QUESTION
In a asset sale, do the buyer immune from contingent liabilities of the seller and thus full legal dd is not necessary?
Asked on Dec 28th, 2017 on Business Law - California
More details to this question:
I am buying a small business and want to avoid inhering contingent liabilities. Will an asset sale serves the purpose?
1 ANSWER
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Doland & Fraade
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An asset sale will cut off claims as to the assets transferred so long as you follow the "bulk transfer" procedures.
I have no idea whoa a "full legal dd" means.
Answered on Dec 29th, 2017 at 7:53 AM