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  • Agreement For Sale Of Sole Proprietorship Law Practice With Restrictive Covenant

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Agreement for Sale of Sole Proprietorship Law Practice with Restrictive Covenant Agreement made on the (date), between (Name of Buyer) of (street address, city, state, zip code), referred to herein.

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The restrictive covenants list may include: Not altering accounting practices. ... Limit on debt. Limit of dividend payment. Limit on contracts/leases or any amendments thereof. Maintenance of certain financial ratios.

Sole proprietorships do not produce a separate business entity. This means your business assets and liabilities are not separate from your personal assets and liabilities. You can be held personally liable for the debts and obligations of the business. Sole proprietors are still able to get a trade name.

A restrictive covenant or non-competition agreement entered into incident to the sale of a business protects the goodwill acquired by the buyer and ensures that the seller (i.e., former owner) does not walk away from the completed transaction with the business's goodwill and customers, leaving the buyer with a purchase ...

Restrictive covenants can generally be found in one of three forms: non-disclosure, non-solicitation, and non-compete clauses. Sometimes their usage is a reasonable attempt to ensure the success of the business.

As the name implies, a restrictive covenant is an agreement that restricts one of the parties in a contract from taking specific actions. For example, a restrictive covenant may limit how much public companies pay their shareholders in dividends.

For example, restrictive covenants can prevent owners and tenants from making certain renovations, having pets, parking RVs in the driveway, or raising livestock.

Restrictive covenants may contain 4 different types of promises: (1) a promise not to compete with one's former employer; (2) a promise not to solicit or accept business from customers of the former employer; (3) a promise not to recruit or hire away employees of the former employer; and (4) the promise not to use or ...

The covenant may include actions you can't take with your property, like raising livestock or running a business from your home. It will also include actions you must take, like mowing your lawn regularly and/or maintaining your landscaping to HOA standards.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232