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Contract Terms Purchase and Sale Agreements

Goodwin

Maximizing Value in Master-Planned Communities: How to Effectively Negotiate Builder Purchase and Sale Agreements

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The investment strategy historically adopted by investors in the US commercial real estate market has transformed notably in recent years, driven in part by evolving patterns in consumer demand and shifting economic...more

Stark & Stark

Understanding the Right of First Refusal Clause in Real Estate Transactions

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What is a right of first refusal clause in a real estate transaction? A right of first refusal, “ROFR,” may be considered a common clause seen in real estate agreements. But the effects of an ROFR can be quite harmful if...more

Holland & Knight LLP

The Scope of "As-Is" Provisions in Your Vessel's Purchase and Sales Agreement

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An "as-is" provision in a purchase and sale agreement is a key component of said agreement. As such, litigation over the scope of this type of clause is noteworthy. While an ongoing dispute in the U.S. District Court for the...more

Bowditch & Dewey

Sometimes an Offer to Purchase Is just an Offer to Purchase

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The question of enforceability of an offer to purchase real estate was addressed by the Massachusetts Appellate Court in McCarthy v. Young, 105 Mass. App. Ct. 203 (2025). In this case, the buyer offered to purchase real...more

Blake, Cassels & Graydon LLP

La Cour d’appel de l’Ontario clarifie la clause d’option d’achat

L’affaire récente 1785192 Ontario Inc. v. Ontario H Limited Partnership, 2024 ONCA 775 (l’« affaire Ontario H Limited Partnership ») démontre qu’un acheteur qui omet de payer la totalité du prix d’achat fixé conformément à la...more

Blake, Cassels & Graydon LLP

Ontario Court of Appeal Clarifies Option-to-Purchase Clause

The recent case of 1785192 Ontario Inc. v. Ontario H Limited Partnership, 2024 ONCA 775 (Ontario H Limited Partnership) demonstrates that a purchaser who fails to tender the full purchase price required under an...more

DarrowEverett LLP

When Silence Is/Isn't Golden in Commercial Real Estate P&S Agreements

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While sellers typically initiate the first drafts of commercial real estate purchase and sale agreements, some larger buyers have the leverage to require use of their own form agreements. Sellers in these situations should be...more

Mayer Brown

MAC/MAE clauses: English Commercial Court delivers guidance in the context of $1.2 billion mining dispute

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The English High Court has held that a geotechnical event ("GE") at a mine in Brazil did not engage the material adverse effect ("MAE") clause in an SPA, pursuant to which two mines in Brazil were being sold for $1.2...more

Bennett Jones LLP

Killing the Deal (Anticipatory Repudiation in a Real Estate Purchase)

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Once an agreement of purchase and sale for real estate is signed, the path to closing and the rules of closing are firmly engrained, both in the terms of the contract and in principles of law and equity. You don’t get to...more

Strafford

[Webinar] Structuring Liquor License and Other Permit Clauses in Hotel Purchase and Sale Agreements - May 20th, 1:00 pm - 2:30 pm...

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This CLE course will cover the negotiation and structure of permit and license clauses in hotel purchase sale agreements, with an emphasis on liquor licenses. Our panel will discuss pitfalls in drafting and high priority...more

Genova Burns LLC

New Jersey’s New Flood Risk Information Law Goes Into Effect: Penalties for Nondisclosures In Sales and Leases (both Commercial...

