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Legal Question of the Day
19 October 2026
A solicitor is approached by two long-standing friends who each own 50% of the shares in a private company. One shareholder wishes to leave the business and has agreed to sell his entire shareholding to the other for £400,000. After the sale, the buyer will own 100% of the company.
The shareholders are on excellent terms and have already agreed the price. They want the same solicitor to act for both of them to keep the transaction simple and reduce legal costs.
The solicitor will need to prepare the share purchase agreement, including provisions dealing with warranties and potential liabilities of the company.
Which of the following best describes what the solicitor should do?
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