Business Contracts Lawyers

Hi there, A repurchase agreement (often called a "repo") is a contractual arrangement where one party agrees to sell goods—like inventory or assets—with a promise to buy them back at a later date under specific terms. These agreements are commonly used to manage inventory, liquidity, or cash flow. Here is what you need to understand about your rights and obligations: Key Legal Implications of a Repurchase Agreement: Binding Commitment to Repurchase: If you signed a repurchase agreement, you are likely legally obligated to buy the inventory back under the agreed terms—regardless of your current financial position—unless the agreement provides exceptions. Review the Terms Carefully: Look closely at: Repurchase price and timeline Conditions that trigger the repurchase Default provisions or penalties Any security interests or liens the supplier may have on your other property Consequences of Defaulting: Defaulting on the agreement could expose you to: Financial penalties Loss of future credit terms Legal action for breach of contract Damages or collection efforts from the supplier Negotiation May Be Possible: If you're facing hardship, many suppliers may be open to: Renegotiating payment terms Extending the timeline Releasing you from the agreement in exchange for a settlement or return of inventory Termination & Exit Options: Review the agreement for any termination clause or early exit provisions. Some agreements allow for cancellation with notice or mutual consent. Mitigating Future Risk: Moving forward, you may want to include: Force majeure clauses Hardship provisions Caps on repurchase liability I recommend reviewing the agreement with a contract attorney to explore all options and ensure your rights are protected. If you would like help assessing the agreement and negotiating a path forward, I would be glad to assist. Best regards, Jerome Lucas Newell, Esq. Business & Commercial Contracts Attorney

Generally speaking non-competes are not enforceable in California against employees or independent contractors. The situation may be different depending on all the facts if you were an equity owner or partner in the company. Also, when a business is sold, a reasonable non-compete is enforceable against the former owner(s) since they were paid as part of the purchase price for non-competition representations. California has long had a public policy against non-compete clauses against employees and independent contractors since it affects their ability to earn a living. I am not sure what information you have about them "coming after other employees". Note: I don't have all the facts, and this answer is for informational and research purposes only.

You should sign a PSA after you have done your due diligence. You will need to look at the financials and the books of the company and complete any background check, including searching the court system for any lawsuits against the entity. Once you are comfortable with what you see, and you have the PSA reviewed by an attorney and it is in line with what the parties agreed to and protects your rights, then you can sign. As a contracts attorney that specializes in the purchase and sale of business, I can assist you with your PSA. You can find me on the website or my profile page - Donya Gordon Donya Gordon

Yes. There are at least two ways to do this. The better method is to send amendments to the TOS to all clients, and have them agree to each amendment if and when it arises. The poorer method is to simply refer to any future amendments when the client first signs the TOS as being incorporated automatically; I don't think that's a good idea.

A contract is an agreement between parties on how they are going to conduct business with each other. What is written in the contract is crucial to being able to determine what the agreement of the parties truly is. Contracts are all about the words on the page and what they say exactly. A well-drafted contract will make the responsibilities of both parties very clear. A notice provision in a contract typically will say how much time a party has to give notice to the other party before the contract is terminated. This is different than what a term provision will say. For example, sometimes contracts will have language that says a contract cannot be terminated before the expiration of a certain time period. In that case, if one party terminates the agreement, full payment of the contract is still required to be made even if the service is not rendered. Other times, the term set forth in the agreement (e.g. 15 months) serves as a guarantee of price and other terms in the agreement. For example, "Contractor agrees to perform cleaning services to the Buyer for 15 months, at $XXX per month. At the end of the term, this contract will auto renew and will continue month to month until terminated by either party." Proration is a term that is used to describe when a partial payment can be made. If the contract does not allow for proration and instead gives a monthly payment, then the full monthly payment would be due. Contracts are all about what is written specifically in the contract. If terms are missing there can be interpretation of what the parties actually meant.