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Question about purchase agreements
should I use my personal name or biz name?
skunker

10+ Year Member



 
Msg#: 3686466 posted 7:05 pm on Jun 29, 2008 (gmt 0)

Hi,
Recently sold a hobby website of mine and I'm currently reviewing the contract (purchase agreement) before i sign it. However, the buyer put my personal name down as the Seller. I can change this, no problem, but my question is: what should I use in place of my name, if any, for maximum protection? I am self-employed and have a sole proprietorship. Should I put my business in place of my name?

This is just a basic question, but thought I'd get it double checked here.

 

eelixduppy

WebmasterWorld Senior Member eelixduppy us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 3686466 posted 5:05 pm on Jul 1, 2008 (gmt 0)

You might want to check with a lawyer.

LifeinAsia

WebmasterWorld Administrator lifeinasia us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 3686466 posted 5:34 pm on Jul 1, 2008 (gmt 0)

And your accountant/tax preparer.

skunker

10+ Year Member



 
Msg#: 3686466 posted 6:04 pm on Jul 1, 2008 (gmt 0)

Thans guys, but I got it squared away. We had a corporation set up a while back, I just forgot about that, lol. I've now put the name of the corporation on the contract instead of my personal name. More taxes to pay, oh well, at least I'll have peace of mind.

LifeinAsia

WebmasterWorld Administrator lifeinasia us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 3686466 posted 6:17 pm on Jul 1, 2008 (gmt 0)

You "forgot" about a corporation? How while back?

skunker

10+ Year Member



 
Msg#: 3686466 posted 6:32 pm on Jul 1, 2008 (gmt 0)

Bad choice of words. I have a corporation and closed the checking account for that about 2 years ago. I never dissolved the corporation, so I'm going to open the checking account again in the coming days.

skunker

10+ Year Member



 
Msg#: 3686466 posted 12:45 pm on Jul 4, 2008 (gmt 0)

Does anyoen know if you need to have an asset purchase agreement notarized?

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