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Wyoming Agreement to Sell Business

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Wyoming Agreement to Sell Business Powered By Docstoc
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                             This is an agreement to sell a business subject to certain conditions. In an agreement to
                             sell, unlike a contract of sale, the transfer of property is to take place at a future time once
                             certain conditions have been satisfied. This document contains numerous standard clauses
                             commonly found in these types of agreements, but can be customized to fit the needs of
                             the buyer and seller. This agreement is useful to owners of small businesses located in
                             Wyoming seeking to sell their company or to prospective buyers of a business.
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                                AGREEMENT TO SELL BUSINESS



THIS AGREEMENT TO SELL BUSINESS (“Agreement”) made this _____ [Month] _____
[Date], 20_____, by and between ________________________ [Instruction: Insert the name
of business owner], residing at ________________________ [Instruction: Insert the address
of business owner] (hereinafter referred to as the "Seller") and ________________________
[Instruction: Insert the name of Buyer] (hereinafter referred to as the "Buyer").

    WHEREAS, the Seller desires to sell and the Buyer desires to buy the business having
registered name as ________________________ [Instruction: Insert the registered name of
business] having registered office at ________________________, duly registered under
Wyoming statutes, and also known as ______________________ (hereinafter the “Business”)
and the Business owns all assets thereof as contained in Exhibit A attached hereto, furthermore,
the parties hereto agree and covenant as follows:

1. The total purchase price for all fixtures, furnishings and equipment listed under Exhibit A is
   _______________ ($______) [Instruction: Insert the Purchase amount, e.g., two hundred
   fifty thousand dollars ($250,000)] payable as follows:

   a. $____________ paid in cash, certified or bank checks, as a deposit upon execution of this
      Agreement, to be held by ________________________. [Instruction: Insert the name
      of the Bank where to held the deposit]

   b. $___________ additional to be paid in cash, certified or bank checks, at the time of
      closing.

   c. $_________ to be paid by a note of the Buyer to the Seller, bearing interest at the rate of
      _____ percent per annum with an option of the Buyer to prepay the entire outstanding
      obligation without penalty. Said note shall be secured by a chattel mortgage and
      financing statement covering the property to be sold hereunder, together with any and all
      other property acquired during the term of said note and placed in or within the premises
      known as ______________________________________________.

2. The property to be sold hereunder shall be conveyed by a standard form Bill of Sale, duly
   executed by the Seller.

3. The Seller promises and agrees to convey good, clear, and marketable title to all the property
   to be sold hereunder, the same to be free and clear of all liens and encumbrances. Full
   possession of said property will be delivered in the same condition that it is now, reasonable
   wear and tear expected.

4. Consummation of the sale, with payment by the Buyer of the balance of the down payment
   and the delivery by the Seller of a Bill of Sale, will take place on or before _____ [Month]
   _____ [Date], 20_____.




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5. The Seller shall use the purchase money,
				
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Description: This is an agreement to sell a business subject to certain conditions. In an agreement to sell, unlike a contract of sale, the transfer of property is to take place at a future time once certain conditions have been satisfied. This document contains numerous standard clauses commonly found in these types of agreements, but can be customized to fit the needs of the buyer and seller. This agreement is useful to owners of small businesses located in Wyoming seeking to sell their company or to prospective buyers of a business.
This document is also part of a package Essential Wyoming Legal Documents 144 Documents Included