We typically follow the steps below with our clients:

1. First, we seek to understand your matter and determine the scope of work. Contact us with your query or document requiring review, we will then assess and provide you with a fee proposal for the scope of work.
2. Once you accept our quote, and provide funds in our trust account, we will collect the required information from you and begin work.
3. Our findings and advice will be sent to you for comment and questions.
4. We will work with you to answer any questions you may have, and finalise any documents required to complete the work.

West Perth Legal offers fixed fees for drafting a tailored legal agreement or providing legal advice on an existing agreement at a competitive market rate. The exact fee will depend on the situation and the complexity of the agreement.

Contact us for an obligation free quote.

This depends on your business and complexity of the transaction. Speak to a lawyer to understand the full implication of your transaction, and the legal compliance required.

Generally, a Business Sale Agreement should include key elements such as:

• A description of the business being sold, including assets and liabilities
• The purchase price and payment terms
• Goodwill
• A list of included assets (e.g., equipment, inventory, intellectual property)
• Employee entitlements and obligations
• Warranties from the seller regarding the business’s financial standing
• Non-compete and confidentiality clauses to protect the buyer’s interests
• Dispute resolution mechanisms

Generally, a Business Sale Agreement is legally binding once signed, and its terms cannot be unilaterally changed. However, both parties can negotiate amendments if they mutually agree to do so. It is essential to document any changes in writing to maintain a clear record of the agreement. If disputes arise, having a well-documented process for amendments can help in resolving issues. Engaging a lawyer during negotiations ensures that any modifications are legally sound and protect the interests of both parties.

Before signing a Business Sale Agreement, conducting thorough due diligence is crucial. For buyers, this may involve reviewing financial statements, tax returns, contracts, and employee agreements to assess the business's value and liabilities. Additionally, check for any legal issues, compliance with regulations, any ongoing litigation and outstanding debts. Sellers should ensure their records are accurate and organised, as providing clear information can facilitate a smoother sale. For buyers, involving legal and financial professionals in the due diligence process can help uncover potential issues and protect your investment.

Warranties in a Business Sale Agreement are assurances provided by the seller regarding specific aspects of the business, such as its financial health, ownership of assets, and compliance with laws. If any of these warranties are found to be false or misleading, the buyer may have the right to seek compensation for losses incurred. In Western Australia, including well-defined warranties protects the buyer and can influence the purchase price. It is essential to work with a lawyer to draft clear and enforceable warranty clauses that reflect the specifics of the business being sold.

Without a Business Sale Agreement, both parties are exposed to significant risks. The buyer may not have legal recourse if undisclosed liabilities arise, while the seller may face disputes over payment or obligations. Additionally, key terms like asset transfers, warranties, and non-compete clauses would remain undefined, increasing the likelihood of disputes. A comprehensive agreement is essential to protect both parties, ensure transparency, and provide legal certainty in business transactions.

In most cases, you do not need to physically come to our office. Our lawyers are accessible via telephone and teleconference for instructions. Drafting or legal advice can be provided and sent to you via email. However, if you prefer a face-to-face meeting, you are welcome to visit our office.