Sales Agreement Checklist
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Names of Seller, Buyer & Business
Background information
Assets being sold
Purchase price and Allocation of Assets
Covenant Not to Compete
Any adjustments to be made
The Terms of the Agreement and payment terms
List of inventory included in the sale
Compliance with the Bulk Sales laws of the state
Any representation and warranties of the seller
Any representation and warranties of the buyer
Determination as to the access to any business information
Determination as to the running of the business prior to closing
Contingencies
Possibilities of having the seller continue as a consultant
Fees – including brokers fees
Date of closing
Sales Agreement Checklist
The sales agreement is the key document in buying the business assets or the stock of a corporation. It is important to make sure the agreement is accurate and contains all of the terms of the purchase. It would be a good idea to have an attorney review this document. It is in this agreement that you should define everything that you intent to purchase of the business, assets, customer lists, intellectual property and goodwill.
The following is a checklist of items that should be addressed in the agreement:
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