark Forums Read
Personal Lawyer Legal Forms Calendar

Starting a Business Creating and operating a new business.

Getting out of a Purchase and Sales Agreement - Can I???????

Consult Your Own Personal Lawyer Now!
Reply
AddThis Feed Button
 
Thread Tools Search this Thread Rate Thread Display Modes
Old Dec 1st, 2007, 10:12 AM     #1
Junior Member
 
JohnD's Avatar
 
Last Online:
Dec 1st, 2007 10:18 AM
Join Date: Dec 2007
Posts: 1

Unhappy Getting out of a Purchase and Sales Agreement - Can I???????

I recently signed a Purchase and Sales Agreement with 2 weeks of a due diligence period. On one section of the agreement it states,"A valid lease or agreement of lease, Sublease of existing lease, or new lease shall be provided by the seller to the buyer. Buyer shall be relieved from this purchase agreement if this item cannot be satisfied by closing."
I recently saw a copy of the new lease that the seller signed just before I signed the sales agreement and there is a clause that states that the property owner can give 120 days notice to throw me out because of sale of property or tear down renovation.
My question is, can I get out of this business purchase by writing that this is not a valid lease?
HELP!!!!!!
JohnD is offline   Reply With Quote
Old Dec 4th, 2007, 02:50 PM     #2
Unregistered
 
Unregistered's Avatar
 
Posts: n/a

Default Re: Getting out of a Purchase and Sales Agreement - Can I???????

It is a judgment call for a court but 120 days means you really have no lease guarantee at all, and that really should not suffice.
  Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Add Forum to Google Toolbar | Format Your Messages

Posting Rules

Similar Threads
Thread Thread Starter Forum Replies Last Post
Purchase Agreement top_admin Legal Help 0 Mar 22nd, 2008 12:29 PM
purchase agreement montanahome Miscellaneous Topics 1 Dec 18th, 2007 06:02 PM
Sales rep and non-compete agreement Unregistered Business Contracts & Partnerships 1 Nov 19th, 2007 06:13 PM
Sales Rep NDA and Verbal Agreement Laws, Venture Capital Contact Rules nycc Business Contracts & Partnerships 2 Oct 11th, 2007 05:42 PM
Breech of Purchase and Sales agreement? Unregistered Buying & Selling Property 1 Jul 1st, 2007 11:17 AM


All times are GMT -5. The time now is 01:16 PM.


Powered by U.S. Legal Forms

Subscribe

Use of the Forums is subject to our Disclaimer which prohibits unapproved advertisements, solicitations or other commercial messages, and false, harassing or abusive statements. All postings reflect the views of the author but become the property of WORLD Law Direct.

Questions and information submitted in the Forums are assumed inquiries for general information and not legal advice.

Copyright 2000-2008 by WORLDLawDirect.com, Inc.