Agreements for sale of business

About these documents:
These are agreements for the sale of a business by either a company or a limited liability partnership or one or more individuals. On another page are agreements for sale of a company, with or without a business.
Before you choose your document, we strongly advise you to read our free information pages starting at Selling Your Business - Part 1.
First, we cover matters common to most or all of the agreements, then we look at each document in turn.

Who will use this document:

• these agreements are suitable for any type of trade or business. Any shareholder or prospective shareholder may propose a shareholders' agreement and offer one of these template legal documents as a draft;
• extensive use of warranties to encourage full disclosure by the seller;
  Note : warranties have been used only so far as appropriate to the subject matter of the sale.
• designed for the deal to be completed on the same day, not at some future time;
• purchase price apportioned among the assets to simplify tax planning;
• comprehensive list of matters to be done before completion and documents to be handed to the buyer;
• full account taken (for Internet businesses) of intellectual property issues such as domain name transfers and web site hosting;
• provisions to prevent seller setting up in competition;
• suitable provisions for contract to cover transfer of leasehold and freehold property;
• up to 90 individual warranties in most versions

• terms of the agreement for sale and list of subject matter of sale;
• allocation of purchase price, when and how it is to be paid;
• what happens to complete the transaction;
• dealing with counting and hand over of stocks;
• responsibility for creditors and debtors;
• seller's warranties;
• seller's future activities;
• mediation of a dispute before court action;
• other legal points.