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 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.
We give you more information about these procedures in the drafting notes that come with each document.
Contents
- Interpretation
- Agreement for Sale
- The Purchase Price
- 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
This document was written by an attorney for Net Lawman. It complies with current South African law.
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"...Yes very useful. I understand the terminology etc as I've seen a fair few legal docs before. Notes are very helpful. Gives me some base insight without the expense of a solicitor!"
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