Re: WCCM to be sold...

[Jibguy@aol.com]

In a message dated 97-07-31 05:17:00 EDT, lawyer@world.std.com ('A. Joseph
Ross') writes:

>>  Shouldn't the purchaser of a radio station have a signed P&S agreement?
> 
>The key here is that Gowdy was "nearing an agreement."  I've never been
>involved in the sale of a radio station (Maybe Bob Bittner can speak to
>this), but I'd imagine that once an agreement is finalized, there would be
>some kind of written sales contract.  It sounds, however, as though the
>final contract to sell WCCM to Daher had not yet been consumated.   
>
>

This is not an FCC matter, but rather a local matter that any non-FCC lawyer
would handle.   If there was no written contract yet, such as a P&S
Agreement, then there was no obligation to sell the station to the car
dealer.   ---UNLESS there was the car dealer's "OFFER" which may or may not
have been accepted. If it WAS accepted by Gowdy, and the P&S was not worked
on by the time of the "Offer"s expiration date, then WCCM is up for grabs
again.   Another "Lawyer Question"....  What happens if the seller purposely
drags on past the expiration date of the "offer" knowing he'll get a better
deal.    Then what....   is the seller liable for anything in addition to a
refund of the deposit that came with the Offer?

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