Business Transactions

Why do we need attorneys to handle business transactions?

Horror Story—At Klose and Associates, we handle business transactions and legal malpractice. Sometimes the legal malpractice arises from business transactions. Take for example one of our clients who had a successful restaurant on the east side of Manhattan. After operating for several years, the owner of the building changed and our client received notice that his fifteen-year lease would be terminated. The attorney failed to review the lease, which had been negotiated between the prior owner of the restaurant and the building owner. Deep within the lease was a clause that permitted the new owner to cancel the lease upon the transfer of the building. The Bottom Line—business people often hate to pay lawyers to draft and review contracts, but what happens if you miss that term which ruins your business? Hire professionals and demand professional service.

Serving business owners throughout upstate New York and the Hudson Valley area, Klose & Associates is dedicated to providing business transaction assistance. Our firm handles a wide variety of business transactions that may have an impact on your business. We use technology to communicate, investigate, and accomplish your goals. Whether you are a consultant, speculator, or a business owner, you would benefit from an attorney interested in your business, ready to explain the ramifications of each decision.

Purchase and Sale of Retail Pharmacy

  • What
  • Common issues
  • Due diligence

Purchase and Sale of Establishments of Liquor Licenses

  • What
  • Common issues
  • Due diligence

Purchase and Sale of Gas Stations

  • What
  • Common issues
  • Due diligence

Purchase and Sale of Restaurants

  • What
  • Common issues
  • Due diligence
Contracts

What is a contract?

A contract is a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. In general, in order for a valid contract to be established there must be an offer, the other party must accept the offer, and there has to be some type of consideration or bargained-for exchange between the parties. Some contracts must be in writing in order to be enforceable. Contracts that must be in writing include:

  • A contract of an executor or administrator to answer for a duty of his decedent
  • A contract to answer for the duty of another
  • A contract made upon consideration of marriage
  • A contract for the sale of an interest in land
  • A contract that is not to be performed within one year from making thereof
  • A contract for the sale of goods for the price of $500 or more
  • A contract for the sale of securities
  • A contract for the sale of personal property not otherwise covered, to the extent of enforcement by way of action or defense beyond $5,000 in amount or value of remedy

What are common terms in a business contract?

  • Identify parties and their addresses
  • Purpose
  • Duties required by each party
  • Rights each party is entitled to
  • Relevant dates
  • Amount and method of payment
  • Warranties
  • Disclaimers
  • Limitations on liability
  • Confidentiality
  • Arbitration clause
  • Governing law
  • Venue for the possibility of a lawsuit

Vendor contracts, employment contracts, and franchise agreements are just some of the types of contract matters that our firm handles on behalf of small business owners. We review and negotiate contracts, along with drafting them in order to suit the needs of the business.

What types of terms are important to young businesses?

  • Termination
  • Good Guy Provisions
  • Ownership and Operation of the Business
Real Estate

We handle various commercial real estate transactions on behalf of small business owners. The real estate issues we help guide business clients through include the review, drafting, and negotiation of buy/sell agreements, purchase agreements, sale of business property, and lease issues.

What are the Steps to a Real Estate Transaction?

  • Due Diligence
  • Building Inspector
  • Title
  • Environmental
  • Zoning
Business Start-ups

Why do you need a lawyer?

Why Klose & Associates

From the conception of a business idea, it is in your best interest to have advice from an experienced small business lawyer. We provide assistance to small business owners who are just starting businesses. Our firm can help you determine the best type of formation to suit your business goals, along with structuring contracts to get your business off the ground.