Oakland Michigan 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: Oakland
• 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 Oakland Michigan 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 of selling a retail store owned by a sole proprietor in Oakland, Michigan. This agreement specifically focuses on the sale of the store, its inventory (goods), and any fixtures associated with the business. The agreement starts by providing an introduction stating the names of the parties involved in the transaction, i.e., the seller (sole proprietor) and the buyer. It mentions the date of the agreement and the effective date of the sale. Next, the agreement specifies the details regarding the retail store, such as its name, address, and any relevant permits or licenses required for its operation. It also includes a comprehensive inventory list of the goods available at the store, highlighting their quantity, description, and invoice cost. Furthermore, the agreement features a section that dictates the conditions and responsibilities relating to the fixtures of the retail store. Fixtures may include signage, shelving, display cases, lighting, or any other permanent additions to the business premises. The agreement explicitly states that all fixtures will be included in the sale and mentions their invoice cost. One crucial aspect covered in this agreement is the pricing structure. It outlines that the goods and fixtures will be sold at their invoice cost plus a certain percentage. The specific percentage can vary depending on the negotiation between the seller and the buyer. Additionally, the agreement establishes the payment terms and methods. It can outline that the buyer will make a down payment upon signing the agreement and then pay the remaining balance when taking possession of the store. The payment can be made through cash, check, or any other mutually agreed-upon method. To legally bind both parties to the obligations and conditions outlined in the agreement, there will be a section for the signatures of the seller, buyer, and witnesses. This section ensures that all parties have read and understood the terms and have agreed to abide by them. Types of Oakland Michigan Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage may include variations depending on specific elements such as the size of the store, nature of the retail business, additional terms, or any specific clauses required by either party. Overall, the Oakland Michigan Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage serves as a vital legal document that protects the interests of both the seller and the buyer during the process of selling and acquiring a retail store in Oakland, Michigan.

The Oakland Michigan 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 of selling a retail store owned by a sole proprietor in Oakland, Michigan. This agreement specifically focuses on the sale of the store, its inventory (goods), and any fixtures associated with the business. The agreement starts by providing an introduction stating the names of the parties involved in the transaction, i.e., the seller (sole proprietor) and the buyer. It mentions the date of the agreement and the effective date of the sale. Next, the agreement specifies the details regarding the retail store, such as its name, address, and any relevant permits or licenses required for its operation. It also includes a comprehensive inventory list of the goods available at the store, highlighting their quantity, description, and invoice cost. Furthermore, the agreement features a section that dictates the conditions and responsibilities relating to the fixtures of the retail store. Fixtures may include signage, shelving, display cases, lighting, or any other permanent additions to the business premises. The agreement explicitly states that all fixtures will be included in the sale and mentions their invoice cost. One crucial aspect covered in this agreement is the pricing structure. It outlines that the goods and fixtures will be sold at their invoice cost plus a certain percentage. The specific percentage can vary depending on the negotiation between the seller and the buyer. Additionally, the agreement establishes the payment terms and methods. It can outline that the buyer will make a down payment upon signing the agreement and then pay the remaining balance when taking possession of the store. The payment can be made through cash, check, or any other mutually agreed-upon method. To legally bind both parties to the obligations and conditions outlined in the agreement, there will be a section for the signatures of the seller, buyer, and witnesses. This section ensures that all parties have read and understood the terms and have agreed to abide by them. Types of Oakland Michigan Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage may include variations depending on specific elements such as the size of the store, nature of the retail business, additional terms, or any specific clauses required by either party. Overall, the Oakland Michigan Agreement for Sale of Retail Store by Sole Proprietorship with Goods and Fixtures at Invoice Cost Plus Percentage serves as a vital legal document that protects the interests of both the seller and the buyer during the process of selling and acquiring a retail store in Oakland, Michigan.