Final answer:
A lawyer must ensure that a client purchasing a small printing business is well-informed about the risks, especially concerning the unlimited liability of a sole proprietorship, and must encourage the seller to seek independent legal advice.
Step-by-step explanation:
A lawyer representing a client in the purchase of a small printing business needs to act with professional diligence and ensure that the interests of their client are appropriately protected. If the seller chooses not to retain legal counsel, the lawyer must still proceed ethically, which involves ensuring the seller understands the implications of the transaction and encouraging them to seek independent legal advice if necessary. The lawyer should also clearly communicate that they represent only the buyer's interests.
It's crucial to consider the legal structure of the business being purchased, as a sole proprietorship comes with unlimited liability. The buyer needs to be informed about the risks and potential debts and obligations associated with taking over such a business. The lawyer must ensure that due diligence is conducted, and all necessary legal documents are in order to protect the client's interests upon purchase.