Asset Purchase Agreement Short Form Practical Law In Minnesota

• Category: Small Business - Business Sale
• State: Multi-State
• Control #: US-00418
• Format: Word; Rich Text

Description

The Asset Purchase Agreement short form practical law in Minnesota is a concise legal instrument used to facilitate the sale of business assets from a seller to a buyer. This agreement outlines the specific assets being sold, which may include equipment, inventory, and goodwill, while also detailing any liabilities the buyer may assume. Key features of this agreement include sections addressing the purchase price, payment terms, representations and warranties of both parties, and conditions for closing. Users should ensure to modify the document to reflect their specific transaction details and delete any non-applicable provisions. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in the sale of business assets, as it provides a clear framework to negotiate terms, minimize liabilities, and protect client interests. Proper filling and editing instructions suggest reviewing all sections for accuracy and compliance with Minnesota law, ensuring a successful and legally binding transaction.