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Business Deed Of Sale
"I need a Business Deed of Sale for my retail clothing store in Cape Town, South Africa, including transfer of the store premises lease and existing staff contracts, with completion planned for March 2025."
1. Parties: Identification and details of the Seller and Purchaser, including registration numbers for companies
2. Background: Context of the sale, brief description of the business, and purpose of the agreement
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation
4. Sale of Business: Core clause defining the sale and purchase of the business as a going concern
5. Purchase Price: Amount, payment terms, and method of payment for the business
6. Effective Date: Specifies when the sale becomes effective and conditions for transfer
7. Assets of the Business: Detailed description of all assets included in the sale
8. Liabilities: Treatment of existing liabilities and allocation between parties
9. Warranties and Representations: Warranties given by both parties, particularly the Seller's warranties about the business
10. Handover and Transfer: Process and requirements for business handover and transfer of assets
11. Compliance with Laws: Confirmation of compliance with relevant legislation and regulations
12. Dispute Resolution: Procedures for handling disputes between parties
13. General Provisions: Standard legal clauses including notices, governing law, and jurisdiction
1. Intellectual Property: Details of IP transfer when the business includes significant intellectual property assets
2. Employee Provisions: Required when employees are being transferred as part of the business sale
3. Premises and Lease: Included when the business premises are being transferred or require lease assignment
4. Stock in Trade: Necessary when the business includes inventory that needs specific handling
5. Non-Competition: Restraint of trade provisions to protect the business post-sale
6. Training and Handover Period: Details of any transition period where the seller assists the purchaser
7. Third Party Contracts: Treatment of existing contracts when they form a significant part of the business
8. Permits and Licenses: Transfer of specific permits when the business requires special licensing
9. Environmental Matters: Required for businesses with environmental impacts or obligations
1. Schedule 1: Asset Register: Detailed list of all tangible and intangible assets included in the sale
2. Schedule 2: Financial Statements: Recent financial statements and management accounts of the business
3. Schedule 3: Employee Information: List of employees, their positions, and employment terms
4. Schedule 4: Contracts and Agreements: List of all business contracts being transferred
5. Schedule 5: Intellectual Property: Detailed list of all IP rights included in the sale
6. Schedule 6: Premises Details: Information about business premises and lease arrangements
7. Schedule 7: Inventory List: Current stock inventory and valuation method
8. Schedule 8: Excluded Assets: List of assets specifically excluded from the sale
9. Appendix A: Due Diligence Findings: Summary of key due diligence findings and disclosures
10. Appendix B: Handover Checklist: Detailed checklist for business transfer process
Authors
Retail
Manufacturing
Professional Services
Hospitality
Technology
Construction
Agriculture
Healthcare
Education
Transportation
Real Estate
Food and Beverage
Entertainment
Mining
Financial Services
Legal
Finance
Mergers & Acquisitions
Corporate Development
Risk and Compliance
Business Development
Executive Leadership
Commercial
Due Diligence
Corporate Secretariat
Chief Executive Officer
Managing Director
Business Owner
Corporate Lawyer
Legal Counsel
Chief Financial Officer
Financial Director
Business Broker
Mergers & Acquisitions Manager
Company Secretary
Commercial Director
Business Development Manager
Risk Manager
Compliance Officer
Due Diligence Specialist
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