This form involves the sale of a small business where the real estate on which the Business is located is leased from a third party. This form assumes that the Seller has received the right to assign the lease from the lessor/owner.
The Delaware Agreement for Sale of Business by Sole Proprietorship with Leased Premises is a legal document used in Delaware when a sole proprietor wishes to sell their business that operates from leased premises. This agreement outlines the terms and conditions under which the sale will take place. Keywords: Delaware, Agreement for Sale of Business, Sole Proprietorship, Leased Premises. This agreement typically includes the following sections: 1. Parties: This section identifies the parties involved in the agreement, namely the seller (sole proprietor) and the buyer. 2. Recitals: This part provides a brief background of the agreement, including the lease term of the premises, the nature of the business being sold, and the intent of the parties to enter into this sale agreement. 3. Purchase Price: Here, the document specifies the agreed-upon purchase price for the business. This amount may include the value of inventory, equipment, customer lists, and other assets associated with the business being sold. 4. Assets and Liabilities: This section outlines the assets and liabilities included in the sale, such as inventory, equipment, leases, contracts, licenses, outstanding debts, and any legal or financial obligations relating to the business. 5. Closing Conditions: This portion states the conditions that must be met before the sale can be finalized. It may include obtaining necessary permits, licenses, consents, or approvals required for the transfer of the business. 6. Representations and Warranties: Both parties make various representations and warranties regarding their authority to enter into this agreement, ownership of the business, and the accuracy of the information provided. 7. Indemnification: This section specifies the indemnification obligations of the parties for any losses, claims, damages, or liabilities arising from any breach of the agreement or misrepresentation. 8. Further Assurances: The parties agree to cooperate and provide any additional documents or information required to complete the transfer of the business smoothly. 9. Governing Law and Venue: The agreement specifies that it shall be governed by the laws of Delaware and any disputes will be resolved in the courts of Delaware. Types of Delaware Agreement for Sale of Business by Sole Proprietorship with Leased Premises: — Real Estate Businesses: Sales agreements for sole proprietorship operating real estate businesses, such as leasing residential or commercial properties in Delaware. — Retail Businesses: Agreements for the sale of sole proprietorship that run retail businesses, such as grocery stores, clothing boutiques, or electronics shops, located in Delaware. — Service-Based Businesses: These agreements pertain to the sale of sole proprietorship offering services like accounting, legal, consulting, or any other service-based business with leased premises in Delaware.The Delaware Agreement for Sale of Business by Sole Proprietorship with Leased Premises is a legal document used in Delaware when a sole proprietor wishes to sell their business that operates from leased premises. This agreement outlines the terms and conditions under which the sale will take place. Keywords: Delaware, Agreement for Sale of Business, Sole Proprietorship, Leased Premises. This agreement typically includes the following sections: 1. Parties: This section identifies the parties involved in the agreement, namely the seller (sole proprietor) and the buyer. 2. Recitals: This part provides a brief background of the agreement, including the lease term of the premises, the nature of the business being sold, and the intent of the parties to enter into this sale agreement. 3. Purchase Price: Here, the document specifies the agreed-upon purchase price for the business. This amount may include the value of inventory, equipment, customer lists, and other assets associated with the business being sold. 4. Assets and Liabilities: This section outlines the assets and liabilities included in the sale, such as inventory, equipment, leases, contracts, licenses, outstanding debts, and any legal or financial obligations relating to the business. 5. Closing Conditions: This portion states the conditions that must be met before the sale can be finalized. It may include obtaining necessary permits, licenses, consents, or approvals required for the transfer of the business. 6. Representations and Warranties: Both parties make various representations and warranties regarding their authority to enter into this agreement, ownership of the business, and the accuracy of the information provided. 7. Indemnification: This section specifies the indemnification obligations of the parties for any losses, claims, damages, or liabilities arising from any breach of the agreement or misrepresentation. 8. Further Assurances: The parties agree to cooperate and provide any additional documents or information required to complete the transfer of the business smoothly. 9. Governing Law and Venue: The agreement specifies that it shall be governed by the laws of Delaware and any disputes will be resolved in the courts of Delaware. Types of Delaware Agreement for Sale of Business by Sole Proprietorship with Leased Premises: — Real Estate Businesses: Sales agreements for sole proprietorship operating real estate businesses, such as leasing residential or commercial properties in Delaware. — Retail Businesses: Agreements for the sale of sole proprietorship that run retail businesses, such as grocery stores, clothing boutiques, or electronics shops, located in Delaware. — Service-Based Businesses: These agreements pertain to the sale of sole proprietorship offering services like accounting, legal, consulting, or any other service-based business with leased premises in Delaware.
