Entries by Heath Law, Nanaimo Lawyers

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Securing Employee Matters

Key employees are vital to a business’s success, and purchasers may include a condition precedent related to negotiating arrangements with these employees. This ensures that essential staff members are retained and motivated during the transition.   Compliance with Applicable Laws and Regulations: Purchasers need confidence that the target business is in compliance with all applicable […]

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Purchase of a Business – What Are Usual Or Typical Conditions Precedent That a Purchaser Would Want in an Asset Purchase Agreement

Introduction: Before completing an asset purchase agreement, prudent purchasers include conditions precedent to ensure certain essential requirements are met. These safeguards protect their interests, mitigate risks, and pave the way for a successful acquisition. In this blog post, we’ll explore the typical conditions precedent that purchasers seek to assert in an asset purchase agreement to […]

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What are the usual adjustments in the purchase or sale of a home in Nanaimo?

In British Columbia, certain adjustments need to be considered to ensure a fair distribution of costs between the Buyer and the Seller. Adjustments are typically based on the Buyer and Seller’s ownership of the property throughout the year. There are many potential adjustments that may be required in a transaction. However, in this article, we […]

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Vendor Financing in Business Sales: Security/Collateral and Key Considerations for Sellers

What is Vendor Financing?   Vendor financing is a financing option where the seller of a business provides financial assistance to the buyer to help them complete the purchase. Many business sales involve vendor financing for at least a portion of the purchase price.   Why do Sellers Offer Vendor Financing?   Vendor financing offers […]

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Purchase of a Business – What Are Usual or Typical Conditions Precedent That a Purchaser Would Want in a Share Purchase Agreement

Introduction Acquiring shares in a company is a momentous decision that demands careful consideration and protection of the buyer’s interests. Within a share purchase agreement, conditions precedent play a pivotal role in safeguarding the purchaser’s investment. In this blog post, we’ll explore the vital conditions that purchasers typically seek in a share purchase agreement to […]

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Key Differences Between an Asset Purchase and a Share Purchase in Business Acquisitions

Introduction: When buying a business in British Columbia, two primary methods are available: an asset purchase and a share purchase. Each approach comes with its own legal, financial, and tax implications, and understanding these differences is crucial for making an informed decision that aligns with the buyer’s goals. This blog post will explore the key […]

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Understanding the Usual Terms for a Letter of Intent in British Columbia Business Purchase

Introduction: A letter of intent (LOI) is a valuable tool for parties seeking to assess their initial agreement on significant business terms before diving into formal purchase and sale negotiations. Acting as “term sheets,” a LOI streamlines the creation of final binding agreements. Common LOI Terms Parties: Clearly identify the involved parties accurately, providing their […]

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What are standard conditions that a Purchaser of a vacant residential lot may want in a contract where they intend to build a home?

This article will explore the conditions that a Purchaser may want to consider when buying a vacant residential lot in British Columbia. Due Diligence Period: One of the first conditions that should be included in the purchase contract is a broad due diligence period. This allows the Purchaser to conduct thorough investigations into the property […]

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The Advantages and Disadvantages of Arbitration Clauses

Introduction:   Arbitration has become a popular alternative to court proceedings for resolving disputes. It offers a range of benefits, including privacy, informality, and efficiency, making it an attractive option for many businesses. However, like any legal process, it also has its downsides. This article will explore the advantages and disadvantages of arbitration clauses to […]