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Legal Advice For The Gas Station Entrepreneur - Reyes Law Group

Legal Advice For The Gas Station Entrepreneur

For the Gas Station Entrepreneur the Right Lawyer is Crucial!

All lawyers are NOT created equal and the right lawyers play a key role when representing clients looking to purchase into a gas station business.  A lawyer should be a key part of your business team which should also include a business broker, banker, and insurance agent.  A lawyer can help the entrepreneur with the legal nuances of purchasing a gas station business, including the challenges, and opportunities it can present, and as a consequence, be better prepared for the initial meeting and negotiations with the seller or seller’s broker.

An experienced business attorney can help a buyer navigate the myriad of issues that should be addressed and resolved on the way to a contract and subsequent closing.  More particularly, a business attorney can help in the typical asset purchase transaction by identifying and working through issues such as:

1. Identifying the assets to be sold, generally including but not limited to machines and equipment of the station, permits and licenses, books and records, customer information or documentation, trade accounts receivable, tangible personal property, the lease agreement concerning the property and more;

2. The excluded assets, meaning what is “not included” to better protect the buyer from liability of the current corporation owning the gas station assets;

3. How inventory is to be handled – counting on day before, day of, or day after closing;

4. Review of environmental issues, contracts with suppliers, and/or oil companies involved;

5. Review of legal issues that may impact financials, the equipment, the premises, the operations, the employees, contractual matters, and an “observation” period, if any;

6. Specifics as to the purchase price – how much is to be paid, how is it to be paid, and if paid in installments, how is the balance to be collateralized in the interim;

7. Where a convenience store is involved, details on its’ operations and related concerns;

8. Due diligence time frames and specifics;

9. The representations and warranties that each party must make to the other;

10. The covenants, consents and approvals each side agrees to deliver in order to get to closing;

Closing deliverables that each party must be ready to deliver at closing in order to close, and the closing conditions that must be in place to close.
Buried in the details of this overview is where the lawyers experience, support and guidance can help a client get from the contract to the closing in a timely, efficient and professional manner.  As a consequence, having an experienced lawyer provides the legal knowledge needed to negotiate and consummate the legal demands of the purchase for the entrepreneur.

The Reyes Law Group Legal Team is focused on delivering quality legal work, solid legal advice, and providing informative, timely communication to clients and parties.  Having professional, pragmatic, and practical experience on your side will protect your legal rights, save you money and avoid headaches.  At Reyes Law Group, we value our clients, passionately represent their interests and earn their trust daily.

Carlos J. Reyes  is the Principal of Reyes Law Group. He has been a member of the Florida Bar since 1988 and practices state-wide.  Carlos has been awarded a rating of “AV Preeminent” which is the highest possible rating in both legal ability and ethical standards by Martindale-Hubbell – a well-recognized legal resource. The RLG Legal Team also include attorneys Stephan LopezMelissa J. UlloaPhillip A. Ortiz and the RLG Legal Support Team to bring you a dedicated, experienced and dynamic legal team to handle your legal needs.

We also assist clients in the areas of: Civil LitigationReal Estate LitigationResidential Purchase & SalesCommercial Acquisitions & SalesResidential Landlord-Tenant LitigationCommercial Landlord-Tenant LitigationShort Sales NegotiationsLoan ModificationsCriminal DefenseCivil Rights ClaimsFamily LawCorporate Work, and Labor & Employment Law.

Call us for a FREE consultation at (954) 369-1993. Se Habla Español.

Visit our firm website ReyesLegal.com and review our credentials.

We are located at 150 S Pine Island Rd #210, Plantation, FL 33324

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The Reyes Law Group BLOG is intended to provide information to firm clients, friends and potential clients about various legal related topics. Nothing in this BLOG should be construed as legal advice or a legal opinion. Readers should not act upon the information contained in this BLOG without seeking the advice of legal counsel.

The hiring of a lawyer is an important decision that should not be based solely upon advertisement.  Before you decide, ask us to send you free information about our qualifications.

Written by Reyes Law Group