Virginia 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. The Virginia Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a legally binding contract used when a sole proprietor wants to sell their retail store, including its goods and fixtures, to another party. This agreement outlines the terms and conditions of the sale, including the cost of goods based on the original invoice and an additional percentage. Keywords: Virginia, agreement for sale, retail store, sole proprietorship, goods, fixtures, invoice cost, percentage. Types of Virginia Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage: 1. Basic Agreement: This type of agreement covers the essential terms of the sale, including the identification of the parties involved, the date of the transaction, a detailed description of the retail store, goods, and fixtures being sold, the invoice cost of the goods, and the agreed-upon percentage to be added. 2. Inventory and Fixture List: This variation of the agreement includes a comprehensive list of all the goods and fixtures included in the sale. The list can cover items such as inventory, display shelves, furniture, signage, and any other essential elements of the retail store. 3. Seller Financing Agreement: In some cases, the seller may provide financing options to the buyer. This type of agreement outlines the terms and conditions related to financing, including the down payment, interest rates, installment schedule, and any collateral required. 4. Lease Assignment Agreement: If the retail store is leased rather than owned by the sole proprietor, a lease assignment agreement may be necessary. This agreement allows the buyer to assume the lease agreement with the landlord, ensuring the continuity of the business in the same location. 5. Non-Compete Agreement: To protect the seller's interests, a non-compete agreement may be included. This agreement prohibits the seller from engaging in similar retail business activities within a specified geographic area and timeframe. 6. Bill of Sale: A bill of sale is typically attached to the agreement to provide a comprehensive list of the goods and fixtures being sold. It includes specific details such as the item descriptions, quantities, prices, and conditions. It is important to consult with legal professionals to ensure that the agreement aligns with Virginia's laws and covers all necessary aspects of the sale process.

The Virginia Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a legally binding contract used when a sole proprietor wants to sell their retail store, including its goods and fixtures, to another party. This agreement outlines the terms and conditions of the sale, including the cost of goods based on the original invoice and an additional percentage. Keywords: Virginia, agreement for sale, retail store, sole proprietorship, goods, fixtures, invoice cost, percentage. Types of Virginia Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage: 1. Basic Agreement: This type of agreement covers the essential terms of the sale, including the identification of the parties involved, the date of the transaction, a detailed description of the retail store, goods, and fixtures being sold, the invoice cost of the goods, and the agreed-upon percentage to be added. 2. Inventory and Fixture List: This variation of the agreement includes a comprehensive list of all the goods and fixtures included in the sale. The list can cover items such as inventory, display shelves, furniture, signage, and any other essential elements of the retail store. 3. Seller Financing Agreement: In some cases, the seller may provide financing options to the buyer. This type of agreement outlines the terms and conditions related to financing, including the down payment, interest rates, installment schedule, and any collateral required. 4. Lease Assignment Agreement: If the retail store is leased rather than owned by the sole proprietor, a lease assignment agreement may be necessary. This agreement allows the buyer to assume the lease agreement with the landlord, ensuring the continuity of the business in the same location. 5. Non-Compete Agreement: To protect the seller's interests, a non-compete agreement may be included. This agreement prohibits the seller from engaging in similar retail business activities within a specified geographic area and timeframe. 6. Bill of Sale: A bill of sale is typically attached to the agreement to provide a comprehensive list of the goods and fixtures being sold. It includes specific details such as the item descriptions, quantities, prices, and conditions. It is important to consult with legal professionals to ensure that the agreement aligns with Virginia's laws and covers all necessary aspects of the sale process.