Before signing any contract relating to the sale of commercial or industrial property, it is very important that you understand some of the fundamental issues relating to the transaction. There is no cooling off periods applicable to these contracts so proper advice should be obtained from your lawyer and preferably your accountant, before a contract is signed, to ensure the contract protects your interests.
The amount of ‘red tape’ associated with transactions seems to be increasing and you are now far more exposed to a contract dispute with the other party, if the contract is not prepared correctly. This guide has been prepared to highlight the key legal principles, so you can achieve a far better understanding of what the transaction entails and protect your own interests. There are also plenty of practical examples to demonstrate the legal principles in real life scenarios.
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