l. PARTIES. This contract is made
[date] between [name] of [name], herein called "Sellers," and [name],
herein called "Buyer."
2. AGREEMENT
TO SELL. The Sellers shall sell to the Buyer, and the Buyer shall buy from the
Sellers, all of that certain stock of goods, wares and merchandise belonging to
the Sellers, and now located in the storeroom at [location], together with all
furniture and fixtures therein, belonging to the Sellers.
3. STORE
CLOSED FOR INVENTORY. Upon the execution and delivery of this contract,
properly signed and executed, and the payment of the earnest money hereinafter
mentioned, the store shall be closed temporarily, and an inventory taken
immediately, and delivered to the Buyer, at the invoice cost $_______, without
including transportation charges or expenses, deducting, however, any
depreciation on account of damages, wear and tear.
4. INVOICE
VALUATION OR ARBITRATION. The goods, wares and merchandise and furniture and
fixtures shall be inventoried at [location].
5. TIME
TO COMPLETE INVENTORY. Ten days shall be allowed to complete the inventories,
upon which date all of the property shall be thereupon delivered by the Sellers
to the Buyer.
6. DEPOSIT
IN ESCROW TO SECURE COMPLIANCE WITH BULK SALES
LAW. The Buyer, in consideration
of the premises, shall, upon the execution of this contract, deposit in escrow
in the [name] Bank, the sum of $________ as earnest money to bind the trade,
the sum to be returned to the Buyer in case the Sellers fail to make good title
to the property, and upon the consummation of the deal and the tender of the
Sellers to the Buyer of their certain bill of sale to the property, showing
that the Sellers have complied with all the requirements and conditions of the
Bulk Sales Law of [jurisdiction] and that they will furnish to Buyer a full and
complete list of all creditors of the store, together with the amounts due the
creditors, that the creditors shall be immediately paid in full such amounts as
may be due them, and that the total amount shown to be due by the Sellers shall
be deposited in escrow in [name] Bank, until all creditors of the store shall
give a release of their claim against the store, or the individual members
thereof, the Buyer shall pay to the Sellers the total amount of the invoice in
cash and the payment shall be accepted in full payment for the property.
7. LIQUIDATED
DAMAGES. All the stipulations, agreements and conditions contained in this
contract are to apply to and to bind the heirs, executors and administrators of
the respective parties hereto, and, in case of failure, the parties bind
themselves each to the other in the sum of $_____ Dollars, as fixed and settled
damages to be paid by the failing party.
_______________________
_____________________
Buyer......................Seller
________________
[CD1]Bulk Sales Contract
0 Comments
Thank you for your response. It will help us to improve in the future.