How Do I Limit My Liabilty When Purchasing an Existing Business?
Full Question:
I am a small business and need some guidance on purchasing one of our competitors. I need some help in getting some type of release of liability contract. I am purchasing only there phone number and clients.
05/04/2011 |
Category: Small Business |
State: California |
#24778
Answer:
A hold harmless agreement is one in which one person agrees to assume the liability and risk that may arise from the obligation, and protects and indemnifies the other party against having to bear any loss. An indemnification or hold harmless agreement allows the other party to the contract to be reimbursed against loss or damage.
