Business sale agreement: takeaway food retailer

About this document

This is a comprehensive agreement for the sale and purchase of a business by an individual, a company or any other organisation.

Note:

• Not suitable for sale of shares in a company. For a company sale, see our Company sale agreements section.
• It is usual for the buyer to produce the sale document but there is no reason why the seller should not obtain an advantage by providing the first draft.
• Warranties have been used only so far as appropriate to the subject matter of the sale. The drafting notes contain a thorough explanation of how warranties work.
• The purchase price may be apportioned among the assets to assist in tax planning.

Contents

• Interpretation
• Agreement for Sale
• The Purchase Price
• Items to be delivered at completion
• Completion
• Stocks
• Debtors
• Creditors and Liabilities
• Value Added Tax
• Warranties by the Seller
• Future Activities
• The Guarantor
• Communications
• Miscellaneous Matters
• Jurisdiction

Warranties covering

• Assets
• Stocks
• Accounts
• Employees
• Suppliers and customers
• Licences, consents and passwords
• Insurance
• Statutory restrictions
• Litigation
• Seller’s activities
• Contracts
• Properties
• Leasehold properties
• Intellectual property
• Internet domain names