About this document
This is a shorter document, stripped down to cover the requirements of a buyer of home based trader. Covers full e-commerce provisions. It assumes no real property and no employees are to be transferred with the sale.
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 making the document his.
Note:
- Warranties have been used only so far as appropriate to the subject matter of the sale.
- 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;
- Provisions to prevent seller setting up in competition;
- Explanatory guidance notes in plain English are included.
Contents
- Interpretation
- Agreement for Sale
- The Purchase Price
- Items to be delivered at completion
- Completion
- Debtors
- Creditors and Liabilities
- Value Added Tax
- Warranties by the Seller
- Future Activities
- The Guarantor
- Communications
- Miscellaneous Matters
- Jurisdiction
Warranties covering
- Assets
- Stocks
- Accounts
- Suppliers and customers
- Licences, consents and passwords
- Insurance
- Joint ventures and partnerships
- Statutory restrictions
- Litigation
- Seller's activities
- Contracts
- Defective products and service liabilities
- 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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Hendrik J Pfaff, CFA, Stellenbosch, South Africa -
"At least get the background before you see the attorney and it might even be enough."
Balefyre (Pty) Ltd -
"...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!"
John K