One of the main reasons for the disintegration or delay of a sale is the separation of the lease from the owner. In theory, the lessor cannot « inappropriately » refuse authorization to assign the lease to a new tenant. In fact, the landlord is nervous about establishing a new relationship with a new tenant they know nothing about. In theory, they cannot change the general conditions of sale, the amount of the rental or the duration. If the incoming buyer is unable to obtain a spirits license, they will have a hard time managing the transaction. Clause 49 covers several issues, including the seller maintaining the existing liquor license, brewery loans, brewery pre-emption right, functional deposits, prepaid vouchers, the buyer will often create a unit on which he can act after purchasing the business. Thus, their names are used with the decisive phrase « and/or nominee », so that buyers can then designate their newly created company as buyer (by the in-between lawyers or their accountant). If they forget or do not name another party, they conclude the purchase under their own name. The date will remain empty until all parties have signed the agreement. In New Zealand, we can either get lawyers to write a tailor-made agreement or use a standard contract for small businesses called a contract to sell and buy a business. It is created by the Auckland District Law Society (ADLS) and REINZ and is based on the experience of business lawyers selling businesses.
It is updated from time to time, the fourth edition 2008 (3) being the most current at the time of the letter. It may not matter for a coffee, the parties may agree « close enough is good enough », but it can be essential for large companies where stock accounts for a large part of the purchase price. You can purchase a company`s contract of sale from the Auckland District Law Society or REINZ. A business broker provides these forms and fills them out as part of the business brokerage service. Or ask your lawyer. In the above agreements, where the parties sign, it was again recognized that the buyer had received a declaration of pre-contractual disclosure in the situation of sale of real estate on a sole basis. The seller is the name of the company, unless it is another entity, for example. B an individual entrepreneur. Not the trade name which is a few lines away. Directors` signatures (for an « asset sale ») Once you have signed the agreement and before the buyer takes possession, you are in a transition period where you have obligations to the new owner. Some agreements stipulate that the deposit must be paid if the agreement becomes unconditional. I recommend taking the deposit on the day of this agreement.
Sometimes the buyer is only willing to pay when all his conditions are met. However, this means that the buyer has no obligation or responsibility for the agreement and often has the effect of derailing a purchase since he has never been a serious buyer. Provider Support Period: A period that helps the new owner understand and manage the business. Simpler businesses might need a few weeks of support, more complex businesses might take a few months or more. 3. Distribution of the purchase price. The purchase price should be allocated to the different assets of the company as follows: often confusing with both parties. This should not be for negotiations, it should only be a simple fact. A statement of actions shall be made and agreed upon the date of execution.
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