Memorandum of Sale
Memorandum of Sale
Date: [Month Day, Year]
I. Parties
This Memorandum of Sale ("Memorandum") serves as a preliminary agreement between [Your Company Name] ("Seller"), with its principal place of business located at [Your Company Address], and [Your Partner Company Name] ("Buyer"), with its principal place of business located at [Your Partner Company Address], regarding the sale and purchase of [100%] of the shares in [Your Company Name]. Both parties acknowledge their intent to proceed with the sale and are committed to working together in good faith to complete the transaction.
II. Transaction Details
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Sale of Shares/Assets: The Seller agrees to sell, and the Buyer agrees to purchase, [100%] of the shares in the Seller's company.
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Purchase Price: The total purchase price for the shares is [$1,000,000] ("Purchase Price"). This amount is to be paid as follows: a deposit of [$200,000] upon signing this Memorandum of Sale, with the remaining [$800,000] to be paid within [30 days] of the effective date.
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Effective Date: The sale and transfer of ownership will be effective as of [Month Day, Year].
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Representations and Warranties: The Seller represents and warrants that [Your Company Name] is in good standing, free from encumbrances, and has no pending litigation.
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Confidentiality: Both parties agree to maintain the confidentiality of the terms and conditions of this sale and any proprietary information disclosed during the transaction.
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Governing Law: This Memorandum of Sale shall be governed by and construed in accordance with the laws of the state of [State], without regard to its conflict of laws principles.
The parties acknowledge and agree to the terms and conditions set forth in this Memorandum of Sale. This document is executed as of the date first written above.
Seller's Signature:
[Your Name]
[Job Title]
[Your Company Name]
[Month Day, Year]
Buyer's Signature:
[Name]
[Job Title]
[Your Partner Company Name]
[Month Day, Year]
