A business sales contract is legal document drafted whenever a business is being sold. This legal document includes details like the price at which the business is being sold and cost of assets and liabilities of the organization. This contract prevents any confusion arising out in the sale process.
Sample Business Sales Market:
This contract has been drafted on 18th December 2010 between Tangent Enterprises Limited, the seller located at 7895 Yorkshire Road, New York, North Dakota 5612 and Singular Enterprise Ltd, the buyer located at 4565 Yorkshire Road, New York, North Dakota 4512.
The contract has been made according to the laws of state of North Dakota. Both the parties have to agree to the following terms and conditions:
a) Purchase price: The purchase price of the business includes the assets of the company, the furniture, the office campus and other infrastructure. The purchase price does not include any liabilities.
b) Clearance of unpaid taxes, unpaid debts and liabilities: The seller should clear any unpaid taxes, all debts that is still due and unclear liability. If all these are not cleared then the buyer has the authority to cancel the contract.
c) Payment of purchase price: The purchase needs to be paid within one week of commencement of the contract. The amount can be paid in either cash or cheque. If the buyer fails to pay the total amount within one week, the seller can terminate the contract.
Both the parties have agreed to the terms and conditions by putting their signature below:
Rocky Balboa Forest Gump
(CEO, Tangent Enterprises Limited) (Singular Enterprise Ltd)
Dated: 18/12/2010 Dated: 18/12/2010