North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage

• Category: Real Estate - Contracts - Commercial
• State: Multi-State
• Control #: US-00869BG
• Format: Word; Rich Text

Description

This form is used to document an agreement of the sale of a business. Particular statutory requirements may have to be complied with in the sale of certain businesses. If the statutory requirements are not met, the sale is void as against the seller's creditors, and the buyer may be personally liable to them. A North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a legal document that outlines the terms and conditions for the sale of a retail store owned by a sole proprietor, including the goods and fixtures, at the cost price mentioned in the invoices. This agreement serves as a legally binding contract between the seller, who is the sole proprietor, and the buyer who intends to purchase the retail store. It includes various clauses and provisions that protect the interests of both parties involved. Under this agreement, the sole proprietor agrees to sell the retail store along with all the goods and fixtures used in its operation. The goods and fixtures are valued at the invoice cost, which means the price mentioned in the original invoices when they were acquired. In addition to the invoice cost, a percentage is added to the total value of the goods and fixtures. This percentage acts as the profit margin for the seller and is agreed upon by both parties during negotiations. The North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage includes the following key elements: 1. Parties Involved: This section identifies the seller, who is the sole proprietor, and the buyer who intends to purchase the retail store. 2. Purchase and Sale Terms: This section outlines the terms of the sale, including the total purchase price, which consists of the invoice cost plus the agreed percentage. It also mentions the payment terms and any other conditions related to the financial aspect of the transaction. 3. Assets Included: This section lists all the assets included in the sale, such as the retail store itself, all related goods, inventory, and fixtures. The invoice cost for each item is mentioned, along with the percentage added to arrive at the final purchase price. 4. Conditions of the Sale: This section includes any specific conditions or contingencies that must be met before the completion of the sale. It may include requirements related to inspections, transfer of licenses, or any necessary permits. 5. Representations and Warranties: This section states that the seller guarantees the ownership of the assets being sold, free from any liens or encumbrances. It may also include representations regarding the financial and operational status of the retail store. 6. Closing and Transfer: This section outlines the closing process, including the date, time, and location for the transfer of ownership. It also addresses any required documentation or paperwork necessary for the transfer to be completed. 7. Dispute Resolution: This section specifies the method for resolving any disputes or disagreements between the parties. It may include provisions for mediation, arbitration, or litigation. Different types of North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage can vary based on specific terms and conditions agreed upon by the parties involved. Some examples include agreements with different profit percentages, special provisions related to the transfer of specific licenses or permits, or unique conditions regarding the timing or financing of the sale. In conclusion, a North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a comprehensive legal document that outlines the terms and conditions for the sale of a retail store, including its assets, at the invoice cost plus an agreed-upon profit percentage. It provides clarity and protection to both the seller and the buyer throughout the transaction process.

A North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a legal document that outlines the terms and conditions for the sale of a retail store owned by a sole proprietor, including the goods and fixtures, at the cost price mentioned in the invoices. This agreement serves as a legally binding contract between the seller, who is the sole proprietor, and the buyer who intends to purchase the retail store. It includes various clauses and provisions that protect the interests of both parties involved. Under this agreement, the sole proprietor agrees to sell the retail store along with all the goods and fixtures used in its operation. The goods and fixtures are valued at the invoice cost, which means the price mentioned in the original invoices when they were acquired. In addition to the invoice cost, a percentage is added to the total value of the goods and fixtures. This percentage acts as the profit margin for the seller and is agreed upon by both parties during negotiations. The North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage includes the following key elements: 1. Parties Involved: This section identifies the seller, who is the sole proprietor, and the buyer who intends to purchase the retail store. 2. Purchase and Sale Terms: This section outlines the terms of the sale, including the total purchase price, which consists of the invoice cost plus the agreed percentage. It also mentions the payment terms and any other conditions related to the financial aspect of the transaction. 3. Assets Included: This section lists all the assets included in the sale, such as the retail store itself, all related goods, inventory, and fixtures. The invoice cost for each item is mentioned, along with the percentage added to arrive at the final purchase price. 4. Conditions of the Sale: This section includes any specific conditions or contingencies that must be met before the completion of the sale. It may include requirements related to inspections, transfer of licenses, or any necessary permits. 5. Representations and Warranties: This section states that the seller guarantees the ownership of the assets being sold, free from any liens or encumbrances. It may also include representations regarding the financial and operational status of the retail store. 6. Closing and Transfer: This section outlines the closing process, including the date, time, and location for the transfer of ownership. It also addresses any required documentation or paperwork necessary for the transfer to be completed. 7. Dispute Resolution: This section specifies the method for resolving any disputes or disagreements between the parties. It may include provisions for mediation, arbitration, or litigation. Different types of North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage can vary based on specific terms and conditions agreed upon by the parties involved. Some examples include agreements with different profit percentages, special provisions related to the transfer of specific licenses or permits, or unique conditions regarding the timing or financing of the sale. In conclusion, a North Carolina Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a comprehensive legal document that outlines the terms and conditions for the sale of a retail store, including its assets, at the invoice cost plus an agreed-upon profit percentage. It provides clarity and protection to both the seller and the buyer throughout the transaction process.