due diligance
Please explain ''due diligance'' when purchasing a company, and is there a menu/ road map that should be followed in doing ''due diligance''?
Asked on 1/21/03, 1:27 pm
1 Answer from Attorneys
Joseph A. McDermott, III
Attorney at Law
Re: due diligance
Due diligence is a shorthand term for the investigation that one does in advance of completing a transaction, such as buying a company. There is no set menu, but reviewing the books and records of the business, plus a thorough physical inspection of the company's assets, real and personal, would be in ln order. A lawyer should participate in all the documentation of the deal.
Answered on 1/21/03, 2:03 pm
