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Buy And Sell Agreement for Ireland

Buy And Sell Agreement Template for Ireland

A comprehensive legal document governed by Irish law that formalizes the terms and conditions of a sale and purchase transaction between parties. This agreement outlines the specific details of the assets or business being transferred, purchase price, payment terms, warranties, and both parties' obligations. It ensures compliance with Irish commercial law, including the Sale of Goods and Supply of Services Act 1980 and related legislation, while providing legal protection for both buyer and seller throughout the transaction process.

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What is a Buy And Sell Agreement?

A Buy and Sell Agreement is a fundamental legal document used in Irish business transactions to formalize the sale and purchase of assets, businesses, or shares. This agreement is essential when transferring ownership of business assets or entire enterprises in Ireland, ensuring compliance with Irish commercial law and regulations. The document typically includes detailed provisions covering purchase price, payment terms, warranties, representations, and both pre and post-completion obligations. It serves to protect both parties' interests and clearly defines their rights and responsibilities throughout the transaction process. The agreement must comply with Irish legislation, including the Sale of Goods and Supply of Services Act 1980, Companies Act 2014, and relevant tax laws.

What sections should be included in a Buy And Sell Agreement?

1. Parties: Identification and details of the buyer and seller, including registered addresses and company registration numbers if applicable

2. Background: Context of the transaction and brief description of the subject matter of the sale

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Sale and Purchase: Core terms of the transaction, including description of assets/business being sold and purchase price

5. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, payment schedule, and payment methods

6. Completion: Details of when and how the transfer of ownership will take place

7. Seller's Warranties: Warranties and representations made by the seller regarding the assets/business being sold

8. Buyer's Warranties: Warranties and representations made by the buyer, including ability to complete the purchase

9. Pre-Completion Obligations: Actions required from both parties before completion of the sale

10. Post-Completion Obligations: Actions required from both parties after completion of the sale

11. Confidentiality: Provisions regarding confidential information and its protection

12. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction for disputes

13. General Provisions: Standard boilerplate clauses including notices, entire agreement, and severability

What sections are optional to include in a Buy And Sell Agreement?

1. Intellectual Property Rights: Required when the sale involves transfer of intellectual property assets

2. Employee Matters: Needed when the sale involves transfer of employees or employment-related obligations

3. Real Estate: Required when the sale includes property or land transfers

4. Environmental Matters: Important when the sale involves assets with environmental implications or responsibilities

5. Tax Matters: Detailed tax provisions when complex tax implications are involved

6. Non-Compete Provisions: Required when restricting seller's future business activities

7. Transition Services: Needed when seller will provide post-sale support or services

8. Data Protection: Required when personal data or customer databases are part of the sale

What schedules should be included in a Buy And Sell Agreement?

1. Schedule 1 - Assets: Detailed list and description of all assets included in the sale

2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale

3. Schedule 3 - Properties: Details of any real estate or leasehold properties included in the sale

4. Schedule 4 - Intellectual Property: List and details of all intellectual property rights being transferred

5. Schedule 5 - Employees: List of employees and their employment terms if relevant

6. Schedule 6 - Contracts: List of contracts being transferred or assigned

7. Schedule 7 - Warranties: Detailed warranties given by the seller

8. Schedule 8 - Completion Requirements: Detailed list of documents and actions required at completion

9. Appendix A - Form of Transfer Documents: Templates of transfer documents to be used at completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

Contract to Sell

Cost

Free to use
Relevant legal definitions










Clauses












































Relevant Industries

Retail

Manufacturing

Real Estate

Technology

Professional Services

Healthcare

Hospitality

Construction

Agriculture

Transportation and Logistics

Energy

Financial Services

Media and Entertainment

Education

Relevant Teams

Legal

Finance

Corporate Development

Executive Management

Operations

Business Development

Compliance

Risk Management

Procurement

Tax

Commercial

Strategy

Mergers & Acquisitions

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Managing Director

Business Development Manager

Corporate Lawyer

Legal Counsel

Commercial Director

Operations Manager

Finance Director

Company Secretary

Procurement Manager

Business Owner

Mergers & Acquisitions Director

Investment Manager

Risk Manager

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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