Sale of a Business Agreement (with employees)

R660.00

Moneyweb Insider Gold subscribers receive 12.5% discount!

EXPLANATORY NOTES FOR THE SALE OF BUSINESS AGREEMENT- WITH EMPLOYEES

This is a robust agreement that has been drafted or companies and close corporations that are selling their businesses as going concerns. Accordingly, it caters for the take-over of the seller’s staff and its employment obligations.

NOTE: this is an agreement for the sale of a business and NOT for the sale of shares.  

This agreement is subject to suspensive conditions and resolutive conditions (relating to non-paying debtors); please consider whether competition commission approval is required.

Moneyweb Readers: R 660.00 Incl VAT
Moneyweb Insider Gold subscribers: R 577.50 incl VAT

Want a discount? Become a member by purchasing Moneyweb Insider Gold subscription.

SKU: MNY-BUSINESS-AGREEMENT-WITH-EMPLOYEE-001 Category:

Description

Moneyweb Insider Gold subscribers receive 12.5% discount!

EXPLANATORY NOTES FOR THE SALE OF BUSINESS AGREEMENT- WITH EMPLOYEES

This is a robust agreement that has been drafted or companies and close corporations that are selling their businesses as going concerns. Accordingly, it caters for the take-over of the seller’s staff and its employment obligations.

NOTE: this is an agreement for the sale of a business and NOT for the sale of shares.  

This agreement is subject to suspensive conditions and resolutive conditions (relating to non-paying debtors); please consider whether competition commission approval is required.

PLEASE NOTE this agreement must be used in conjunction either with the unilaterally-applicable confidentiality undertaking that the seller may require of the purchaser, or the bi-laterally applicable confidentiality agreement that both parties may require of each other; both of the latter legal documents are available on this site and their conclusion is a suspensive condition of the sale of business agreement. Please ensure that the necessary confidentiality document is purchased and executed PRIOR to the conclusion of the sale of business agreement. Please also ensure that the necessary individual confidentiality undertaking is purchased.

IT IS NECESSARY to ensure that the relevant confidentiality arrangements are in place, especially if the transaction does not go through. All necessary confidentiality undertakings (both corporate and individual) as well as confidentiality agreements are available for sale on this site at nominal prices.

This SALE OF BUSINESS agreement:

  • is legally substantive (12 pages in total); please feel free to look at the explanatory notes below and compare the substance of this agreement to others for sale elsewhere;
  • is bordered;
  • has pages numbered;
  • is fully justified;
  • is typed up using Tahoma font, size 10; single=spacing;
  • has been meticulously spell-checked;
  • is extremely professional in its appearance;
  • has several drafting notes therein to guide a legal practitioner;
  • may be printed onto 12 A4 pages. (In the interests of the environment, it is suggested that the agreement rather be printed back to back on 6 pages.).

This SALE OF BUSINESS agreement contains the following clauses:

  1. PARTIES
  2. DEFINITIONS AND INTERPRETATION
  3. CONDITIONS
  4. SALE
  5. PURCHASE CONSIDERATION
  6. STOCK COUNT
  7. RELEASE FROM GUARANTEES, SURETYSHIPS AND SUCH LIKE
  8. POSSESSION, OWNERSHIP AND CONTROL
  9. WARRANTIES
  10. STAFF
  11. INSOLVENCY ACT PROVISIONS
  12. SUNDRY PROVISIONS
  13. DEBTORS
  14. DISPUTE RESOLUTION
  15. BREACH
  16. ADDRESSES AND NOTICES
  17. GENERAL

APPENDIX 1: FIXED ASSETS

APPENDIX 2: LEASED ASSETS

APPENDIX 3: TRADEMARKS, BRANDS AND DESIGNS

Please read carefully through the agreement and fill in all missing details; in preparing a signature document, please have regard to all the notes we have placed hereon to assist you with the conclusion of a professional, legally binding agreement.

Moneyweb Readers: R 660.00 Incl VAT
Moneyweb Insider Gold subscribers: R 577.50 incl VAT

 

You may also like…