What is a Business Purchase Agreement?
A Business Purchase Agreement, or Purchase of Business Agreement, is a legal contract used to transfer the ownership of a business from a seller to a buyer.
This includes the terms of the sale, what is or is not included in the sale price, and optional clauses and warranties to protect both seller and buyer after the transaction is completed.
A purchase business agreement can be used to buy or sell any type of business including retail stores, industrial stores, restaurants and eateries, professional service offices and many more.
A Business Purchase Agreement will identify the following basic elements:
Parties, Description of the business, Purchase Price, Closing Date, Confidentiality, Non-Competition, Representations & Warranties
A Purchase of Business Agreement is also known as:
- Purchase of Business Agreement
- Business Sale Agreement
- Business Sale Contract
- Small Business Purchase Agreement
- Sale of Business Agreement
- Agreement to Sell Business
- Agreement of Purchase and Sale of Business
- Contract for Sale of Business