This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Asset Purchase And Sale Agreement Form In Houston
Category:
State:
Multi-State
City:
Houston
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
Description
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FAQ
If you're asking whether you need a lawyer to draft a contract, legally, the answer is no. Anyone can draft a contract on their own and as long as the elements above are included and both parties are legally competent and consent to the agreement, it is generally lawful.
The biggest difference is that an SPA is the sale of all shares, and an APA is the sale of selected assets. Therefore, they are both different transactions and have different procedures.
A comprehensive guide on how to draft a contract Know your parties. Agree on the terms. Set clear boundaries. Spell out the consequences. Specify how you will resolve disputes. Cover confidentiality. Check the legality of the contract. Open it up to negotiation.
To make a legally binding contract, 5 elements must be satisfied: offer, acceptance, consideration, intention and capacity: Offer: One party makes an offer. Acceptance: The other party accepts the offer. Consideration: Each party provides consideration to the other.
Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).
What should be included in a buy-sell agreement? Any stakeholders, including partners or owners, and their current stake in the business' equity. Events that would trigger a buyout, such as death, disability, divorce, retirement, or bankruptcy. A recent business valuation.
More info
An asset purchase agreement (APA) is a written legal document that formalizes purchasing a business or substantial commercial asset. Bill of Sale and Assignment.Assets included with the purchase agreement: The business's assets should be listed in the purchase agreement, specifying what is included with the sale. THIS ASSET PURCHASE AGREEMENT (this "Agreement") is made and entered into as of. The letter of intent and the Asset Purchase Agreement should identify the assets and the purchase price. An asset purchase agreement is the legal document that will govern the transfer of ownership of a business's assets from the seller to the buyer. An Asset Purchase Agreement is a legally binding contract between a buyer and a seller that details the terms and conditions of the sale of a business's assets.