Categories
Business Law Legal Topics

You Can Negotiate Who Takes on Risk

ThinkstockPhotos-465897648Parties negotiating a business transaction don’t have to accept the risks or duties imposed by law on the proposed arrangement. For example, just because a property owner is generally liable for damage caused by hazardous materials on his or her property (42 USC §9607) doesn’t mean that a potential buyer can’t negotiate that the seller be financially responsible for cleaning up materials that were on the property before the closing date. Here’s how to (re)allocate risk in your next transaction.