Legal Question in Business Law in Washington

Stock purchase agreement

I purchased this form over the weekend and have question about checklist ''Do NOT USE THIS FORM IF THE SELLER IS THE 'COMPANY' WHOS STOCK IS BEING SOLD. I'm not really sure what that means. In our situation we are selling the stock of a corportion. Would appreciate an answer as we plan to close this week on the business.


Asked on 8/06/07, 3:59 pm

1 Answer from Attorneys

Susan Beecher Susan L. Beecher, Atty at Law

Re: Stock purchase agreement

It's going to be impossible for any attorney to give you a helpful answer without more information. What form are you using? What are you trying to accomplish with the form? What are the particulars of the underlying transaction? (We don't need names or dollar amounts, of course, but we need to know if the parties involved are individuals or corporations, what you hope to accomplish by the sale such as bring in another investor, or sell the entire company to a buyer through sale of stock).

Using forms purchased off the web can help you save money if you have a clear picture of what you want to do, understand what the law in your state is, and just need help with wording. However, it is always a good idea, even if you do feel confident about what you are doing, to check in with an attorney. Forms on line are necessarily "one size fits all", and most legal situations have some quirk that makes them unique. And if you are unclear about the law in your state or about what particular mechanism will accomplish what you want to accomplish, you will be way ahead financially to at least consult with an attorney before proceeding.

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Answered on 8/06/07, 4:15 pm


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