Rule 101 - If you are approached by someone cap in hand wanting to buy your business when it is not for sale the smart response looks like this - we are not for sale but happy to entertain your interest on the proviso that you pay all legal fees in the event you do not proceed. Happens all the time in commercial property deals. It's called a non refundable deposit for an exclusive dealing period.
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- Ann: Costs arising in response to Non-Binding Indicative Proposal
Ann: Costs arising in response to Non-Binding Indicative Proposal, page-41
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