Can I check whether the business's contracts contain automatic renewal terms that might trap me later?

Yes, and reviewing material contracts for automatic renewal (and related notice-period) clauses is a standard part of proper contract due diligence, not an obscure detail. Automatic renewal terms — where a contract renews itself for another period unless one side gives notice within a specific window before it expires — are common in leases, service agreements, equipment rentals, and supplier contracts, and they can quietly lock a new owner into terms nobody actively chose, simply because the notice window passed unnoticed during a change of ownership.

This is particularly worth checking for contracts you're actually planning to end or renegotiate once you take over, since discovering an automatic renewal only after the cancellation window has closed can leave you bound to another full term on terms you never intended to accept. It's also worth checking pricing and term-length within these clauses specifically, since some automatically renew at increased rates rather than simply continuing on the same terms.

Have your lawyer review all material contracts specifically for renewal mechanics, notice deadlines, and pricing changes on renewal, and calendar any approaching notice windows immediately after closing so you don't lose the chance to act. A Treadstone business lawyer can flag these clauses as part of your due diligence review.