Collin Texas 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
• County: Collin
• 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. Collin Texas Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a legally binding document that outlines the terms and conditions between a sole proprietor and a buyer for the sale of a retail store. The agreement includes the sale of all goods and fixtures within the store at their invoice cost, along with an additional percentage predetermined by both parties. There are different types of Collin Texas Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage, including: 1. Standard Agreement: This is the most common type of agreement where the sole proprietor agrees to sell their retail store, including all goods and fixtures, to the specified buyer at the invoice cost plus a predetermined percentage on top. The agreement will detail the payment terms, the transfer of ownership, and any conditions or warranties provided. 2. Asset Purchase Agreement: In this type of agreement, the buyer purchases specific assets of the retail store, such as inventory, fixtures, equipment, and intellectual property, rather than buying the entire business. The invoice cost plus percentage still applies to the assets being purchased. 3. Stock Purchase Agreement: This agreement involves the sale of all outstanding shares of the sole proprietor's business, including the retail store. The invoice cost plus percentage applies to the value of the shares being sold. 4. Conditional Sale Agreement: This type of agreement includes a condition that must be met before the sale can be completed. For example, the buyer may need to secure financing or obtain necessary licenses and permits before the sale can proceed. The invoice cost plus percentage still applies to the final purchase price. 5. Installment Sale Agreement: In an installment sale agreement, the buyer agrees to make payments over a specified period instead of paying the full purchase price upfront. The invoice cost plus percentage is still applied, and the terms of the installment payments are detailed in the agreement. It is essential to consult with a legal professional familiar with Collin Texas laws to ensure that the agreement accurately reflects the intentions and protects the interests of both the sole proprietor and the buyer during the sale of a retail store.

Collin Texas Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage is a legally binding document that outlines the terms and conditions between a sole proprietor and a buyer for the sale of a retail store. The agreement includes the sale of all goods and fixtures within the store at their invoice cost, along with an additional percentage predetermined by both parties. There are different types of Collin Texas Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage, including: 1. Standard Agreement: This is the most common type of agreement where the sole proprietor agrees to sell their retail store, including all goods and fixtures, to the specified buyer at the invoice cost plus a predetermined percentage on top. The agreement will detail the payment terms, the transfer of ownership, and any conditions or warranties provided. 2. Asset Purchase Agreement: In this type of agreement, the buyer purchases specific assets of the retail store, such as inventory, fixtures, equipment, and intellectual property, rather than buying the entire business. The invoice cost plus percentage still applies to the assets being purchased. 3. Stock Purchase Agreement: This agreement involves the sale of all outstanding shares of the sole proprietor's business, including the retail store. The invoice cost plus percentage applies to the value of the shares being sold. 4. Conditional Sale Agreement: This type of agreement includes a condition that must be met before the sale can be completed. For example, the buyer may need to secure financing or obtain necessary licenses and permits before the sale can proceed. The invoice cost plus percentage still applies to the final purchase price. 5. Installment Sale Agreement: In an installment sale agreement, the buyer agrees to make payments over a specified period instead of paying the full purchase price upfront. The invoice cost plus percentage is still applied, and the terms of the installment payments are detailed in the agreement. It is essential to consult with a legal professional familiar with Collin Texas laws to ensure that the agreement accurately reflects the intentions and protects the interests of both the sole proprietor and the buyer during the sale of a retail store.