Contract risk brief 01
One failed deal left a company owing $137,300.
The lesson is not simply “do not breach.” A safe acquisition defines who may sign, proves the money exists, controls when ownership moves, and writes the failure path before either side becomes trapped.
Before the signature
Build the closing sequence, not just the promise.
A deal document should tell both sides what must be true, what proof is required, when money and control move, and what happens if the deal cannot close.
- 01
Verify authority
Confirm who owns each company and who may bind it before anyone signs.
- 02
Verify funding
Require proof that the buyer can pay, then make payment a condition of closing.
- 03
Sequence the transfer
Move ownership, access, and valuable assets only after the agreed closing conditions are met.
- 04
Write the failure path
State what happens to deposits, documents, control, and damages if financing or performance fails.
What Locke Law checks
Turn the deal into a controlled operating record.
- Parties, ownership, and signing authority
- Price, deposits, financing, and payment proof
- Milestones, acceptance, closing, and transfer
- Default, cure, termination, refunds, and evidence
Start with the agreement and the next decision. Do not upload evidence until Locke Law confirms the private matter workspace.
Start a private contract review