First Circuit Holds Earn-out May Imply Duty of Reasonable Efforts For Buyer | Practical Law

First Circuit Holds Earn-out May Imply Duty of Reasonable Efforts For Buyer | Practical Law

An update on a First Circuit decision concerning whether a purchase agreement with an earn-out contained an implied contractual term under Massachusetts state law requiring the buyer to use reasonable efforts to develop and promote the acquired business.

First Circuit Holds Earn-out May Imply Duty of Reasonable Efforts For Buyer

Practical Law Legal Update 8-500-6521 (Approx. 4 pages)

First Circuit Holds Earn-out May Imply Duty of Reasonable Efforts For Buyer

by PLC Corporate & Securities
Law stated as of 04 Nov 2009 • Massachusetts
An update on a First Circuit decision concerning whether a purchase agreement with an earn-out contained an implied contractual term under Massachusetts state law requiring the buyer to use reasonable efforts to develop and promote the acquired business.