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If a seller, for example, is counting on the proceeds of the sale of an existing house to buy a new one -- a relatively common occurrence -- it might be important for the seller to have a firm closing date on the existing house so as not to risk violating the terms of the contract to buy the new one.
And, Mr. Altman said, while a time-is-of-the-essence closing date is generally more beneficial to the seller than the buyer -- because the seller has the assurance that there will not be a delay -- setting a firm closing date can be troublesome for the seller as well.
Business owners can limit the likelihood of drunkenness by serving food and nonalcoholic drinks as well as booze and having a firm closing time.
Similar(54)
The firm closed in 2000.
The firm closed its doors upon his retirement in 2004.
The firm closed two new funds totaling $1.5 billion in February.
The firm closed most of its operations in 1998.
But shares in the firm closed down 11percentt at $62.30.
Stephen McGill, 51, had planned to take a break after his Manhattan graphic design firm closed last spring.
On Thursday, the large private equity firm closed at $22.05, only 5 cents above its offering price.
Portugal has lately aided Continental, a German tyre maker, to expand even as the firm closes a plant in Sweden.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com