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Topic History of: Canceling a purchase agreement
Max. showing the last posts - (Last post first)
Author Message
Samantha Usually the courts will look to the "4 corners of the document." If there is no escape route in the document, then client can look to seller for a buy back.

I actually had this happen to one of my clients. The best thing to do is open up negotiations with the seller asap. If you can show fraud in the financial statements, or some other sort of deception on th epart of seller then you will at least have a claim.

In the end, if the client made a bad business decision in purchasing the business for the paid paid, then your client may not have any recourse. The best that will come out of this bad deal is that your client learned a valuable lesson.

I alway recommend to client not to rush into anything and to hire the right professionals to help you make an educated business decision.
Tomas P. Client walks into my office and asks if he can cancel a purchase agreement that he signed a few days back.

The agreement is silent as to cancelation or revocation. Client was not represented by counsel.

There is no evidence of duress, incapacity or other.

Any recommendations?
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