What happens if the sale transaction only covers the company`s assets such as the customer list, real estate, equipment and machinery, as well as good business or good business, but not the entire business unit by selling the shares? An asset sale contract is a contract covering the sale and purchase of tangible and intangible assets of a business. The seller owns assets of __________ ________ The main question to be solved is exactly what is being bought and sold. A distinction should be made between, for example, a purchase of shares or a sale of assets. In the event of a sale of assets, the assets of the business are transferred to a new owner without the beneficial ownership of the business being transferred. If assets are sold to keep the business going, businesses can sell fixed assets if they have no other value to the business. All warranties relating to the goods that have been shipped must also be included in the contract, including the language in which the duration of the company`s liability for damage to the delivered goods is discussed. Any additional provisions related to a sale must be clearly defined in the agreement. A specific closing period should be indicated, as well as the time and place where the parties will meet to conclude the transaction. All assets that are part of the transaction, but not part of the sale, should be listed to avoid confusion about the agreement.
AGREEMENT ON THE PURCHASE AND SALE OF ASSETS THIS contract of purchase and sale (the contract) is drawn up in two original copies and enters into force from [date]. PURPOSE 1.1 Buyer agrees to purchase and Seller agrees to sell to Buyer, as a continuation business, all businesses and assets owned by Seller in connection with the [type of transaction] operated as [YOUR BUSINESS NAME] under [YOUR FULL ADDRESS] (the „Transaction“), including without limiting the general quality of the foregoing: tangible fixed assets may be listed separately or mentioned in the agreement. These include office furniture, computers, literature, inventory, telephone installations, tools and equipment. The conditions of sale and the price should be indicated in the contract. A given language should be used in the simple aid purchase agreement, which talks about the buyer`s responsibility for liabilities that may be related to assets. If there are unpaid invoices with suppliers or sellers, it should be agreed, before the end of the sale, whether the buyer bears the debts. . . .