Warranties: Don’t make a promise you can’t keep!
Your Share Purchase Agreement will contain a (likely) long list of statements which aim to give certain assurances to the buyer that your business is in good health. These statements are known as the “warranties”. Warranties provide the buyer with some form of protection in the event that any of those statements prove to be untrue and cause the business to suffer a loss post-sale. Under those circumstances, the buyer may be entitled to bring a breach of warranty claim...
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