Business & Commercial Due Diligence Solicitors

Liabilities

When buying a business or a company, some of the most important questions are:

• Are you buying any liabilities or debts?
• Are they included in the sale?
• Do they come as part of the deal?

Generally speaking, the sale of a company (i.e. a share sale) includes the debts whereas the sale of a business (i.e. an asset sale) excludes any debts. That is not always the case.

We therefore make enquiries to discover:-

• What is owed by the business (including tax, hire purchase and credit agreements)?
• Who does the business owe that money to (e.g. a leasing company)?
• When do the payments have to be made?
• Which items of equipment are covered by those payments?
• Who is to make those payments?
• What happens if those payments aren’t made?

As experienced business Solicitors, finding out the answers to these questions is all part of our job and allows us to provide you with expert advice for your protection.

Call Business Lawyers Direct today on 0845 371 0701 or contact us via our online enquiry form and one of our senior solicitors will be pleased to discuss your requirements.