The term “Ordinary Course of Business” is used in many business contracts including an asset purchase agreement and other business acquisition agreements. But what exactly does it mean? The term may be defined in the applicable agreement or contract or it may be left open to interpretation. That being said how the term is defined can have consequences on all parties to the agreement. Are you buying or selling a business?
If you have a question regarding your business agreements or contracts, you can speak with a business attorney at The McGuire Law Firm to discuss your specific situation.