27. Electronic signatures. This agreement, the agreements that are part of this Agreement and the related documents concluded under this Agreement are signed when the signature of a party is served by fax, email or other electronic media. These signatures must be treated in all respects as if they had the same strength and effectiveness as the original signatures. 14. The “provision” of the transaction in this agreement includes the sale, merger, exchange or transfer of all or part of the transaction, with the exception of the assets sold in due form. This definition includes, without limitation, the transfer or sale of a portion or the total stock of shares of a company. What is the broker`s contract? 6.4 Full agreement. This agreement constitutes the whole agreement between the parties and any agreement or prior representation of any kind that predates the date of this agreement does not engage any of the parties to this agreement, unless it is included in this agreement.
You can see where I`m going: Real estate follows a highly standardized cookie cutter process. This is not the case when it comes to business placement. Finally, you may or may not want your lawyer to look at the business broker`s contract before signing it. It seems obvious, I know. The reason it`s worth mentioning is that if the broker says something, even remotely in the line of “oh, you don`t need your lawyer to look at that,” they run the other way. Fast! A 10-page contract may indicate that the broker has experienced difficulties in the past and believes that a “tooth” contract is necessary to protect their interests. No one likes to sign a big, hideous contract, and your lawyer will probably advise you not to. The underlying problem behind a big ugly contract is often that the broker has either poor judgment when it comes to choosing clients, and/or a bad process.
Both are operational problems that no contract will solve. Many business owners are starting to embark on the process of selling their business thinking it will be similar to selling a piece of property. No matter where you live, the experience of selling (or buying) a home is almost identical. The commission is 6% of the selling price. There will be one agent for the buyer and one for the seller, and they will share the commission uniformly. The documents – including the listing agreement – are drawn up by the State Real Estate Commission. Make sure you understand what is in the sale price or “transaction value” before agreeing to pay a commission to the broker. You don`t want to argue with a business broker about their commission later, if you work together to make a deal.
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