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Beginning on March 20, 2024, the new NJ law requires sellers of real property and landlords to make disclosures regarding known and potential flood risks in purchase and sale agreements and new leases and renewals. ...more

Gray Reed

Zoning Fundamentals – What Developers and Builders Need to Know

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What is zoning and how does it work? In simple terms, zoning refers to a city’s ability to regulate property owners’ use of their land within its corporate boundaries. For instance, a city may prohibit commercial...more

Hinckley Allen

Ensuring Seller Accountability: Post-Closing Options for Buyers

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When it comes to real estate transactions, buyers are protected by the Purchase and Sale Agreement which operates as a contract between the buyer and seller. Purchase and sale agreements typically contain numerous...more

Gray Reed

Merger Clause Defeats Claim to the Farmhouse

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Barkley v. Connally, a “bet-the-farm” case if there ever was one, invokes the merger clause, a basic principle of contract law. Clients and lawyers: Read this analysis so as to avoid boundless grief and disappointment for...more

Gray Reed

A Day Made a Difference in This Purchase and Sale Agreement

Gray Reed on

And what a difference it was! In Apache Corp. v. Apollo Expl. LLC et al, Apache and others acquired an oil and gas lease on 100,000+ acres in the Texas Panhandle. The primary term was three years. The effective date was...more

Gray Reed

A Harsh Result From a Lopsided Indemnity Agreement

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Wagner v. Exxon Mobil Corporation is an example of the misfortune that can befall the purchaser who assumes the burden of comprehensive, one-sided indemnity obligations. We will disregard evidentiary and other issues in this...more

Gray Reed

Arbitration Over Offshore Leases Does Not Warrant Lawsuit Dismissal

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Just because parties agree that disputes over a contract will be subject to binding arbitration doesn’t mean there won’t be wrestling at the courthouse beforehand. In LLOG Exploration Offshore, LLC v. Samson Contour Energy...more

Bennett Jones LLP

Seller Beware: Ontario Court of Appeal on Requirements to Exclude Statutory Warranties and Conditions

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The Ontario Court of Appeal recently released Pine Valley Enterprises Inc v Earthco Soil Mixtures Inc [Pine Valley], which reminds businesses that all sales of goods are subject to warranties and conditions under the Sale of...more

Stikeman Elliott LLP

“Commercially Reasonable Best Efforts”: B.C. Court Provides Guidance in Context of Purchase and Sale Contract

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In Sutter Hill Management Corporation v. Mpire Capital Corporation (Sutter), the British Columbia Court of Appeal found that the acquiror of an Abbotsford, B.C. care home had breached the purchase and sale agreement by...more

McDermott Will & Emery

Does the ADP in Your LNG SPA Meet Your Needs?

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It’s that time of year again when the sellers and buyers of many of the world’s long-term liquefied natural gas (LNG) sales and purchase agreements (SPAs) must agree on the Annual Delivery Programme (ADP). In past years, this...more

Bilzin Sumberg

Trial Court Order Enforces Condominium Declaration’s Pre-Suit Mediation and Arbitration Provisions

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Analysis of Coach Homes II at Gran Paradiso Condominium Association, Inc. v. Lennar Homes, LLC et al, Amended Order Granting Motion to Dismiss or Stay, No. 20 CA 003307 NC (Fla. 12th Cir. Ct. June 28, 2021)....more

Gray Reed

Texas Court Re-iterates the Need For Clearly Defined Contract Terms

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In Apollo Exploration, LLC v. Apache Corp., Texas’ 11th Court of Appeals analyzed several provisions of purchase and sale agreements in a complex oil and gas transaction and demonstrated a measured, text-centered approach to...more

Latham & Watkins LLP

Tackling “Long COVID” in PE Acquisitions - 4 Symptoms for Dealmakers to Examine and Treat

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From potential cartel behaviour to repaying government loans, deal teams should remain alert to lingering issues rooted in a company’s response to the pandemic. The recovery of the European PE market since the early days of...more

Foley & Lardner LLP

Empty Promises: Contractual Modification Without Consideration Leaves Franchisee Without Recourse

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Contractual deadline extensions are doled out as a matter of course—and as a matter of courtesy—every day. This is especially the case when the parties are involved in a long-term business relationship, which is frequently...more

Farrell Fritz, P.C.

Seller Beware: “Ordinary Course” and “Material Adverse Effect/Change” in the Age of COVID-19

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In late November of last year, the Court of Chancery in Delaware handed down a decision in a case called AB Stable VIII LLC v. MAPS Hotels and Resorts One, LLC ...more

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