jayjay2012
Nov 12, 2012, 11:33 AM
We have entered into an agreement to sell my business
All conditions were met, however now the buyer and his lawyers are not sending back the lease transfer agreement. My lawyer has sent it numerous times with specific instructions for them to sign it and return.
Three initial conditions for the agreement were
1) confirmation of gross daily sales
2) assignment of lease
3) buyer obtaining financing
Last we heard the buyer was obtaining a new head lease from the landlord to satisfy his bank. The closing date is in 5 days. We have fulfilled all our obligations. Does he forfit his deposit?
All conditions were met, however now the buyer and his lawyers are not sending back the lease transfer agreement. My lawyer has sent it numerous times with specific instructions for them to sign it and return.
Three initial conditions for the agreement were
1) confirmation of gross daily sales
2) assignment of lease
3) buyer obtaining financing
Last we heard the buyer was obtaining a new head lease from the landlord to satisfy his bank. The closing date is in 5 days. We have fulfilled all our obligations. Does he forfit his deposit?