Commentary

218 Assets and liabilities: stocks and equipment

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

218 Assets and liabilities: stocks and equipment

| Commentary

218 Assets and liabilities: stocks and equipment

Problems may also arise with regard to the transfer of equipment and stocks. The seller should be reminded that he has a strict liability in relation to any goods transferred with the business in relation to their description, quality and fitness for purpose1, and it may be appropriate to include appropriate exemption clauses in the sale agreement to qualify or limit his liability in these circumstances2.

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