A corporation may purchase the assets of another business. This would not be a merger or consolidation. In an acquisition situation, the purchaser does not necessarily become liable for the obligations of the business whose assets are being purchased unless the acquiring corporation agrees to be liable.
Pursuant the Model Business Corporation Act, a sale of all of the assets of a corporation requires approval of the corporation's shareholders if the disposition would leave the corporation without a significant continuing business activity.
Indiana Offer to Purchase Assets of a Corporation
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US-02525BG
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How to fill out Offer To Purchase Assets Of A Corporation?
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The following are ways to protect yourself when acquiring a business. Do Your Due Diligence. Do not cut corners on this step in the process. ... Get an Indemnity Agreement. ... Buy the Company's Assets Instead of Its Shares. ... Get a Non-Compete Agreement. ... Get a Buy-Sell Protection Plan.
Read below for tips on writing business contracts for your small business. Get It in Writing. ... Use Language You Can Understand. ... Be Detailed. ... Include Payment Details. ... Consider Confidentiality. ... Include Language on How to End the Contract. ... Consider State Laws Governing the Contract.
A business purchase agreement is a written contract between two (2) parties wherein one party agrees to buy the other party's company for a specific price. By drafting the legal document, each party warrants and agrees to a set of binding conditions that are enforceable in ance with state law.
How to Write a Business Purchase Agreement? Step 1 ? Parties and Business Information. A business purchase agreement should detail the names of the buyer and seller at the start of the contract. ... Step 2 ? Business Assets. ... Step 3 ? Business Liabilities. ... Step 4 ? Purchase Price. ... Step 5 ? Terms. ... Step 6 ? Signatures.
The BasicLegal Documents Every Business Should Have Sales Contract. ... Service Contract. ... Indemnity Agreement. ... Employment Contract and Offer Letter. ... Independent Contractor Agreement. ... Employee Handbook and Policies. ... Confidentiality or Non-Disclosure Agreement (NDA). ... Purchase Orders and Vendor Agreements.