Disclosure Schedule example scenarios - Assignment 5 Name: to Your client signed a deal to sell their company in March. At the time, in an effort to cover any possible issue, on the material contracts representation, you worked closely with your client (the seller) to list all possible agreements that might be in breach, large or small, including a $100 agreement to buy tickets to a baseball game for 10 members of the office staff. Now, in November, the planned closing is approaching as antitrust approval has been received. However, your client's business is doing very poorly, and the buyer decides not to close on the ground of a $10,000 contract being in breach as of the closing date. This $10,000 contract is not listed in the related disclosure schedule The business being sold is priced at $2,000,000 in total on a 'locked box' basis. It has net assets of $1.5 million, annual profits of $100,000, annual revenues of $2.5 million, accounts receivable of $100,000, accounts payable of $95,000 and cash on hand of $500,000 (AR, AP and cash are included in the net assets figure). The closing condition related to reps is that the reps of the seller be "true and correct, as of the signing date and as of the closing date, in all material respects." What facts and arguments might the buyer raise to argue that they do not need to close? Better seeds bangre orolozib ono main wor What facts and arguments might you raise in response to argue that the buyer needs to close