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Purchase and Sale Agreement - Can I get out??

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  • Purchase and Sale Agreement - Can I get out??

    I recently signed a Purchase and Sales Agreement for a small business 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?

  • #2
    Re: Purchase and Sale Agreement - Can I get out??

    See your other post

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    • #3
      Re: Purchase and Sale Agreement - Can I get out??

      my partner bought a boat and 16 months ago he signed the boat over to me for money he owed money and for standing by him when nobody else did we were fitting the boat out and until he started work in march this year i paid for nearly everything we have now split up and i am going to sell the boat as i am the registered owner is my ex-partner entitled to anything i have told him i may agree to him buying a bigger boat with some off the money but it has to be in my name he will not agree to this and wants it in joint names but i have a few misgivings about this one-can he be allowed to take` the boat anywhere in the country as long as he tells me whether i agree or not two can he take another person to live on tbe boat with him whether i agree or not and three if he was to die could his children from first marriage claim half of the boat

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      • #4
        Re: Purchase and Sale Agreement - Can I get out??

        The registerd owner will normally control it and make the decisions if you are not married.

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