Asset purchase and sale agreement. Enters into asset purchase agreement for the sale of joes crab shack and brick house tavern tap. You are ready to purchase the assets of a business and you want to define the terms and conditions upon which the purchase will occur. A purchase of business agreement is a contract used to transfer the ownership of a business from a seller to a buyer. 1 dmslibrary0130619772v3 for immediate release ignite restaurant group inc.
A sales and purchase agreement is a legal contract that details the terms of a transaction and obligates a buyer to buy and a seller to sell the product. The sale of your franchised business to a third party requires that you enter into special contracts with them. You can sell the whole legal entity that is your business the complete package of assets and liabilities. A purchase agreement sometimes called a sales contract or purchase contract defines the terms of a transaction of goods.
An examination of the key provisions of an ma asset purchase agreement including representations warranties covenants conditions and more. Notice the information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Names of the seller buyer and business including the location of each. List of all assets included in the sale including fixtures furnishings equipment.
Due to the variances of many local city county and state laws we recommend that you seek professional legal. Business disposal of limited liability ltd companies can be done in two ways.