Breach of Option Notice to Purchaser
In the business world, an option is a contract which is written for the stock exchange. Trading of stocks and shares is done by using this option. People sign this option when they wish to buy or sell the stocks and shares. There are many clauses mentioned in this agreement. By signing this agreement, both the parties agree to abide by the terms and rule.
Breach of Option:
In the world of business, it is mandatory to strictly follow the rules of contract. Breaching or violating any rule represents non-professionalism and leaves a bad impact on the breacher. In terms of business, it is necessary to fulfill the agreement gracefully and exercise the options only when it is granted to the person after specified duration mentioned in the agreement.
One cannot breach the rules merely by considering that he has the right to do so and no action will be taken against him. He may get the punishment for the breaching of an option. Hence, it is better to be careful rather than being taking foolish acts of breaching.
Notice to Purchaser for Breach of Option:
When the buyer breaches the stock agreement option, then the seller gets the entire right and authority to take action against the buyer. The seller uses the formal and legal notice named ‘’Notice to Purchaser for breach of option’’ in order to inform the buyer about the violation made by the buyer.
This notice intimates the buyer that what next step the seller would take for this breaching. The seller has to hire an attorney if he wishes to take any legal action against the buyer. The lawyer would be responsible for drafting this document to the buyer. Clearly, mention the description of breaching of option along with the punishment or next step which you are going to take such as termination of an option. It allows the buyer to be mentally prepared and take the precautionary actions accordingly. He may even discuss the issue with the seller in details after receiving this notice.