Business transfer agreement: incorporation of a sole trader or partnership to a company

About this document

This is a comprehensive business agreement for the sale of a business by either a company or a limited liability partnership or one or more individuals. If you are looking for company sale agreements, we have them listed on another page within the ‘company’ category.

This business sale agreement is suitable for any individual or company selling or buying a business or enterprise of any type to his own company.

Contents

• Terms of the agreement for sale and list of subject matter of sale
• Allocation of purchase price, when and how it is to be paid
• What happens to complete the transaction
• Dealing with counting and hand over of stocks
• Responsibility for creditors and debtors
• Seller's warranties
• Seller's future activities
• Mediation of a dispute before court action
• Other usual provisions to protect your interest
• Suitable for any type of business. Any shareholder or prospective shareholder may propose a shareholders agreement and offer one of these template legal documents as a draft
• Extensive use of warranties for good measure although it is unlikely they will be required seeing as you are the buyer and seller
• Designed for the deal to be completed on the same day, not at some future time
• Purchase price apportioned among the assets to simplify tax planning
• Comprehensive list of matters to be done before completion and documents to be handed to the buyer
• Provisions to prevent seller setting up in competition
• Suitable provisions for contract to cover transfer of leasehold and freehold property
• Explanatory guidance notes in plain English are included