Business sale agreement

About this document

This is a shorter document, stripped down to cover the requirements of a simple business with no e-commerce. It does not cover a retailer of goods. It assumes no employees are to be transferred with the sale. However, it does include for VAT and a simple website. These references can be removed easily if not required.

It is usual for the buyer to produce the sale document but there is no reason why the seller should not obtain an advantage by making the document his.

Note:

• Warranties have been used only so far as appropriate to the subject matter of the sale.
• Designed for the deal to be completed on the same day, not at some future time;
• List of matters to be done before completion and documents to be handed to the buyer;
• Provisions to prevent seller setting up in competition;
• Explanatory guidance notes in plain English are included.

Contents

• Interpretation
• Agreement for Sale
• The Purchase Price
• Items to be delivered at completion
• Completion
• Debtors and Liabilities
• Value Added Tax
• Warranties by the Seller
• Future Activities
• Communications
• Miscellaneous Matters
• Jurisdiction

Warranties Covering

• Accounts
• Suppliers and Clients
• Licences, consents and passwords
• Joint ventures and partnerships
• Statutory restrictions
• Litigation
• Seller's activities
• Contracts
• Intellectual property
• Internet domain names
• General