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Business Contract Template 2


Business Contract Template 2
Business Contract Template 2
FORM 3
Estate Agents Act 1980
Regulation 5(b)
CONTRACT OF SALE OF BUSINESS
Standard form of contract prescribed by the Estate Agents (Contracts) Regulations 2008
WARNING
THIS IS A BINDING CONTRACT
YOU SHOULD OBTAIN THE ADVICE OF A SOLICITOR BEFORE YOU SIGN
By signing this contract, the Purchaser acknowledges that before signing this contract the Purchaser received, where appropriate:
y a statement from an auctioneer or estate agent about finance under section 51 of the Estate Agents Act 1980; and
y a statement by a Vendor of a small business under section 52 of the Estate Agents Act 1980.
Business name and
description
see dictionary
Vendor
see dictionary
Vendor's address
(street and postal address,
facsimile and email)
see clause 27
Purchaser
see dictionary
Purchaser's address
(street and postal address,
facsimile and email)
see clause 27
Covenantors
(for example, a director(s)
of the Vendor or
shareholder(s) of the
Vendor)
see dictionary and clause 20
Covenantors' address
(street and postal address,
facsimile and email)
see clause 27
Purchase Price
see dictionary and clause 4
Deposit
see dictionary and clauses
4.1.1, 4.2 and 4.3
Balance of Purchase Price
(payable on Completion)
see clause 4.1.2
Purchase Price
apportionment
(Assets, Goodwill etc.)
see clause 4.5 and clause 12
Stakeholder
(for example, the Vendor's
lawyer or estate agent)
see dictionary and clauses
4.1, 4.2 and 4.3
Stock Valuer
see dictionary and clause
11.4
Business Contract Template 2
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