About this document:
Use this document template when purchasing or selling a running business of any type, kind, size or value with stock in trade, inventory, goodwill, tangible assets etc. Our document promises to address all eventualities in a transaction of this nature and marks legal significance.
The format is fit to be used for use in the sale/purchase of services, trading or manufacturing business as the case may be. The seller is the current owner.
There are no specific legal provisions that govern a legal document of this nature; you still have the liberty to make alterations and additions that exactly suit your situation or the case. With very small changes the document can be altered to use in completely different circumstances even in jurisdictions outside India.
Who will use this document?
Any proprietorship firm, partnership firm, trust or individual buying / selling a running business from a similar or different entity irrespective of its size and/or industry segment.
Key features:
· very flexible to suit most eventualities;
· suitable for any type of business;
· extensive explanatory notes;
· Appropriate legal provisions, warranties and exclusions;
· simple user friendly language;
This document includes provision for:
· very specific identification of the business, assets, liabilities and other relevant details;
· Purchase price;
· Payment schedule;
· Representations and warranties of the buyer and seller;
· Assignment of trade name etc.;
· Costs and expenses;
· Closing;
· Information exchange;
· Limitation of liabilities
· Restrictive covenants;
