You Don’t Own What’s Not Listed

professional profile

May 12, 2025

by a professional from Duke University in Windermere, FL 34786, USA

We saw an asset schedule once that said: “All equipment on site.” That’s it. Problem: the “site” also housed the seller’s hobby woodworking tools, their brother’s trailer, and a leased forklift. Buyers: get serial numbers. Get photos. Get clear. “General” language will not protect you when there’s a dispute. We write it tighter because we’ve had to clean up the loose ones. Better yet, buy "all of the assets of the Business" and let the seller list what's excluded!
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Reply by a searcher
from Harvard University in Boston, MA, USA
Great point - ambiguity's going to be a pain for everyone involved. Would love to see how you phrased "We're entitled to it, but fine, you can have that Makita miter saw back" in response to a demand letter.
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