Free Business Sale Contract Template
Business Sale Contract
Table of Content
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Introduction
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[Your Company Name] Information
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Client Information
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Effective Date
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Business Purchase Agreement
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Rights and Obligations
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Purchase Price, Payment Terms, Assets Included in the Sale, Liabilities Assumed, and Any Other Relevant Terms
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Compensation and Benefits
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Confidentiality and Non-Disclosure
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Dispute Resolution
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Governing Law
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Signatures
1. Introduction
This Business Sale Contract (the "Contract") is entered into as of [Effective Date], by and between [Your Company Name], a [Legal Entity Type] organized and existing under the laws of [Your Jurisdiction], with its principal place of business at [Your Company Address] ("Seller"), and [Buyer's Name], a [Legal Entity Type] organized and existing under the laws of [Buyer's Jurisdiction], with its principal place of business at [Buyer's Address] ("Buyer").
2. [Your Company Name] Information
Seller hereby represents and warrants that it is duly organized, validly existing, and in good standing under the laws of [Your Jurisdiction]. Seller has full power and authority to enter into this Contract and to carry out its obligations hereunder.
3. Client Information
Buyer hereby represents and warrants that it is duly organized, validly existing, and in good standing under the laws of [Buyer's Jurisdiction]. Buyer has full power and authority to enter into this Contract and to carry out its obligations hereunder.
4. Effective Date
This Contract shall become effective as of [Effective Date].
5. Business Purchase Agreement
Seller agrees to sell, transfer, convey, assign, and deliver to Buyer, and Buyer agrees to purchase from Seller, all of Seller's right, title, and interest in and to the business known as [Business Name] (the "Business"), including all assets, properties, rights, and goodwill related thereto, as a going concern.
6. Rights and Obligations
6.1 Seller's Rights and Obligations: Seller shall provide Buyer with all necessary information, assistance, and cooperation to facilitate the transition of the Business to Buyer.
6.2 Buyer's Rights and Obligations: Buyer shall pay the Purchase Price (as defined below) and assume all liabilities of the Business as of the Closing Date (as defined below).
7. Purchase Price, Payment Terms, Assets Included in the Sale, Liabilities Assumed, and Any Other Relevant Terms
7.1 Purchase Price: The total purchase price for the Business shall be [Purchase Price] ("Purchase Price").
7.2 Payment Terms: The Purchase Price shall be paid by Buyer to Seller as follows: [Payment Terms].
7.3 Assets Included in the Sale: The assets included in the sale shall include, but are not limited to, [List of Assets Included in the Sale].
7.4 Liabilities Assumed: Buyer shall assume all liabilities of the Business as of the Closing Date.
7.5 Other Terms: [Any Other Relevant Terms].
8. Compensation and Benefits
Seller shall not be obligated to provide any compensation or benefits to Buyer or any other party, except as expressly provided herein.
9. Confidentiality and Non-Disclosure
Each party agrees to keep confidential all information relating to the Business and the terms of this Contract, except as may be required by law.
10. Dispute Resolution
Any dispute arising out of or relating to this Contract shall be resolved by arbitration in accordance with the rules of [Arbitration Service].
11. Governing Law
This Contract shall be governed by and construed in accordance with the laws of [Your Jurisdiction].
12. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Contract as of the Effective Date.
Date: [DATE SIGNED]
Print Name: [Your Name]
Date: [DATE SIGNED]
Print Name: [BUYER'S NAME]
