Contract for Sale of Business

A Contract for Sale of Business is entered into where one party (the seller) wants to sell its business to another party (the buyer).  Download Sale of Business Contract and edit in word format.

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Sale of Business Contract

Sale of Business Contract is where one party (the seller) wants to sell their business to another party (the buyer).

In the event that the sale and purchase of the business includes the buyer purchasing real estate or taking over a lease then we recommend that legal advice be sought.

A Contract for Sale of Business up to date with recent changes in commercial leasing and other legislation affecting the sale of business.

The entire Contract is in Microsoft Word. There are not parts of the Contract that are locked for editing. Covers the following essential items:

  • Definitions & Interpretation
  • Key Person and guarantor
  • Sale and purchase
  • Price
  • Finance
  • GST
  • Title and risk
  • Continuation of business
  • Work orders
    Vendor assistance
  • Access to records and copies
  • Completion
  • Stock
  • Adjustments
  • Creditors
  • Debtors
  • Transfer of premises lease
  • New lease
    Transfer of franchise
  • Lease and hire agreements
  • Business agreements and arrangements
  • Employees
  • Superannuation
  • Restraint
  • Vendor Warranties
  • Warranties of the purchaser
  • Limits on warranties
  • Notice to complete
  • Guarantees
  • Termination of contract
  • Disputes
  • General Provisions
  • List of Annexures

21 pages long.

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sale of business contract

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Sale of Business Contract

Businesses can easily (small or large)  find themselves in trouble buying or selling a business for what is in the contract and what is not in the contract.

Be sure not to leave important  items out of a Sale of Business Contract, including hard and intangible assets and liabilities.  Not checking this can lead to headaches months after the sale goes through.

Payment terms are another critical aspect of a contract. When you draft a contract for the sale of a business, make sure both parties know exactly what they are getting at the time of signing, as well as in the future.

 

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