Sample business sale agreement

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This sample Business Sale Agreement can be modified and used in any State in the United States. The sample on which this preview is based is 7 pages, including a Schedule "A" attached for listing all of the assets of the business included with the sale. The sample includes a clause requiring that all disputes under the agreement be submitted to mediation at least 30 days before the filing of any legal action or the noncomplying party is not entitled to attorney fees.

The author is a freelance paralegal who has worked in California and Federal litigation since 1995. Note that the author is NOT an attorney and no guarantee or warranty is provided.

Published in: Business, Economy & Finance
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  • sir i need a contrect of sale of whole private company.......to another private company..........
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Sample business sale agreement

  1. 1. To subscribe to my FREE weekly legal newsletter visit http://freeweeklylegalnewsletter.gr8.com/ and enter your e-mail address. To view over 250 sample legal documents for sale by LegalDocsPro visit http://www.scribd.com/LegalDocsPro/documents Be sure to remove these notices before using this document. BUSINESS SALE AGREEMENT This Business Sale Agreement is made this _________day of _________, 20__ by and between ____________________ and _____________________ (doing business as _____________________) of ________________________ ____________________ (hereinafter referred to as "Seller") and _________________________________ (hereinafter referred to as the "Buyer"). Whereas the Seller desires to sell and the Buyer desires to buy the business of a certain _______________________ now being operated at ____________________________ and known as ______________________ , including all assets thereof as contained in Schedule "A" attached hereto, NOW, THEREFORE, and in consideration of the mutual terms, obligations, covenants and conditions herein contained, the parties hereto agree and covenant as follows: 1. TOTAL PURCHASE PRICE: The total purchase price for all fixtures, furnishings and equipment is $___________ Dollars payable as follows: 1
  2. 2. (a) $____________ paid in cash; certified or bank checks, as a deposit upon execution of this Agreement, to be held by __________________. (b) $___________ additional to be paid in cash, certified or bank checks, at the time that all relevant papers have been signed by both Seller and Buyer. (c) $_________ to be paid by a note of the Buyer to the Seller, bearing interest at the rate of _____ percent per annum. The Buyer shall have an option to prepay the entire outstanding obligation without any pre-payment-penalty. Said note shall be secured by a chattel mortgage and financing statement covering the property to be sold hereunder, together with any and all other property acquired during the term of said note and placed in or within the premises known as __________________________ ____________________. 2. CONVEYANCE OF PROPERTY: The property to be sold hereunder shall be conveyed by a standard form Bill of Sale, duly executed by the Seller. 3. CONDITION OF TITLE TO PROPERTY: The Seller promises and agrees to convey good, clear, and marketable title to all the property to be sold hereunder, the same to be free and clear of all liens and encumbrances. Full possession of said property will be delivered in the same condition that it is now, reasonable wear and tear expected. 4. CONSUMMATION OF SALE: Consummation of the sale, with payment by the Buyer of the balance of the down payment and the delivery by the Seller of a Bill of Sale, will take place on or before ______________, 20__. 2
  3. 3. 5. PROCEEDS OF SALE: The Seller may use the purchase money, or any portion thereof, to clear any encumbrances on the property transferred and in the event that documents reflecting discharge of said encumbrances are not available at the time of sale, the money needed to effectuate such discharges shall be held by the attorneys of the Buyer and Seller in escrow pending the discharges. To view the sample document on which this preview is based visit: http://www.scribd.com/doc/135811240/Sample-Agreement-for- Sale-of-Business 3

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