attorney michael margrave

LETTERS OF INTENT: SHORT OR LONG FORM?

Over the years, I have seen many business purchase/sale transactions. This blog will focus on one question that has always intrigued me. When the initial document presented by a prospective buyer to a prospective seller for consideration is a document often called a letter of intent (LOI), is it better dealing from a long-form or …

BUSINESS SALE CAVEATS FOR SELLERS – PART II

In my previous blog, I reviewed the concerns a seller should have when taking back a good chunk of the purchase price of the business in the form of a deferred promissory note when the note provides for subordination to a senior lender with respect to most of the deferred portion. This proposed transaction seems …