Key Takeaways
- Advanced contract clauses (and/or assigns, broad inspection contingency, mutual release) protect in edge cases.
- Multi-layer liability protection includes entity separation, insurance, contractual risk transfer, and personal asset protection.
- Non-refundable assignment deposits ($2K-$5K) compensate for buyer defaults and incentivize performance.
- Mandatory arbitration clauses reduce legal dispute costs by 60-80% compared to litigation.
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Test Your Knowledge
1.What contract protection is most important for limiting wholesaler liability?
2.What is a double close, and when should it be used instead of an assignment?
3.What insurance coverage should a wholesaling firm maintain for contract and liability protection?