Happy Accidental Essay

489 WordsSep 30, 20122 Pages
What Is the Meaning of Due Diligence? By J.S. Nogara, eHow Contributor Due diligence is a concept that is inherent in most types of transactions. The goal of due diligence is to provide parties to a transaction all possible information such that the person can make an informed determination and essentially enter into a transaction with open eyes. Read more: What Is the Meaning of Due Diligence? | eHow.com http://www.ehow.com/facts_5142206_meaning-due-diligence.html#ixzz26v4MtGbh 1. Definition o Due diligence is the act of performing a reasonable investigation into the facts and circumstances of a transaction to ensure a full and complete understanding of the transaction. Real Estate o When a person purchases real estate, that person should practice due diligence to make sure the property is in decent condition. Due diligence in a real estate transaction includes, but is not limited to, a review of the surveys, an engineer's inspection of the property, a check on any outstanding violations on the property, a review of any building permits and/or certificates of occupancy for the property and taxes due on the property. o Sponsored Links  Due Diligence Worldwide offices Know-how, experience & resources i-factanalysis.com/due_diligence Business Sales o When purchasing a business, it is necessary to perform due diligence. Such due diligence includes, but is not limited to, reviewing the corporate formation, valuation of the business property, the past financial information of the business, assets of the business, debts and liabilities of the business, the projected financial outlook of the business and any ongoing contracts. Contracts o When entering into a contract, it is necessary for the parties to enter with a full understanding of the terms of the contract and the subject matter. Therefore, the parties should perform due diligence in order to

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