I am calling this issue the legal issue. Many of our contributors are attorneys, and we here at ABSR have a generally favorable view of good buy sell lawyers. Besides being valuable contributors, however, attorneys are also very valuable team members if you are buying or selling a dealership.
This week, our first column, from Fred O’Halloran of MD Johnson, Inc., discusses in general terms the many benefits of using an attorney with experience doing dealership buy sells. For example, did you know you don’t have to submit your real estate purchase agreement to the manufacturer? You only have to provide a lease to prove to the manufacturer you have a place to do business for at least 5 years. Read Fred’s column and learn more.
Our second column this week, by attorney George Taylor, provide an excellent illustration of one of Fred’s points regarding warranties and representations. I didn’t plan that; it was synchronicity.
Just when you thought it couldn’t get any better, you can then turn to Transaction News!