Can an offer to purchase both a building and a business be made in one contract by a potential buyer of both?
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Can an offer to purchase both a building and a business be made in one contract by a potential buyer of both?
Party A owns a building and Party B owns a business that operates under a lease agreement in Party A’s building.
Asked on February 6, 2013 under Business Law, Missouri
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Legally, it absolutely can be made in one contract: you can legally offer to purchase any number of different properties, assets, businesses, services, etc. via a single contract. It may not be a good idea, however, since the requirements and terms of a contract to buy a building and business are quite different, so that it may be difficult to encompass them in a single contract of sale. It may be better to have two contracts, but have each contract include a contingency (if you want) so that if the other deal falls through, you are not obligated to go ahead; i.e. the real estate contract could be made contingent on buying the business, and vice versa.
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