REVIEW OF THE ACQUISITION AGREEMENT.
The Agreement contains the necessary legal terms and conditions, including your
concerns about not acquiring debts. However, I noted the following that you might
interrogate; –
i. The agreement is referred to as an “Investment Contract” on page 1 of the
contract, the introduction of parties on page 2, and section 1.03. This is a bit
confusing, as the agreement should be an acquisition agreement, not an
investment one. The two are totally different types of agreements.
ii. Section 1.04, instead of the partners having administrative permissions, it
should state the partners have administrative access to all software—the word
Permission inclined to sound more like not being in charge.
iii. Under section 1.05, No. 0.5 should clearly indicate that administrative and
complete ownership will pass to the partners when the sale is complete. As it
is now, it is vague on what happens after signing the agreement.
Besides the abovementioned concerns, the agreement is legally sound and protects
you.
Regards.
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