Sale of Business Contract (NSW)
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At a Glance
A 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.
Why Legal Practitioners and Business Owners Need a Sale of Business Contract (NSW)
A Sale of Business Contract (NSW) is essential for formalising the terms and conditions of a business sale, ensuring both buyers and sellers are protected throughout the transaction. This agreement helps mitigate risks, define obligations, and establish a structured framework for ownership transfer.
INCLUDES
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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