This agreement for the sale or purchase of a business contains basic terms for a sale of the assets of a business on a going concern basis (that is, that the business will function without the reasonable threat of liquidation for the foreseeable future).
This eleven page document contains 14 clauses covering
- sale and purchase
- conduct of business before completion
- action after completion
- debts and liabilities
- contracts and employees
- law and jurisdiction
- a general clause addressing further assurance, variation, the scope of the agreement, representation, severability, assignment and third party rights.
This contract is suitable as a template either for the sale of a small business which is not established as a limited company, or for the sale of stock and other assets by a limited company.