Blair Co.s top officers approached an investment bank to find a buyer for the company. The Bank

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Blair Co.’s top officers approached an investment bank to find a buyer for the company. The Bank sent an engagement letter to Blair with the following language:

If, within 24 months after the termination of this agreement, Blair is bought by anyone with whom Bank has had substantial discussions about such a sale, Blair must pay Bank its full fee.

Is there any problem with the drafting of this provision? What could be done to clarify the language?

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Business Law and the Legal Environment

ISBN: 978-1133587491

5th edition

Authors: Jeffrey F. Beatty, Susan S. Samuelson

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