QUESTION
Does lack of collateral invalidate an offer to buy my partners share of the business?
Asked on Oct 11th, 2012 on Business Law - New Jersey
More details to this question:
Given that the seller will be paid over time, but only one partner has the collateral to back the promissory note, and considering all other things equal, does this likely represent a decided difference in the eyes of the court?
1 ANSWER
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Your question is, unfortunately, lacking sufficient facts and context in order to provide a useful response. If you have a question about a buyout arrangement, you need to discuss them with your attorney, who can review all of the underlying documentation and the economics proposed.
Answered on Oct 11th, 2012 at 10:39 AM