The sale or purchase of a bookkeeping business involves different legal considerations to other types of businesses due to the nature of the assets being sold, and the way these businesses are typically valued. Valuing a Bookkeeping Business The value of a bookkeeping business is usually determined by applying a multiplier to the annual revenue…
There are essentially two ways in which to purchase a motel. You can either buy the business and the freehold, or the business and the leasehold. This article will focus on buying a leasehold motel. If you intend to purchase the leasehold, you are buying the right to occupy and conduct the business on the…
The sale or purchase of a rent roll involves different considerations to many other types of businesses due to the nature of the assets being sold and the way rent rolls are valued. 1. Valuing a Rent Roll The value of a rent roll is usually determined by applying a multiplier to the annual management…
The administration of a deceased estate can be a complex and emotional task for a legal personal representative. At Avery Commercial Lawyers, we regularly advise executors and administrators in relation to administering deceased estates, and applying for probate and letters of administration. 1. Who is an Executor? An executor is a person who has been…
The making of inaccurate, misleading or deceptive statements or representations by vendors (and their agents) in the context of business sale transactions can give rise to different rights and remedies for aggrieved purchasers under legislation and the common law. Whilst the cause of action relied upon by a disgruntled purchaser will depend upon a range…
The successful sale of a business can be greatly enhanced by some pre-planning before the sales process commences. If you want to achieve the best price, and have an efficient sale process, then your business needs to be ‘sale ready’. 1. Find your Team First, speak with your network to identify the right team of…
The sale of an industrial business such as manufacturing, wholesale, import, distribution and B2B will generally give rise to different legal issues to the sale of a retail business due to the nature of the assets being sold, the structure of the sale, and the financing and valuation of stock. Asset or Share Sale It’s…
In the context of operating a business, leasing costs will often represent one of the biggest expenses, next to wages. Importantly, too, the lease will often be critical to the viability of a business, particularly in a retail context. As such, before you enter into a lease, it’s important to appreciate that rent is only…
A restraint of trade (also known as a restrictive covenant) is a clause that seeks to restrict a party from engaging in a particular form of business or commercial activity. The underlying purpose is to protect a party’s business from competition. Some common examples include: sale of business agreements where a vendor (and its directors)…
The purchase of a commercial property will usually require a more detailed investigation into the contract terms, the title and planning information, and the lease terms than may be the case for the purchase of a residential property. A competent property lawyer should be able to assist you with understanding the principal terms of the…
