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I need a business contract reviewed for a purchase. It's 8…

I need a business...

I need a business contract reviewed for a purchase. It's 8 pages long. Is this something we can do

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Georgia

Lawyer's Assistant: What steps have you taken so far?

Have the contract ready to sign

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Answered in 47 minutes by:
4/2/2018
Lori
Lori, Attorney
Category: Legal
Satisfied Customers: 2,392
Experience: Attorney with over 25 years experience
Verified
Hello. Let me see if I can assist. Are you the seller or buyer? Can you upload the proposed agreement?
Lori
Lori, Attorney
Category: Legal
Satisfied Customers: 2,392
Experience: Attorney with over 25 years experience
Verified
Lori and 87 other Legal Specialists are ready to help you
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Customer reply replied 4 months ago
Hi Lori I'm the seller. The purchaser has also agreed to pay off the loans with business within 90 days.File is attached.Thank You
LAMAR BULLEN
Category: Legal
Satisfied Customers: 0
Verified
Phone call session started
Customer reply replied 4 months ago

Hi Lori Were you going to call me? Received a call and it went dead Thanks ** ********

I​ thought another expert stepped in on the call as it is showing completed on my end. I was away from desk. Let me review and we can proceed with the open Q&A.

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W​ho owns the other 50% interest in Gyro City Hiram LLC? Does the operating agreement allow for sale of 50% interest in the LLC? Does it require approval by the other members?

Are you a guarantor on any of the debt that is being assumed by the buyer? Is the buyer paying the debt or the LLC in the next 90 days?

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I​s Gyro City Grill trademarked? If so, who owns the mark and what happens to the mark after closing?

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Customer reply replied 4 months ago
Hi LoriI own 50% of the LLC. It's not trademarked. There is debt on the business and the seller says they pay off the debt in 90 days. One of the debts is an SBA loan for approximately $130,000.00. If you can call me tomorrow it would be appreciated,
Thanks
Ted

S​orry - I am away from desk in court. I will opt out and let other experts jump in to assist you.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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