I am buying a restaurant. Should I sign a purchasing agreement w/o current leasing agreement?

Asked on May 28, 2009 under Business Law, California

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You should not sign a single document without having a lawyer look at this deal.  You want to conduct some due diligence to determine what you are buying here.  Once you buy the restaurant you bought it.  In these times, the restaurant biz is not making much money.  You want to find out what the appraised value of the restaurant is and so forth.  I dont know your details but it sounds like you should have a lawyer involved.  dont do the deal without a lawyer.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.